Slavneft, NGK

The oil and gas company Slavneft is one of the ten largest oil companies in Russia. The vertically integrated structure of the holding makes it possible to ensure a full production cycle: from exploration of fields and production of hydrocarbon reserves to their processing. Slavneft holds licenses for geological exploration, exploration and production of oil and gas in 35 licensed areas in Western Siberia and the Krasnoyarsk Territory.

The annual production of all enterprises of the holding exceeds 18.3 million tons of oil. The company's refineries have significant production capacities and modern equipment, which makes it possible to produce high quality products at the level of world standards.

Performance indicators

2023: 4x profit growth to RUB 2.24 bln

At the end of 2023, Slavneft received a net profit of 2.24 billion rubles. This is 4.2 times more than in the previous year, when a profit of about 536.62 million rubles was recorded. The corresponding indicators are given in the financial report published on March 20, 2024.

The company's revenue in 2023 reached 25.99 billion rubles. For comparison, a year earlier this figure was approximately 18.61 billion rubles. Thus, the growth was at around 40%. The cost of sales on an annualized basis rose by 29.3% - from 17.15 billion rubles to 22.18 billion rubles. At the same time, gross profit in 2023 reached 3.81 billion rubles against 1.46 billion rubles in 2022.

Unsplash

Commercial expenses of Slavneft in 2023 amounted to 12.05 million rubles against 7.65 million rubles a year earlier. General and administrative expenses on an annualized basis decreased from 1.16 billion rubles to 1.14 billion rubles. Income from participation in other organizations rose from 134 thousand rubles in 2022 to 657.27 million rubles in 2023.

The report says that other revenues of Slavneft in 2023 were recorded at around 400.34 million rubles against 249.29 million rubles a year earlier. At the same time, other expenses on an annualized basis decreased from 170.57 million rubles to 134.33 million rubles.

The Slavneft refinery complex includes two large enterprises - PJSC Slavneft-YANOS (Yaroslavl Region of the Russian Federation) and OJSC Mozyr Refinery (Gomel Region of the Republic of Belarus). An important area of ​ ​ the company's development strategy is the development of the resource potential of Eastern Siberia. Subsoil exploration, exploration and production of hydrocarbons in the region are carried out by Slavneft-Krasnoyarsk Neftegaz LLC and Baikit Oil and Gas Exploration Expedition LLC (BNGRE LLC), which are part of the holding^[1]

2022: Halving profit to RUB 536 million

At the end of 2022, Slavneft, which is owned on a parity basis by Rosneft and Gazprom Neft, received 536.62 million rubles of net profit, which is almost half the profit a year ago (1.06 billion rubles). The company released such data at the end of June 2023.

As Interfax notes, the net profit received in 2022 turned out to be the worst result in 6 years - at the end of 2022, Slavneft recorded a loss and since then has stopped paying dividends.

Slavneft received 536.62 million rubles of net profit

In 2022, Slavneft increased oil production by 22% compared to the previous year, to 12 million tons. Associated gas production amounted to 836 million cubic meters (an increase of 34.4%)

In 2022, as a result of a complex of geological exploration work, the use of new technologies in operational drilling and the transfer of open hydrocarbon reserves to industrial categories, Slavneft AB1C1 replenished the reserves of the resource base by 215.5% (an increase of 25.9 million tons).

235 new production wells were commissioned in the licensed areas of the company. Penetration in production drilling increased by 41.1% and reached 1.12 million meters.

Drilling operations at the Slavneft fields in the Krasnoyarsk Territory are carried out by Baikit Oil and Gas Exploration Expedition LLC. In 2022, the company's teams drilled more than 222 thousand meters of rock, which exceeds the previous year's figure by 12.1%.

Last year, Slavneft opened and put on the balance sheet State the commission for reserves of useful 5 minerals new oil deposits in the Khanty-Mansi Autonomous Okrug, located on the Pokamasovsky, North-Pokursky and South-Agansky license areas.

According to the company, in 2022 the volume of oil refining at Slavneft enterprises, taking into account the company's share in Mozyr Refinery OJSC (42.58%, Belarus), amounted to 17.9 million tons. Slavneft-YANOS (Yaroslavl region) processed 14.9 million tons, the Mozyr refinery in the company's share - 3 million tons of hydrocarbon raw materials.^[2]

Notes