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1H 2012 FINANCIAL RESULTS – LUKOIL

LUKOIL · Aug 10, 2012 · 23 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 1
    1H 2012 Financial Results (US GAAP) Moscow August 2012
  2. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 2
    1H 2012 Financial Highlights Net income 4,807 million Basic earnings per share 6.3 EBITDA 8,808 million Net Debt 5,446 million Free cash flow 1,699 million 2
  3. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 3
    LUKOIL Presents High Financial Efficiency Among Russian Peers 1H 2012 Hydrocarbon production, mln boe 1H 2012 Net income, bln Rosneft 478 LUKOIL 4,8 LUKOIL 395 Rosneft 3,4 TNK-BP 370 TNK-BP 3,0 Gazprom Gazprom 217 2,5…
  4. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 4
    LUKOIL Presents High Financial Efficiency Among Russian Peers 1H 2012 Net income, per boe 1H 2012 EBITDA, per boe LUKOIL 12,2 LUKOIL 22,3 Gazprom Gazprom 11,7 18,9 neft neft Rosneft 17,3 TNK-BP 8,1 TNK-BP 15,8 Rosneft…
  5. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 5
    Macroeconomic and Tax Environment 1H 2012 to 1H 2011 Diesel fuel (Europe); 3,3% Positive factors Negative factors R Diesel fuel (Russia); 4,0% E Urals; 3,4% V E Fuel oil (Russia); -7,2% N U Gasoline (Europe); 5,9% E Fuel oil…
  6. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 6
    Main Operating Results 1H 2012 to 1H 2011 Positive factors Oil and NGL production, -1.8% Negative factors Marketable gas production, 10.1% Refined products production, -0.5% High-octane gasoline production in Russia;…
  7. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 7
    LUKOIL Hydrocarbon Production LUKOIL hydrocarbon production, mln boe 500 -0.2% 400 53 59 300 200 343 336 100 0 1 2011 1H 2012 Oil and NGL Gas LUKOIL hydrocarbon production in 1H 2012 was almost flat y-o-y 7
  8. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 8
    LUKOIL Oil Production: Continuous Stabilization LUKOIL daily oil production, th. tons per day 259 2011 254 249 244 2012 239 LUKOIL daily oil production shows upward trend in 2Q 2012 8
  9. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 9
    Western Siberia: From Decline to Growth LUKOIL oil production in Western Siberia, mln tons OOO LUKOIL-Western Siberia oil production, th. tons per day 123 24,6 +0.5% 122 24,5 2012 121 24,4 120 2011 24,3 119 1 2011 1H…
  10. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 10
    Caspian: Valuable Growth Russian oil export netback in various tax LUKOIL oil production in Caspian, mln conditions in 1H 2012, per barrel bbl 110 2,0 100 22,5 27,9 90 +96% 80 1,5 70 60 57,6 50 1,0 40 84,1 30 20 0,5 31,8…
  11. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 11
    Horizontal Drilling Horizontal drilling, wells Horizontal drilling, km 160 395 391 140 390 140 +69% 385 120 380 +7% 375 100 83 370 366 80 365 360 60 355 40 350 7M 2011 7M 2012 7M 2011 7M 2012 LUKOIL share in total…
  12. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 12
    West Qurna-2: Field Development on Track Production drilling has started in 2Q 2012 - 23 directional wells will be constructed Drilling operations - Simultaneously at 5 well pads - State-of-the-art diesel electric units allow…
  13. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 13
    Uzbekistan: Strong Growth LUKOIL natural gas production in Uzbekistan, bcm Net Income in 2011, per boe 3 18 18 +69% 2 16 14 1 12 11 10 0 Western Siberia, oil Khauzak 1 2011 1H 2012 LUKOIL natural gas production, bcm 8…
  14. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 14
    Financial Results 2Q 2Q 1H 1H ,% million ,% 2012 2011 2012 2011 32,397 34,912 -7 Sales 67,658 64,538 5 (2,327) (2,440) -5 OPEX (4,542) (4,578) -1 Taxes other than income tax (9,551) (9,324) 2 (including excise and export…
  15. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 15
    LUKOIL Increases Production of High-Octane Gasoline In Russia Refinery throughputs reconciliation, Kbpd Refining margin of a Russian 1 340 cracking refinery, per barrel 30 28 3 -1 -9 1 325 2011 -38 25 2012 1 310 20 1 295 15 1…
  16. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 16
    Operating Expenses 2Q 2Q 1H 1H , % million , % 2012 2011 2012 2011 944 987 -4 Hydrocarbon extraction expenses 1,850 1,887 -2 363 337 8 Own refining expenses 678 673 1 Refining expenses at third parties and 263 258 2 526 427…
  17. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 17
    million 4 400 4 450 4 500 4 550 4 600 4 650 4 700 4 750 OPEX in 1H 2011 4 578 depreciation. Increase in refining expenses at third parties and +23.2% affiliated refineries by 2% Y-o-Y due to rouble…
  18. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 18
    SG&A and Transportation Expenses SG&A expenses, million Transportation expenses, million 1 100 1 700 1 653 1 043 1 604 1 605 1 000 977 977 1 600 932 1 497 900 1 500 1 444 829 1 400 800 1 300 700 2Q 2011 3Q 2011 4Q 2011 1Q…
  19. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 19
    million * 4 000 5 000 6 000 7 000 8 000 Net income in 1H 2011 6 768 Net increase in revenue* 343 Increase in gain on disposals and 326 impairments of assets Change in revenue less purchases of oil and…
  20. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 20
    CAPEX Breakdown 2Q 2Q 1H 1H ,% million ,% 2012 2011 2012 2011 2,313 1,531 51 Exploration and production 4,315 2,924 48 1,890 1,274 48 Russia 3,519 2,435 45 423 257 65 International 796 489 63 390 271 44 Refining and marketing…
  21. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 21
    Robust Financial Position Total debt and net debt, bln 4 2 2.8 3.4 LUKOIL net debt decreased 0 -2 by 893 mln (-14.1%) 6.3 5.4 -4 -6 in 1H 2012 1H 2012 -8 2011 Cash and cash equivalents Net debt Debt-to-capital ratio, % Net…
  22. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 22
    Robust Competitive Position in the Industry Globally Lifting costs per boe, Net income per boe, per boe 40 15 36 12 32 28 9 24 20 6 16 12 3 8 4 0 0 2006 2007 2008 2009 2010 2011 1H 2012 2003 2004 2005 2006 2007 2008 2009…
  23. 1H 2012 FINANCIAL RESULTS – LUKOIL – slide 23
    Conclusion - Investment policy focuses on the development of E&P segment, increase of E&P share in total CAPEX - Increasing efficiency of operating activities, cost control, and OPEX optimization - Maintaining conservative…

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