Gazprom Neft’s anti-COVID-19 programme

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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 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.

RUB117,7 billion net profit 2020
96,1 million tonnes of oil equivalent 2020 hydrocarbon production volumes
40,4 million tonnes 2020 refining volumes

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.

Regions of operation

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.

No.3 in Russia by hydrocarbon production (96.1 mtoe)

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.

More than 2,000 outlets throughout the Gazprom Neft filling station network

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

RUB2 TRILLION 2020 turnover
RUB485,2 BILLION adjusted EBITDA
RUB117,7 BILLION 2020 net profit

Operational highlights

3,9 BILLION TONNES OF OIL EQUIVALENT (proved+probable — 2P hydrocarbon reserves)
1190% reserves replacement ratio including new assets
96,1 MILLION TONNES OF OIL EQUIVALENT hydrocarbon production (including production through subsidiaries and affiliates)
40,4 MILLION TONNES oil refined
23 MILLION TONNES petroleum products sold through premium channels
More than 2,000 outlets Gazprom Neft’s total filling-station network throughout Russia