The Collective of the Year 2018
In the category “The Collective of the Year 2018”, the Khanty-Mansiysk Branch of the Company was pronounced the winner. The Production Costs Optimisation Programme has been successfully operated by the Company and its subsidiaries for the second consecutive year. As a result of implementation and development of the Programme, the …
RussNeft: Employees Ideas Delivers Benefits of Over RUB 200 mln
For the second consecutive year, the Production Costs Optimisation Programme has been successfully operated by the Company and its subsidiaries. As a result, a database of considered ideas is gradually formed and updated, the expertise in implementation of technical measures, organizational and administrative solutions are accumulated. Within the programme framework, …
RussNeft: Issues ISFR Financial Results for 2018
PJSC “RussNeft” (hereinafter referred to as RussNeft or the Company) (MOEX: RNFT), issues an audited consolidated financial report for the year ending December 31, 2018, prepared in compliance with International Standards of Financial Reporting (ISFR). Highlights: EBITDA grew by 62% in 2018 to 48.6 bn Rub. Adjusted profit[1] made up 16.8 …
Russneft: Fitch has Improved Outlook at ‘B’ to Positive from Stable
The Outlook revision reflects Russneft’s decreasing leverage, driven by improved per-barrel profitability on the back of higher oil prices and more production coming from depleted and hard-to-recover reserves, Fitch said. Russneft’s funds from operations net leverage (adjusted for operating leases and including long-term prepayments and preferred stock) fell to 3.4x …
Russneft in 2018 Increased Revenue 1.4 Times Which Amounted to RUB 176.4 billion
The revenue increased 1.4 times and amounted to RUB 176.4 billion. The cost price also increased 1.4 times to RUB 133.5 billion, the gross profit grew 1.6 times to RUB 97 billion. The profit from sales last year amounted to RUB 29.3 billion against RUB 13.5 billion a year earlier, …
RussNeft Increases its Reserves by 40 Million Tonnes in 2018
PJSC “RussNeft” oil reserves growth amounted to 39.6 million tonnes in 2018. The bulk of geological exploration works in the reporting year was done in Khanty-Mansi Autonomous Okrug. Every year the Company implements the extensive exploration programme, and the main focus areas of the oil reserves addition are the unconventional …
RussNeft: Plans to Increase Oil Production in 2019 to 7.4 million tons
As the company notes, the Board of Directors of Russneft approved the company’s business plan for 2019. “The target production level approved in the business plan will be 7.355 million tons (excluding oil production in Azerbaijan),” the report said. Financing of capital investments is planned at the level of 28 …
Russneft: 2018 H1 Results – Revenue Up 53%
RussNeft showed significant growth of financial indicators in 1H 2018 at flat production. The revenue grew by 53% and amounted to 88.4 bn Rub. EBITDA was 24.8 bn Rub., by 103% higher against the same period last year. The growth of financial indicators was fueled by the increase in oil …
RussNeft: First Quarter Results
The revenue of RussNeft in the first quarter amounted to RUB 38.326 billion versus RUB 28.438 billion YOY. Cost of sales grew by 32% to RUB 30.101 billion. Profit on sales rose by a factor of 1.8 to RUB 4. 909 billion. Profit before tax showed an 11%-increase and amounted …
RussNeft: Uses Plug & Perf at the Tagrinskoye Field
The Plug & Perf technology has a significant advantage compared to the introduced analogues which opens new opportunities for hard-to-recover resources development. The main advantages of the Plug & Perf technology are: possibility to perform multi-phased hydro fracking at any intervals; number of phases may be any and multiple; possibility …