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1. Key performance indicators
Path: Company / Key performance indicators

Key financial Indicators 2011 2010 2009 2008 2007 Change 2011/2010, % Sales revenue, mn USD 44,172 32,912 24,305 33,870 22,768 34% Adjusted EBITDA, mn USD 10,158 7,271 6,037 8,610 6,601 40% Operating... ... 2009 2008 2007 Change, 2011/2010, % Proven reserves (including share in affiliates) oil, mn bbl 6,789 6,441 6,924 6,303 6,709 5% gas, bn ft 3 9,182 6,511 3,231 3,033 1,232 40% Hydrocarbon reserves, mn BOE 8,319 7,526 7,462 6,808 6,914 11% Crude oil production...


2. Membership of the Management Board
Path: Corporate Governance / MEMBERSHIP OF THE MANAGEMENT BOARD

... 2011, First Deputy CEO for Exploration and Production, Strategic Planning, M&A. Cherner Anatoliy Moiseevich Deputy Chairman of the Management Board, Deputy CEO for logistics, Refi ning and Sales B. 1954, graduate of Grozny Petroleum Institute. Since... ... Since March 2012, Management Board Member of Gazprom Neft, Deputy CEO for Economics and Finance. Zilbermints Boris Semenovich Deputy Chairman of the Management Board B. 1967, graduate of the Geological Department of Gubkin Moscow Academy of Oil and...


3. ADDRESS TO SHAREHOLDERS, INVESTORS & PARTNERS
Path: Company /  ADDRESS TO SHAREHOLDERS, INVESTORS & PARTNERS

... a record-breaking performance on all fronts in 2011, leading the Russian industry by rates of growth of production, refining, and sales through premium channels. Gazprom Neft has once again proved itself to be one of the most efficient operators in the... ... the growth trend of recent years. Main drivers were increased production at the Priobskoye Field, consolidation of assets in Orenburg Region that were purchased by the Company in 2011, and the start of operations with Cenomanian natural gas deposits at the...


4. Calendar of Events 2011
Path: Company / CALENDAR OF EVENTS 2011

January Gazprom Neft and TNK-BP agree to set up a joint venture for development of Messoyakha oil and gas deposits in the northern part of the Yamal Peninsula. ">Design of the packaging can used for G-Energy motor-oil... ... sale of petroleum products in Southern Europe and the Balkans. ">The Company approves a development strategy up to 2020 for NIS. April ">Gazprom Neft begins sales of its own fuel brand, G-Drive. Gazprom Neft-Aero launches aircraft refueling...


5. Development Strategy
Path: Company / DEVELOPMENT STRATEGY

... a major step towards achievement of the goals set out in in its Development Strategy. Operating performance improved year-onyear in nearly all segments. Production grew by 8%, refining by 7% and premium sales by 38%. The performance was helped by a stable... ... in 2011 under PRMS classification grew by 164 mn TOE. The Company’s geological survey program for the year was carried out and Ñ 1 +Ñ 2 oil reserves grew by 259.1 mn t thanks to geological surveying and acquisitions. The Ignialinskoye oil and gas...


6. Oil refining
Path: EVENTS 2011 / OIL REFINING

... designed to improve environmental characteristics of fuels, achieve much deeper refining, and to expand the volume and range of products (high-octane gasoline, diesel fuels, aromatic hydrocarbons, coke, modern bituminous materials and petrochemical products)... ... continued to successfully address two interrelated objectives: increasing refining efficiency and improving the quality of petroleum products. Anatoly Cherner Deputy CEO Logistics, refining and sales Oil refining and petroleum product output by Gazprom...


7. Sales of Petroleum Products
Path: EVENTS 2011 / SALES OF PETROLEUM PRODUCTS

On November 18, 2009, the Company’s Board of Directors approved a marketing strategy for petroleum product sales in Russian and CIS markets up to 2020. The strategy sets ambitious marketing goals which can be summarised under three... ... of external refining of oil at Moscow Refinery. Upgrade programs at the Company’s refineries and product range optimization increased output of automotive gasoline by 11.7%, high-quality jet fuel by 5.6%, and Euro 4 and Euro 5 diesel fuel by 2.6 times in 2011...


8. Petrochemical Industry
Path: EVENTS 2011 / PETROCHEMICAL INDUSTRY

... is a major Russian producer of aromatic hydrocarbons (benzene, paraxylene, orthoxylene and toluene) and olefin liquefied hydrocarbon gases (propane-propylene fraction). Sales of aromatics in 2011 were 393,000 t, of which 263,000 t were sold in Russia. The Company’s share of total Russian consumption...


9. Innovation
Path: EVENTS 2011 / INNOVATION

... strategy up to 2020 includes a range of programs to make exploration more efficient, using the latest advances in geology and geophysics, and exploiting oil and gas deposits with minimal environmental impact. As reserves production will increase over time,... ... products and services, resolve current production problems, and to develop a favorable, innovative corporate image. In 2011, Company management approved the Strategy for Development of Innovation and Scientific Research in Oil Refining and Petrochemical Processing...


10. Key Risk Factors
Path: MD&A / KEY RISK FACTORS

... AUTHORITY WITHIN IRMS IRSM Process Flow Chart at Gazprom Neft Group * Dependent on the risks severity INDUSTRY RISKS The main businesses of Gazprom Neft are production of crude oil and gas, oil refining, and sales of crude oil and petroleum products. The risks that confront the...


11. Comparis on of results for 2011 & 2010
Path: MD&A / COMPARIS ON OF RESULTS FOR 2011 & 2010

Rising oil prices, growth in refining and optimization of the sales structure contributed to improving financial performance, with revenues up by 34.2% and adjusted EBITDA up by 39.7%; Production of hydrocarbons grew by 8.2% compared with 2010. Production of gas rose by 127.9%, raising total hydrocarbon production to 421.64 mn BOE; Crude oil refining rose by 6.8%; Net profit...


12. Operating segments
Path: MD&A / FINANCIAL APPENDICES / OPERATING RESULTS / OPERATING INDICATORS & ANALYSIS / Operating segments

... operations are in two main segments: Exploration and production, consisting of exploration, development, and production of oil and gas. Refining, marketing and sales including crude refining, purchasing, sale and transportation of crude oil and petroleum products. The two segments are...


13. Operating indicators & analysis
Path: MD&A / FINANCIAL APPENDICES / OPERATING RESULTS / OPERATING INDICATORS & ANALYSIS

... associates); As of December 31, 2011, the Company’s proven reserves were 5,672 mn BOE, including 4,903 mn bbl of oil, and 4.6 trln ft3 of gas; As of December 31, 2011, the Company’s proven reserves, including share in associates, were 8,319 mn BOE, including... ... High-octane gasoline 168 0.35 160 0.24 (4.80)% (31.40)% Low-octane gasoline 33 0.07 53 0.09 60.60% 28.60% Diesel fuel 183 0.51 226 0.,49 23.50% (3.90)% Fuel oil 47 0.23 87 0.31 85.10% 34.80% Aviation fuel 76 0.17 59 0.11 (22.40)% (35.30)% Other 28 0.11 68 0.31...


14. Operating results
Path: MD&A / FINANCIAL APPENDICES / OPERATING RESULTS

Operating results, mn USD 2009 2010 2011 Change, % 2011/2010 Change, % 2010/2009 Revenue Sales of petroleum products, oil and gas 23,773 32,176 43,268 34.5% 35.3% Other sales 532 736 904 22.8% 38.3% Total 24,305 32,912 44,172 34.2% 35.4% Costs and expenses...


15. Human resource development
Path: Social Responsibility / HUMAN RESOURCE DEVELOPMENT

... personnel. The Group partially disposed of its oil field service units and outsourced some of its production and refining functions. These initiatives reduced the number of Gazprom Neft employees. However, the Company’s sales units (aircraft refueling and petroleum... ... a comprehensive incentives system based on competitive wage levels, results-driven remuneration, and a social welfare component. The Company maintains level of remuneration which is the market-average for the Russian oil and gas industry, and salaries...


16. Large transactions & related-party transactions
Path: Appendix / Large transactions & related-party transactions

... (JSC), which secures performance of the obligation of LLC TZK North-West to GPB (JSC) for amounts repayable to GPB (JSC) under an issued bank guarantee, and the obligation to pay fees and costs of GPB (JSC) to JSC Pulkovo Airport to secure discharge of an obligation... ... than 20% of shares in GPB (JSC), since its affiliates (A.B. Miller, A.V. Kruglov, K.G. Seleznev, M.L. Sereda, Å.À. Vasilyevà) simultaneously hold positions on the Board of GPB (JSC). Minutes-0102/08 Meeting date May 10, 2011 7 JSC Gazprom Neft (Customer)...


17. Power Generating & Energy Saving
Path: Social Responsibility / POWER GENERATING & ENERGY SAVING

... Refinery Retrofitting the internal and external power supply system 98 Consumption of electrical energy by business units (refining, logistics and sales), mn kWH Source: Company data download xls Consumption of thermal energy by business units (refining, logistics... ... technology and management solutions. The Company’s crude-oil production units work continuously to reduce atmospheric emissions, particularly by achieving higher levels of utilization of associated oil gas (AOG). The Company has a program to raise the AOG utilization...


18. Company History
Path: Company / Company History

... policy rapidly expanded the Company’s production territory (in Tomsk and Omsk Regions, and Chukotka Autonomous District) and the Company’s sales network (Sverdlovsk and Tyumen Regions, Krasnoyarsk Territory, and the cities of St. Petersburg and Moscow). One... ... Company’s major purchases during this period was its acquisition of 49.9% of the shares in JSC Slavneft Oil Company, which produced oil and gas in Western Siberia and Krasnoyarsk Territory. 2005 Gazprom Group bought a controlling interest in JSC Sibneft...