Gazprom Neft at a glance

Gazprom Neft is a vertically integrated oil company, primarily engaged in the exploration and development of oil and gas fields, oil refining, and the production and sale of petroleum products. Gazprom Neft is one of the Russian oil industry’s leading companies in terms of efficiency. Gazprom Neft’s largest shareholder is Gazprom PJSC, which holds a 95.68% interest. The remaining shares are in free circulation.

Strategic goals

Negative price and market trends notwithstanding, Gazprom Neft nonetheless maintained a consistent financial performance with its 2019 results. The company’s 2019 net profit breached the RUB400 billion level for the first time. The company is placing its bets on technological development, putting in place cutting-edge solutions to achieve its strategic objectives.

RUB400,2 billion the company’s net profit in 2019

96,1 million tonnes of oil equivalent hydrocarbon production volumes in 2019

41,5 million tonnes refining volumes in 2019

Regions in which the company operates

Gazprom Neft’s corporate structure encompasses more than 70 exploration and production, refining, and retailing enterprises throughout Russia, the CIS and worldwide.

Exploration and production

As at 31 December 2019 Gazprom Neft’s total proved and probable hydrocarbons reserves, including proportional shares in production at joint enterprises (proved + probable — 2P (SPE-PRMS international standards)), totalled 2.86 billion tonnes of oil equivalent. Gazprom Neft is one of Russia’s top three companies in terms of hydrocarbon production.

Gazprom Neft operates throughout Russia’s major oil and gas regions, including the Khanty-Mansi and Yamalo-Nenets Autonomous Okrugs, and the Omsk, Orenburg and Tomsk Oblasts. In addition to this, the company is also implementing production projects outside of Russia, in Serbia, Iraq, Venezuela, and elsewhere.

No.3 in Russia by hydrocarbon production volumes (96.1 million tonnes of oil equivalent)

Refining and sales

The company’s production-to-refining ratio is among the best in Russia’s oil and gas industry. The company’s key refining facilities are located in Omsk, Moscow, Yaroslavl and Pančevo (Serbia).

The company is implementing a major technological-modernisation programme throughout its refining facilities, directed at increasing efficiency and safety in oil refining. Gazprom Neft products are exported to more than 50 countries and sold throughout Russia and abroad through an extensive network of directly-owned retail outlets. The company’s filling station network currently totals more than 1,800 outlets throughout Russia, the CIS and Europe.

More than 1,800 the total number of outlets in the Gazprom Neft filling station network

Financial performance

Net profit at Gazprom Neft reached RUB400.2 billion in 2019, a 6.2% increase year-on-year. Adjusted EBITDA remained the same as in 2018, at RUB795.1 billion.