Sales revenue
| 2014 | 2015 | Change, % | |
|---|---|---|---|
| Oil | |||
| Export | 107,340 | 115,905 | 8.0 |
| Export sales | 229,065 | 180,240 | (21.3) |
| Minus: export duties | (121,725) | (64,335) | (47.1) |
| International market | 4,036 | 9,146 | 126.6 |
| Export to CIS | 15,889 | 27,581 | 73.6 |
| Export and sales to CIS | 15,889 | 28,416 | 78.8 |
| Minus: export duties | — | (835) | — |
| Domestic market | 42,624 | 81,187 | 90.5 |
| Total revenue from oil sales | 169,889 | 233,819 | 37.6 |
| Gas | |||
| International market | 1,604 | 3,411 | 112.7 |
| Domestic market | 24,406 | 28,243 | 15.7 |
| Total revenue from gas sales | 26,010 | 31,654 | 21.7 |
| Petroleum products | |||
| Export | 282,084 | 202,477 | (28.2) |
| Export sales | 400,345 | 260,731 | (34.9) |
| Minus: export duties | (118,261) | (58,254) | (50.7) |
| International market | 104,413 | 107,405 | 2.9 |
| Sales on the international market | 146,153 | 171,749 | 17.5 |
| Minus: excise tax Includes the excise tax calculated based on the volume of petroleum products sold by the Serbian subsidiary. | (41,740) | (64,344) | 54.2 |
| CIS | 63,989 | 78,070 | 22.0 |
| Export and sales to CIS | 64,582 | 78,134 | 21.0 |
| Minus: export duties | (593) | (64) | (89.2) |
| Domestic market | 715,854 | 740,520 | 3.4 |
| Total revenue from petroleum product sales | 1,166,340 | 1,128,472 | (3.2) |
| Other revenue | 45,999 | 73,998 | 60.9 |
| Total revenue | 1,408,238 | 1,467,943 | 4.2 |
Total revenue increased by 4.2% to RUB 1,467.9 billion in 2015 from RUB 1,408.2 billion in 2014.
Revenue from oil sales grew by 37.6% to RUB 233.8 billion from RUB 169.9 billion.
Revenue from gas sales increased by 21.7% to RUB 31.7 billion in 2015 from RUB 26.0 billion in 2014.
Petroleum product sales decreased by 3.2% last year to RUB 1,128.5 billion from RUB 1,166.3 billion in 2014.
Other revenue primarily consists of revenue from transportation, construction, utility and other services. Other revenue soared by 60.9% mainly due to growth in operator services provided to the Messoyakhaneftegaz joint venture in connection with the development of the project.
| 2014 | 2015 | Change, % | |
|---|---|---|---|
| Oil (MN T) | |||
| Export sales | 8.47 | 8.11 | (4.3) |
| Sales on the international marketIncludes product-sharing agreements (PSA). | 0.13 | 0.48 | 269.2 |
| Export to CIS | 1.16 | 1.88 | 62.1 |
| Sales on the domestic market | 3.96 | 6.14 | 55.1 |
| Total oil sales | 13.72 | 16.61 | 21.1 |
| Gas (BN m3) | |||
| Sales on the international market | 0.13 | 0.22 | 69.2 |
| Sales on the domestic market | 12.37 | 13.56 | 9.6 |
| Total gas sales | 12.50 | 13.78 | 10.2 |
| Petroleum products (MN T) | |||
| Export sales | 15.64 | 11.81 | (24.5) |
| Sales on the international market | 3.03 | 3.25 | 7.3 |
| Export and sales to CIS | 2.09 | 2.28 | 9.1 |
| Sales on the domestic market | 27.54 | 27.50 | (0.1) |
| Total petroleum product sales | 48.30 | 44.84 | (7.2) |
| 2014 | 2015 | Change, % | |
|---|---|---|---|
| Oil (RUB/T) | |||
| Export sales | 27,044 | 22,224 | (17.8) |
| Export to CIS | 13,697 | 14,671 | 7.1 |
| Sales on the domestic market | 10,764 | 13,223 | 22.8 |
| Petroleum products (RUB/T) | |||
| Export sales | 25,598 | 22,077 | (13.8) |
| Sales on the international market | 48,235 | 52,846 | 9.6 |
| Export and sales to CIS | 30,900 | 34,269 | 10.9 |
| Sales on the domestic market | 25,993 | 26,928 | 3.6 |
Oil sale prices fell by 17.8% in export sales compared with 2014, but increased by 7.1% in exports to the CIS and by 22.8% in domestic market sales.
The average petroleum product prices also moved in different directions: they fell by 13.8% in export sales, but demonstrated growth ranging from 3.6% in sales on the domestic market to 10.9% in export and sales to the CIS.
Oil sales in physical terms
The 4.3% year-on-year decrease in export oil sales was due to growth in oil sales in Russia in connection with the more attractive pricing environment of the domestic market.
The 62.1% year-on-year increase in export oil sales to the CIS resulted from the start of oil sales in Uzbekistan and increased sales at the Mozyr Oil Refinery.
The 55.1% increase in oil sales on the domestic market was possible due to the improved economic efficiency of trading operations on the domestic market.
Gas sales
Gas sales on the domestic market increased by 9.6% due to growth in gas production at subsidiaries and proportionately consolidated companies.
Petroleum product sales
| 2014 | 2015 | Change, % | ||||
|---|---|---|---|---|---|---|
| RUB mn | mn t | RUB mn | mn t | RUB mn | mn t | |
| High-octane petrol | 2,564 | 0.08 | 1,515 | 0.05 | (40.9) | (37.5) |
| Low-octane petrol | 5,336 | 0.17 | 642 | 0.02 | (88.0) | (88.2) |
| Naphtha | 36,044 | 1.16 | 28,904 | 1.08 | (19.8) | (6.9) |
| Diesel fuel | 148,502 | 4.59 | 98,405 | 3.34 | (33.7) | (27.2) |
| Fuel oil | 137,816 | 7.12 | 78,146 | 5.45 | (43.3) | (23.5) |
| Jet fuel | 24,431 | 0.72 | 17,947 | 0.54 | (26.5) | (25.0) |
| Marine fuel | 26,505 | 1.03 | 17,304 | 0.68 | (34.7) | (34.0) |
| Bitumen | 831 | 0.04 | 406 | 0.03 | (51.1) | (25.0) |
| Oils | 3,925 | 0.09 | 5,570 | 0.12 | 41.9 | 33.3 |
| Petrochemical products | 7,941 | 0.39 | 8,415 | 0.38 | 6.0 | (2.6) |
| Other | 6,450 | 0.25 | 3,477 | 0.12 | (46.1) | (52.0) |
| Total | 400,345 | 15.64 | 260,731 | 11.81 | (34.9) | (24.5) |
The 24.5% year-on-year decrease in the volume of petroleum product sales resulted from a reduction in the sale of third-party resources and decreased fuel oil production.
| 2014 | 2015 | Change, % | ||||
|---|---|---|---|---|---|---|
| RUB mn | mn t | RUB mn | mn t | mn t | RUB mn | |
| High-octane petrol | 25,693 | 0.75 | 32,971 | 0.81 | 28.3 | 8.0 |
| Low-octane petrol | 3,884 | 0.13 | 5,019 | 0.14 | 29.2 | 7.7 |
| Diesel fuel | 24,617 | 0.76 | 26,479 | 0.71 | 7.6 | (6.6) |
| Fuel oil | 688 | 0.07 | 471 | 0.08 | (31.5) | 14.3 |
| Jet fuel | 3,192 | 0.09 | 5,505 | 0.17 | 72.5 | 88.9 |
| Bitumen | 1,870 | 0.13 | 2,395 | 0.19 | 28.1 | 46.2 |
| Oils | 2,181 | 0.07 | 2,435 | 0.07 | 11.6 | — |
| Petrochemical products | 994 | 0.05 | 1,218 | 0.06 | 22.5 | 20.0 |
| Other | 1,463 | 0.04 | 1,641 | 0.05 | 12.2 | 25.0 |
| Total | 64,582 | 2.09 | 78,134 | 2.28 | 21.0 | 9.1 |
The sale of petroleum products in the CIS grew by 21.0% in physical terms and by 9.1% in value terms.
| 2014 | 2015 | Change, % | ||||
|---|---|---|---|---|---|---|
| RUB mn | mn t | RUB mn | mn t | mn t | RUB mn | |
| High-octane petrol | 285,311 | 8.60 | 311,214 | 8.94 | 9.1 | 4.0 |
| Low-octane petrol | 3,604 | 0.13 | 2,028 | 0.07 | (43.7) | (46.2) |
| Diesel fuel | 220,000 | 7.35 | 231,189 | 7.44 | 5.1 | 1.2 |
| Fuel oil | 18,271 | 1.74 | 11,629 | 1.55 | (36.4) | (10.9) |
| Jet fuel | 76,108 | 2.91 | 76,269 | 2.81 | 0.2 | (3.4) |
| Marine fuel | 60,823 | 3.39 | 53,451 | 3.30 | (12.1) | (2.7) |
| Bitumen | 16,405 | 1.58 | 14,604 | 1.50 | (11.0) | (5.1) |
| Oils | 7,693 | 0.22 | 10,249 | 0.23 | 33.2 | 4.5 |
| Petrochemical products | 18,969 | 0.98 | 19,607 | 1.01 | 3.4 | 3.1 |
| Other | 8,669 | 0.64 | 10,280 | 0.65 | 18.6 | 1.6 |
| Total | 715,853 | 27.54 | 740,520 | 27.50 | 3.4 | (0.1) |
Total petroleum product sales on the domestic market in 2015 remained at the previous year’s level. The sales structure is consistent with the production structure.
The 5.1% year-on-year decrease in bitumen sales resulted from decreased funding for the Russian road industry.