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Key Documents

​Rusneftegaz has elected to publish a number of materials, including all of our annual financial statements since 2015, within the framework of our ongoing commitment to maintaining corporate transparency. In accordance with current legislation, each report highlights the earnings accumulated in the twelve months ending 31 December, in addition to changes in asset values and cash flows. All fiscal records were prepared in full compliance with International Financial Reporting Standards, otherwise known as IFRS, and were audited before their first issue. These documents can ultimately be downloaded below, with all such disclosures being contingent upon approval from the board of directors prior to release, and subject to the terms and conditions outlined in our privacy policy.
An outline of this report is as follows:
  • In 2021, Rusneftegaz rendered a full and comprehensive recovery from the difficulties experienced in the first year of the coronavirus pandemic, and ultimately announced record revenues and profits of $655,8 million and $255,3 million respectively.
  • Although oil production fell to an average of 15.335 barrels per day (bpd), our organization reported the highest earnings from these operations in seven years at $242,8 million.
  • Similarly, Rusneftegaz also disclosed both record turnover and profits from the generation of electricity, totaling $413,0 million and $224,2 million accordingly.
  • At the end of the financial year, we had no outstanding short or long-term loans or borrowings, having settled all remaining balances during 2021.
  • Despite major revisions to our investment plan, Rusneftegaz still spent $54,4 million on the purchase and upgrade of new and existing assets, a figure that was forecast to grow further in the following twelve months.
A summary of our business in 2020 is as follows:
  • Despite the coronavirus pandemic, Rusneftegaz announced a strong financial performance with a pre-tax profit of $110,0 million.
  • Our organization extracted 6,06 million barrels of oil throughout 2020, with a peak daily production rate of 18.959 barrels per day.
  • Rusneftegaz generated 8,55 TWh of electricity in 2020, and the sector reported a considerable profit of $165,0 million.
  • Cash flows for our company remained healthy, with investments of $150,1 million made in new assets.
  • Transatlantic sales reached a record high that year, with Rusneftegaz accomplishing $1,8 million in overseas turnover from our international trading hub.
A brief synopsis of our results for 2019 is as follows:
  • Rusneftegaz recorded an excellent financial year in 2019, with revenue increasing 4,8% to a new high of $563,7 million, yielding a post tax profit of $178,9 million.
  • Over a quarter of all turnover derived from international sources, a company record, with our organization registering $142,4 million in global sales, worth 25,3% of all revenue.
  • Rusneftegaz generated 10,46 TWh of electricity in 2019, a total capacity utilization of 64,2%, and also extracted 5,63 million barrels of oil, with an average daily production of 15.431 barrels.
  • Our organization funded $218,4 million of investment in new infrastructure, a year-on-year rise of 33,5%, the majority of which was used to develop our oil business.
  • The total value of Rusneftegaz escalated by 13,6% to $1,63 billion, with our organization holding no long-term debts or borrowing at the end of 2019.
An outline for our financial reporting in 2018 is as follows:
  • Rusneftegaz recorded excellent results in 2018, with total reported revenue rising by 7,1% to $537,9 million, with operating profit also escalating for a sixth consecutive year by 3,2% to $229,9 million.
  • At the end of the year, the total value of our company was at a record high, with the figure ascending by 13,4% from $1,26 billion to $1,43 billion.
  • By 31 December 2018, our cash had position improved by 134,8% to $147,6 million, with Rusneftegaz holding no outstanding loans or borrowings.
  • Throughout the period investments worth $163,5 million were made, with total spending on our electricity generation business accounting to $148,6 million, and a further $14.8m being spent our on oil production operations.
  • The board of directors announced plans to accelerate an international expansion of our operations the following year. This included opening an international trading hub and acquiring and investing in our first foreign assets. Whilst the former was successful, ultimately the purchase was not completed.
​The highlights of our fiscal results in 2017 are as follows:
  • Rusneftegaz reported significant growth in our financial results with an increase in revenue of 13,9%, totalling $502,3 million in 2017, in addition to an escalation in operating profit of 22,4% to $251,4 million.
  • Total electricity production rose from 10,0 TWh to 10,5 TWh, and the volume of oil extracted also increased from 6,03 million barrels to 6,16 million barrels.
  • The value of our company rose by 16,5% to $1.27 billion, with a notable 16.5% increase in the value of our assets from $987,7 million in 2016 to $1,15 billion in 2017.
  • During the year, Rusneftegaz made investments of $179,4 million. As a result, $541,1 million has been spent cumulatively on new assets since the beginning of 2015. 
  • As of 31 December 2017, all major loans and borrowings were settled, with the only outstanding payments at the time being short-term payables.
A brief analysis of our financial reporting in 2016 is as follows:
  • Rusneftegaz announced a pre-tax profit of $178,2 million in 2016 from total revenues of $441,0 million, representing year-on-year growth of 15,9% for the former and 2,3% for the latter.
  • There was an increase of $9,2 million in turnover from electricity generation as a result of upgrades and improvements made, leading to an additional $22,3 million of profit. This investment, in conjunction with a worldwide fall in oil prices, led to a significant $30,3 million reduction in electricity generation costs, including a notable $15,6 million decline in fuel expenses.
  • At the beginning of 2016, Rusneftegaz negotiated a loan of $250,0 million to acquire and renew assets. In total, our organization invested $274,5 million that year, including $20,0 million on oil and gas equipment.
  • Likewise, further investments were also made in 2016 to our electricity infrastructure, with the purchase of new equipment to extend the life of our generation capacity, thus ensuring its operation to this day.
  • Oil production expanded from 16.713 bpd (barrels per day) to 17.474 bpd, with the corresponding costs reported also declining by $6,9 million. This, however, was insufficient in preventing a $47,9 million fall in profits for that sector, although this was later recovered in future years.
An outline of the contents of these statements for 2015 is as follows:
  • Rusneftegaz increased pre-tax profits for the financial year from $122,5 million to $153,7 million, in spite of turbulent economic conditions at the time stemming from unstable commodity prices.
  • Investments made during the period more than doubled from $29,5 million to $87,2 million, with a long-term plan to expand our operations that was later fulfilled.
  • Cuts made to costs resulted in net profits from oil production increasing from $118,5 million to $126,4 million, despite falls in both extraction and revenue.
  • The electricity division raised revenue from $184,3 million in 2014 to $233,5 million in 2015, notwithstanding falls in both total generation and the value of the ruble.
  • Pre-tax profits earned from power production surged from $15,5 million to $37,1 million, with considerable growth in the sector being forecasted at the time that was eventually realized in the years ahead.

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