Bashneft Group IFRS results for the fourth quarter and the 12 months of 2012
The main achievements of Bashneft in 2012 Operating results Oil production increased by 2.2% to 15,437 thousand tonnes; Crude oil refining remained at the level of 20,773 thousand tonnes; Refining depth changed slightly and reached…
Commitment to highest governance standards Corporate governance achievements of General shareholder meeting 2012 The share of Independent Directors increased by 40%; Board of Directors CEO (General Director) Felix Evtushenkov The…
Bashnefts strategic goal in the sphere of HSE is to become an industry leader among Russian companies The Company assumed the responsibility for HSE committee, which making industry secure, The Company has consists of eight March 5…
Optimization of Group structure final steps in creating vertical integrated oil company The historical corporate structure did not allow to fully achieve strategic goals in the sphere of corporate governance Transition to a single…
The reorganization carried out strictly within the announced timeframe, in full compliance with Russian law, and with the best market practices March 11, April 26-27, June 27, November 20, End of February 2012 2012 2012 2012 2013…
Principles of reorganization ensure maximum protection of the rights of minority shareholders OJSC JSFC 50.6% * (50.6% **) Minority LLC Sistema- shareholders Sistema Invest 50.10% * (57.26% **) 25.24% * (30.24% **) 49.4% *…
Consolidation of Bashneft petrochemical assets to develop segment as a separate business Bashneft-Ufaneftekhim Branch JSOC Bashneft (aromatic hydrocarbons complex) 56.5% 100% OJSC United Petrochemical Under the management of…
The reorganization of oilfield service companies will improve efficiency and cost controls The oilfield service holding company managed by LLC Bashneft-Service Assets includes 11 oilfield service companies which have a market…
Update on the T&T project In 2012 Bashneft implemented the programme for developing the R.Trebs and A.Titov fields in accordance with the schedule to ensure that the first oil will be produced at these fields as early as in 2013, as…
Expanding opportunities in the exploration and production of hydrocarbons in 2012, Bashneft entered the first international project on exploration, development and production in Block 12 in Iraq License blocks in Iraq On November 8,…
Operational results for the fourth quarter and the 12 months of 2012
Efficient development of the resource base Trebs & Titov oilfields in The Group has development licences for 192 oil and gas fields. 171 of the Groups fields are Nenets Autonomous Okrug (2 oilfields) in commercial operation; Due to…
Production reaches a new record level Average daily oil production, thousand bbl/d In the fourth quarter of 2012, the Groups average daily production reached +13.1% 320 310 thousand bbl/d, hitting a ten-year record high; 310 310 308…
Bashnefts oil refining complex is an industry leader in terms of refining depth and has the most advanced equipment in Russia In 2012 Bashneft refined 20.8 million tonnes of oil, which accounts for about Cooperation among Bashnefts…
Ufa refinery modernization program ensures Bashneft timely compliance with the requirements of technical regulations on fuel quality Oil refining During the 12 months of 2012 refining totalled 20,773 thousand tonnes, 6,0 70% decreasing…
Marketing: efficiently developing own marketing channels Exports of petroleum products, Exports of petroleum products, Bashnefts own retail network is expanding rapidly: from 318 filling stations 4Q 2012 2012 in 2009 to 488 filling…
Rebranding of Bashnefts filling stations: 98 stations by the end of 2013 The concept of Bashnefts brand includes a uniform style and exterior design, as well The Republic of Bashkortostan: Renovation 6; as (depending on the type of…
Financial results for the fourth quarter and the 12 months of 2012
In 2012 Bashnefts financial results hit a record high Revenue for 2012, bln roubles In 2012 Bashnefts revenue reached a record high and amounted to 532.5 billion +49.8% 600,0 roubles, which is 49.8% higher than in 2010, due to an…
Strong revenue growth Revenue factor analysis, thousand tonnes,12M 2012 vs. 12M 2011 In 2012 Bashnefts revenue rose by 9.5% to 532.5 billion roubles. 25 000 +0.7% 24 800 The increase in revenue is related mainly to a 24.5% increase in…
Changes in operating expenses 4Q 2012 3Q 2012 , % Operating expenses, bln roubles 12M 2012 12M 2011 , % 14.9 13.6 9.6% Production and operating expenses 53.6 49.9 7.4% 33.2 35.6 -6.7% Cost of purchased crude oil, gas and petroleum…
Unit costs strict cost control Unit production costs, roubles/bbl* 250 240 For the twelve months of 2012, unit production costs remained at the level reached 202.3 214 210 204 205 roubles/bbl 205.1 roubles/bbl in 2011 and totalled…
CAPEX and investments in the acquisition of plant, property and equipment CAPEX breakdown For the twelve months of 2012, capital investments less the acquisition of licences in the in 4Q 2012 , mln roubles NAO in the second quarter of…
Debt Portfolio - consistent efforts to reduce the cost of debt Debt structure, bln roubles As of December 31, 2012, the Groups total debt in the form of long-term and short-term borrowings amounted to 110.2 billion roubles; Short-term…
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