Our business overview
Gazprom Neft is a vertically integrated oil company engaged primarily in oil and gas exploration, production, and refining, as well as the production and sale of petroleum products. The Company’s strategy focuses on growing the scale of the business by expanding the resource base, enhancing oil production, and upgrading refining facilities.
In 2016, output of hydrocarbons at Gazprom Neft was 86.2 million tonnes of oil equivalent (toe), up 8.2% on the previous year. The Company’s 2016 results made it an oil industry leader in terms of output growth. At the start of 2016 Gazprom Neft ventures (net of JV’s) held have licenses for more than 80 licensing areas, and was also involved in joint projects working at oil fields abroad in Iraq, Venezuela, Serbia, Angola, Bosnia & Herzegovina, Romania and Hungary.
In 2016 Gazprom Neft refined 41.9 million tonnes of oil. The company’s largest plant, the Omsk refinery, is Russia’s leader in depth of refining, as well as being one of the country’s most modern refineries and one of the largest in the world. The Company’s other assets include the Moscow refinery, the Yaroslavl refinery (YANOS belongs to Slavneft , Gazprom Neft has a 50% share of refining volume) and a refining complex belonging to the Serbian company NIS comprising two refineries located at Pančevo and Novi Sad. Thanks to the modernisation programmes carried out by the Company’s oil refineries in Russia and the optimisation of its product mix, the entire range of high-octane petrol and diesel fuel manufactured by Gazprom Neft complied with Euro-5 emission standards in 2016.
Petrochemicals are sold through the company’s own network of filling stations and grocery business units on selling aircraft, bunker fuels, lubricants and bitumen.
The retail network comprises 1,859 filling stations located in Russia, the CIS and Europe.
Gazprom Neft is one of the industry’s leaders in business performance.
The results of 2016 enabled the Company to not only maintain its leadership in these indicators, but to also establish new growth points.