Skip to main content 2Q 2022 Earnings Presentation – Rosneft Oil Company | Shale Experts
Loading...
Pm

2Q 2022 Earnings Presentation – Rosneft Oil Company

Rosneft Oil Company · Aug 12, 2022 · 31 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. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 1
    IFRS RESULTS Q2 2021 August 13, 2021 1
  2. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 2
    KEY FINANCIAL INDICATORS 233 Rub bn Q2 2021 Net Income 315 Rub bn Q2 2021 Free Cash Flow -5.9 bn Reduction of financial debt and trading liabilities YTD 3
  3. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 3
    KEY EVENTS Rosneft commenced construction of a marine terminal in Sever Bay Port Rosneft and a consortium headed by Vitol signed heads of terms for a transaction providing for the sale of a 5% stake in the Vostok Oil project…
  4. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 4
    ESG EVENTS Rosneft and Baker Hughes signed a strategic Carbon Management Cooperation Agreement Rosneft presented its goals within the framework of sustainable approach to preservation of water resources and biodiversity, waste…
  5. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 5
    COMPANY ACHIEVEMENTS IN ESG CSA1 Rosneft remains a constituent The global leader ahead Rosneft is the best among Russian of the international FTSE4Good The rating increased to 44 of the major O&G companies O&G companies Index…
  6. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 6
    CRUDE OIL DEMAND AND SUPPLY mmbpd 110 Crude oil production Crude oil consumption 100 90 80 Q1 '20 Q2 '20 Q3 '20 Q4 '20 Q1 '21 Q2 '21 Q3 '21 Q4 '21 Q1 '22 Q2 '22 Q3 '22 Q4 '22 7 Source: Bloomberg data, EIA outlook
  7. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 7
    BRENT PRICES /bbl 100 Actual Forecast Range 80 60 40 20 Q4 '19 Q1 '20 Q2 '20 Q3 '20 Q4 '20 Q1 '21 Q2 '21 Q3 '21 Q4 '21 Q1 '22 Q2 '22 Q3 '22 Q4 '22 8 Source: Bloomberg data
  8. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 8
    GROSS UPSTREAM MARGIN1 Monthly average 20 000 Rub/t FY average 16 12 8 4 0 Jan Feb Mar AprMay Jun Jul Aug Sep Oct NovDec Jan Feb Mar AprMay Jun Jul Aug Sep Oct NovDec Jan Feb Mar AprMay Jun 2019 2020 2021 9…
  9. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 9
    OPERATING RESULTS 10
  10. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 10
    KEY OPERATING INDICATORS Hydrocarbon 1,064 1,075 production, 1,045 1,014 kboepd Liquids 4,338 3,898 3,824 3,749 Gas 5.28 5.15 Crude oil processing, mmt 47.44 47.56 2.27 2.88 In Russia Abroad 24.08 23.48 H1 '20…
  11. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 11
    NAVIGATING OPEC+ ENVIRONMENT Rosneft liquids production Russian crude oil production cuts under OPEC+ Agreement1 Low-margin assets production 2020 2021 5,000 kbpd May May Nov Nov Aug Aug Mar Dec Dec…
  12. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 12
    VOSTOK OIL At Zapadno-Irkinsky license area, 500 sq. km of 3D seismic work was conducted to prepare the discovered reserves of the Payakha cluster for further development, exploratory drilling is underway A program of pilot work was…
  13. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 13
    GAS BUSINESS Gas production, bcm 31.79 31.05 16.63 13.43 16.07 14.98 6.56 6.87 17.62 15.16 +16% 8.11 +17% 9.51 The rise in natural gas production is primarily attributed to an increase in H1 '20 H1 '21 Q1 '21 Q2 '21…
  14. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 14
    GAS BUSINESS Rosneft acquired licenses for the Deryabinskoye and Ushakovskoye gas fields, as well as the Severo-Kustarnikovy area in the north of the Yamalo-Nenets Autonomous District and the Krasnoyarsk Region, which will contribute…
  15. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 15
    REFINING Refining margins1, /t Key product prices less cost of Product output, mmt feedstock, Russian refineries1, /t 28.0 25.1 25.7 25.7 24.8 300 30 23.5 40.1 200 14.0 12.4 10 6.5 100 5.5 10.4 0.5 -11.1 0 -17.6 -10…
  16. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 16
    FOCUS ON DISTRIBUTION CHANNELS DEVELOPMENT Netbacks of the main crude oil marketing channels, Crude oil marketing breakdown, /t mmt 113.9 101.9 49.2 52.7 Export, Asia Export, Europe Netback, refining Netback, domestic market…
  17. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 17
    FINANCIAL RESULTS 18
  18. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 18
    EBITDA AND NET INCOME DYNAMICS EBITDA Q2 2021 vs. Q1 2021, Rub bn 7 22 3 (4) (25) 30 1 87 5 571 445 Q1 2021 Crude oil price (Rub) Time lag Number of days Damper effect Other taxes Profits of associates and Change in volumes…
  19. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 19
    COSTS DYNAMICS Controlled costs, Rub bn Maintaining unit lifting costs at a minimum level of 2.6 per boe (Rub 194 per boe) with a 5.2% production 48 increase 43 29 33 40 17 76 Increased Downstream OPEX amid seasonal maintenance…
  20. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 20
    CAPEX H1 2021 CAPEX growth YoY was attributed to the Rub bn planned implementation of the integrated Vostok Oil project and an increase in drilling volumes at Yuganskneftegaz 90% of investment program accounts for 785 Upstream…
  21. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 21
    EFFICIENT DEBT MANAGEMENT Liquidity position Financial debt breakdown Reducing the short-term as of June 30, 2021, bn as of June 30, 2021 financial debt 31.4 44% 33% Rubles 78% 79% 83% Foreign currencies 86% 86% 43% Floating…
  22. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 22
    APPENDIX 23
  23. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 23
    KEY OPERATIONAL HIGHLIGHTS INDICATOR Q2 21 Q1 21 % H1 21 H1 20 % Hydrocarbon production, incl. 4,973 4,763 4.4% 4,869 5,402 (9.9)% kboed Liquids 3,898 3,749 4.0% 3,824 4,338 (11.8)% kbpd Gas 1,075 1,014 6.1% 1,045 1,064 (1.8)%…
  24. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 24
    KEY FINANCIAL HIGHLIGHTS INDICATOR Q2 21 Q1 21 % H1 21 H1 20 % EBITDA, Rub bn 571 445 28.3% 1,016 479 100% Net Income, Rub bn 233 149 56.4% 382 (113) - attributable to Rosneft shareholders Adjusted net income1, Rub bn 265 179…
  25. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 25
    EBITDA AND NET INCOME DYNAMICS EBITDA H1 2021 vs H1 2020, Rub bn 128 (13) (9) (9) (21) 13 19 (206) 160 (29) (5) 509 1,016 479 6M 2020 Crude oil price Time lag Tax maneuver New tax Profits of associates Damper effect Other…
  26. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 26
    OPERATING CASH FLOW CALCULATION Profit and Loss Statement Cash Flow Statement 6M 21, 6M 21, INDICATOR INDICATOR BN BN 5.8 Net income 1 1 Revenue, incl. 53.7 Adjustments to reconcile net income to cash flow from 2.5 2…
  27. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 27
    OPERATING CASH FLOW CALCULATION Rub bn 55 (35) (112) 51 (8) 1,016 967 EBITDA Working capital Share in (profits)/losses of Income tax payments Interest and dividends Other Adj. operating cash flow associates and JVs…
  28. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 28
    FREE CASH FLOW CALCULATION Rub bn (5) 92 72 24 85 (462) 81 165 967 453 505 Net cash provided by Reimbursement of Reimbursement of FX rate Interest on Net change in Prepayments for Reimbursement of Adj. operating CAPEX…
  29. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 29
    FINANCE EXPENSES INDICATOR, RUB BN Q2 21 Q1 20 % H1 21 H1 20 % 1. Interest accrued1 66 64 3.1% 130 130 2. Interest paid and offset2 63 61 3.3% 124 126 (1.6)% 3. Change in interest payable (1-2) 3 3 6 4 50.0% 4. Interest…
  30. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 30
    VARIANCE ANALYSIS H1 2021 EBITDA and net income sensitivity to +/-10% change in Urals price, Rub bn to +/-10% change in Rub/ exchange rate, Rub bn EBITDA EBITDA -122 122 -152 152 Net Income Net Income -97 97 -125 125…
  31. 2Q 2022 Earnings Presentation – Rosneft Oil Company – slide 31
    THANK YOU FOR YOUR TIME 32

From the store

Browse maps, data & reports in the Shale Experts store