Strategic objectives
Gazprom Neft was forced to operate in a challenging environment throughout 2020 — the constrictions arising from the COVID-19 pandemic resulting in a decline in prices and demand for oil and oil products, on both the domestic and international markets. These factors notwithstanding, the company succeeded in ensuring the full continuity of all production processes, as well as maintaining its financial stability and continuing its implementation of strategic projects.
Where we work
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
Gazprom Neft’s total hydrocarbon reserves (proved+probable — 2P, SPE-PRMS, including production through joint ventures) stood at 3.9 billion tonnes of oil equivalent as at 31 December 2020. The company’s reserves life is 22 years. 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, the Omsk, Orenburg and Tomsk Oblasts, and the Sakha Republic. In addition to this, the company is also involved in production projects beyond Russia, in Serbia, Iraq, Venezuela, and elsewhere.
Processing 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, while reducing refineries’ environmental impacts. Gazprom Neft products are exported to more than 50 countries worldwide 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 2,000 outlets throughout Russia, the CIS and Europe.
Financial performance
Gazprom Neft achieved net profits of ₽117.7 billion in 2020. High market volatility and a sharp decline in the wider business environment notwithstanding, the company delivered consistent net-profit growth throughout Q2—Q4. Adjusted EBITDA was ₽485.2 billion.
Gazprom Neft in figures
(as at 31 December 2020)
Financial highlights
Operational highlights
