DOCSLIB.ORG

Annual Report 2019 Annual Report 2019 (DRAFT) Gazprom Neft Performance Governance at a Glance Review System TABLE TABLE CONTENTS OF

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2019 Annual Report 2019 (DRAFT) Gazprom Neft Performance Governance at a Glance Review System TABLE TABLE CONTENTS OF Annual Report 2019 Annual Report 2019 (DRAFT) Gazprom Neft Performance Governance at a glance review system TABLE TABLE CONTENTS OF 4 Gazprom Neft at a glance 52 Performance 114 Corporate governance 6 Geographical footprint 54 Resource base and production 162 Internal control and risk management 8 Gazprom Neft investment case 68 Refining and manufacturing 184 Investor and shareholder relations Online Annual Report 2019 10 2019 highlights 78 Sales of oil, gas and petroleum products 12 Letter from the Chairman of the Board 98 Financial results of Directors About this Report This Report by the Public Joint Stock Company Strategic report Technological Sustainable Gazprom Neft (Gazprom Neft PJSC, the company) for 2019 includes the results of operational development development activity of Gazprom Neft PJSC and its subsidiaries, collectively referred to as the Gazprom Neft Group (the Group). Gazprom Neft PJSC is the parent company of the Group and provides consolidated information on the operational and financial performance of the Group’s key assets for this Annual Report. The list of subsidiaries 16 The implementation of Strategy 2030 104 Technological development 196 Sustainable development covered in this Report and the shares held 198 Health, safety and environment (HSE) by Gazprom Neft PJSC in their capital are disclosed 18 Letter from the Chairman 106 Innovation management in notes to the consolidated IFRS financial of the Management Board 111 Import substitution 200 Environmental safety statements for 2019. 20 Market overview 204 Employee development This Report is prepared based on analysis 208 Social policy of operational data, consolidated IFRS financial 28 Global trends and their impact indicators and international GRI guidelines. on the Gazprom Neft strategy Information provided in the Report has been verified 30 Strategy 2030 by the Audit Committee and approved by the Board of Directors and the Annual General Meeting 34 Business model of Shareholders of the Company. 36 2019 results Appendices In calculations of shareholdings, percentages, 38 Digital transformation and total amounts, the Annual Report may contain discrepancies as a result of rounding. Data provided 42 Operational transformation in the Annual Report may differ insignificantly 46 Organisational transformation from previous disclosures, also as a result of rounding. 48 Cultural transformation 213 Consolidated financial statements 322 List of major transactions and related-party as of and for the year ended 31 December transactions The Gazprom Neft PJSC ‘s Annual Report has been provisionally approved by the Board of Directors, 2019 with independent auditor’s report 333 Excerpts from management’s discussion Minutes No. PT-0102/16 of 27.04.2020. 291 Company history and analysis of financial condition and results 303 Structure of the Gazprom Neft Group of operations 305 Information on energy consumption 345 Glossary by Gazprom Neft 348 Disclaimer 306 Taxation in oil industry 349 Addresses and contacts 315 Report on compliance with the principles and recommendations set out in the corporate governance code ANNUAL REPORT 2019 Gazprom Neft at a glance Gazprom Neft at a glance Geographical footprint Gazprom Neft investment case 2019 highlights Letter from the Chairman of the Board of Directors HOW TO EXTRACT OIL NOWDAYS? Denis Mikolae, oil and gas production operator GAZPROM NEFT Leader in the commercial development of the Russian Arctic Company profile Strategic report Performance Prirazlomnoye Novy Port Messoyakha Technological development The first — and so far only — A unique logistics strategy The northernmost Governance system The company's Sustainable development official website oil production project to ensure the year-round onshore oilfield in Russia Appendices on the Russian Arctic shelf transportation of Arctic oil GAZPROM NEFT AT A GLANCE An industry leader in technology A company setting its By 2030, thanks to new technology, Gazprom Neft intends to halve the time sights on the future it takes to see the first commercial inflows from an oilfield, to speed up Gazprom Neft the implementation of major oil and gas projects by 40%, and to reduce The company’s strategy is to become a leader 1 production management costs by 10% in priority areas of technology: increasing the oil recovery factor (ORF) at mature fields, Artificial intelligence (AI) Smart logistics developing multi-phase deposits and low- PJSC in geological exploration – A pioneering Arctic-specific permeability reservoirs, undertaking safe – Using AI to analyse geological data logistics management system and efficient offshore operations under ice and search for new oil deposits – Automated systems for loading conditions, and utilising cutting-edge refining – Building digital twins of oilfields, and dispatching oil products catalysts and processes. Implementing mtoe and creating a digital platform – Digitised vehicle fleet to transport a number of major initiatives – including is a vertically for asset development forecasting petroleum products cutting unit well costs at new production – Developing software to eliminate projects in the Yamalo-Nenets Autonomous 1,583 uncertainties and support decision Digitalisation in product Okrug; developing a range of technologies integrated oil making distribution system for developing non-traditional reserves; proved hydrocarbon – Robotised refuelling complexes facilitating the viable deployment of ASP- reserves Enhanced hydrocarbon recovery – Petroleum-product quality-control flooding and miscible gas displacement company technologies system deployed throughout technologies; and building a high-tech catalyst – The Integrated Field Development the entire logistics chain plant – will bring tens of millions of tonnes Centre – Mobile apps and services developed of additional oil into production, as well – Technologies for the production for partners and clients as allowing the company to increase efficiency mtoe of hard-to-recover oil in oil refining. – Unique expertise in working on the Russian Arctic Shelf Its core activities include exploration, 96.1 production and sales of oil and gas, oil High-technology oil refining hydrocarbon production – The Gazprom Neft Downstream refining, and production and distribution in 2019 Efficiency Control Centre, For more details, see For more details, see of petroleum products. – Digital twins of process units pp. 52–111 p. 16 and facilities – The Neftekontrol (oil control) system The company operates in Russia’s are located in Russia (Omsk, Moscow mt major oil and gas regions as well and Yaroslavl) and Serbia. as abroad. Gazprom Neft and its A company committed to sustainable development values upstream subsidiaries are engaged The company’s filling station 41.5 in oil and gas exploration, network throughout Russia, the CIS Health and safety Human resources development development and production and the Balkans has a total of 2,077 refining throughput – ‘Target Zero’ as a strategic – Single incentive model in the Yamalo-Nenets and Khanty- outlets. priority3 for employees Mansi Autonomous Okrugs, – A developing safety culture – Partnership with trade unions the Tyumen Oblast, the Republic Gazprom Neft is one of the world’s – Digital platform for operational – Training, leadership and career- of Sakha, the Irkutsk, Omsk, top 10 public companies by proved risk management development programmes For more details, see Orenburg and Tomsk Oblasts, hydrocarbon reserves, and a leader the Krasnoyarsk Krai, the Nenets in terms of reserves replacement billion Environmental protection Wellbeing of local communities pp. 196-212 Autonomous Okrug; on the Russian under the PRMS classification2. – Environmental management – The 'Home Towns' social Arctic Shelf and offshore system investment programme / 1 / Hereinafter referred to as 'the company'or in the Sea of Okhotsk, as well ₽795.1 – Biodiversity conservation – Supporting the ethnic minorities 'Gazprom Neft'. as in Iraq and Serbia. The company’s programme of the Russian Far North / 2 / Petroleum Resources Management System. main refining facilities adjusted EBITDA – Greenhouse gas emissions – Import substitution and local / 3 / Zero harm to people, the environment, accounting and monitoring preference programmes or property in our operations. 4 ANNUAL REPORT 2019 01 THE COMPANY TODAY 5 GAZPROM NEFT Company profile a Strategic report e S Performance n a Technological development ri Governance system e b GEOGRAPHICALSustainable development FOOTPRINT i S Appendices t 21. s Ea 18. Gazprom Neft Baren ts S 17. ea on the world 9. k f ts Pe o o cho h ra a k Se e O a S 19. map Belgium 20. Russia St Petersburg Estonia 5. 15. Latvia 16. 3. 14. Belarus 11. 1. Moscow 2. 13. 6. 12. Serbia 4. 7. Romania 10. Italy Bosnia and Herzegovina 8. Gazprom The geographic range Bulgaria of the company’s presence Kazakhstan includes1 countries Neft worldwide 110 Kyrgyzstan in Russia Iraq Tajikistan Head office St Petersburg 1. Moscow 12. Tomsk Oblast 2. Irkutsk Oblast 13. Tyumen Oblast Subsoil rights 3. Krasnoyarsk Krai 14. Khanty-Mansi Autonomous Okrug - Yugra Hydrocarbon production Upstream assets in Production facilities in Products sold in Refining 4. Moscow Oblast 15. Yamalo-Nenets Autonomous Okrug16. Oils and lubricants (production) 5. Nenets Autonomous Okrug 16. Yaroslavl Oblast Bitumen products (production) countries countries countries 6 6 >100 6. Nizhny Novgorod Okrug 17. Barents Sea Petrochemicals 7. Omsk Oblast 18. East Siberian Sea Bunkering business Filling stations 8. Orenburg Oblast 19.
Load more

Recommended publications
  • Russia's Oil&Gas Development and Exports Trends Oil Industry Gas
    Eleventh Japan–Russia Energy and Environment Dialogue in Niigata R1-GROMOV Russia’s Oil&Gas Development and Exports Trends Alexey GROMOV, PhD, Principal Director on Energy Studies Institute for Energy and Finance The Eleventh Japan-Russia Energy and Environment Dialogue (JREED) Niigata, Japan 30th January 2019 1 Oil Industry Global oil market context Russian oil production and export trends up to 2023 2 Gas Industry EU Gas market trends Russian gas production and export trends up to 2023 1 ©ERINA Eleventh Japan–Russia Energy and Environment Dialogue in Niigata R1-GROMOV OPEC+ Agreement has a crucial role to stabilize the global oil market 90 $/bbl Brent WTI 80 70 60 OPEC+ Agreement Update 50 (June 2018) OPEC+ Agreement 40 Update (December 2018) OPEC+ OECD commercial Agreement stocks reduction 30 Decrease (December during 2015 2016) 20 01/15 03/15 05/15 07/15 09/15 11/15 01/16 03/16 05/16 07/16 09/16 11/16 01/17 03/17 05/17 07/17 09/17 11/17 01/18 03/18 05/18 07/18 09/18 11/18 • OPEC+ Agreement (December 2016) to cut collective oil production of 1,8 MMb/d supported global oil prices and reduced price volatility in 1Q2017- 1Q2018. • The threat of US sanctions against Iranian oil exports led to OPEC+ Agreement Update in June 2018 (increase collective oil production of 1 MMb/d). • New OPEC+ Agreement Update (December 2018) to cut collective oil production of 1,2 MMb/d has to reduce the oil market volatility in 2019 2 OPEC+ Agreement Update in December 2018 lead to gradually balancing the global oil market in 2019 Changes in global liquid fuels market balance Mbd 2.0 1.6 1.2 -0,4 -0,4 0.8 -0,8 0,75 0.4 0,7 +0,2 +0,2 +0,4 0,4 0,35 +0,4 -0,1 0,1 0.0 -0,2 +0,3 +1,2 -0,1 +0,3 -0,5 +0,3 -0.4 +0,2 -0,0 +0,2 Доп.
    [Show full text]
  • Negativliste. Fossil Energi
    Bilag 6. Negativliste. Fossil energi Maj 2017 Læsevejledning til negativlisten: Moderselskab / øverste ejer vises med fed skrift til venstre. Med almindelig tekst, indrykket, er de underliggende selskaber, der udsteder aktier og erhvervsobligationer. Det er de underliggende, udstedende selskaber, der er omfattet af negativlisten. Rækkeetiketter Acergy SA SUBSEA 7 Inc Subsea 7 SA Adani Enterprises Ltd Adani Enterprises Ltd Adani Power Ltd Adani Power Ltd Adaro Energy Tbk PT Adaro Energy Tbk PT Adaro Indonesia PT Alam Tri Abadi PT Advantage Oil & Gas Ltd Advantage Oil & Gas Ltd Africa Oil Corp Africa Oil Corp Alpha Natural Resources Inc Alex Energy Inc Alliance Coal Corp Alpha Appalachia Holdings Inc Alpha Appalachia Services Inc Alpha Natural Resource Inc/Old Alpha Natural Resources Inc Alpha Natural Resources LLC Alpha Natural Resources LLC / Alpha Natural Resources Capital Corp Alpha NR Holding Inc Aracoma Coal Co Inc AT Massey Coal Co Inc Bandmill Coal Corp Bandytown Coal Co Belfry Coal Corp Belle Coal Co Inc Ben Creek Coal Co Big Bear Mining Co Big Laurel Mining Corp Black King Mine Development Co Black Mountain Resources LLC Bluff Spur Coal Corp Boone Energy Co Bull Mountain Mining Corp Central Penn Energy Co Inc Central West Virginia Energy Co Clear Fork Coal Co CoalSolv LLC Cobra Natural Resources LLC Crystal Fuels Co Cumberland Resources Corp Dehue Coal Co Delbarton Mining Co Douglas Pocahontas Coal Corp Duchess Coal Co Duncan Fork Coal Co Eagle Energy Inc/US Elk Run Coal Co Inc Exeter Coal Corp Foglesong Energy Co Foundation Coal
    [Show full text]
  • Morning Headlines
    MORNING HEADLINES RUSSIAN CAPITAL MARKETS FRIDAY, MARCH 05, 2004 Sales/TradingLondon (+44 020) 7439 6881 Moscow (+7 095) 995 2400 MARKET NEWS COMMENT Surgutneftegas minori Market: Continue to see support in Gazprom, LUKoil and the cells. PM ties attempt to cancel ratified today.RTS closed Thursday at 669.26 up 0.3% or 1.99 points from the previous close. Trading volume Thursday fell to U.S. $45.5 million from U.S. $54.2 million Wednesday. The MICEX closed Thursday at Sibneft charged with 582.11, up 0.1% from the previous close. Trading volume on the MICEX $420 mn more in back was down to $582.1 million from $660.0 million on Wednesday. taxes LUKoil JV to tap Saudi natural gas field EVENTS Russia’s cellular sub TO WATCH Mar 11 Golden Telecom 2003 US GAAP results scriber base up 5% in Mar 14 Russia's presidential election scheduled February to 39.9 million Mar 20 SurgutNG AGM Mar 26 Results of March 14 presidential elections to be an URSI: new licenses for nounced Mar 28 Sibneft EGM and 2003 GAAP results Ekaterinburg, Sverd Yukos 2003 operating results Apr 1 Russia’s oil export duty set at $35.2 per tonne lovsk region; plans con Apr 6 Sibneft’s EMG expected to be held solidation Apr 15 NW Tel to consider merger with Lensvyaz and Komi's Svyaz RUSSIAN ADRs, LONDON INDICATORS Changes Changes Price Vol 1 day 1 mo YTD Value 1 day 1 mo YTD $ $ mn % % % $ % % % Gazprom 34.2 28.2 3.0 14.8 31.9 Urals, bbl 30.7 0.7 15.1 6.5 Lukoil 116.1 79.1 1.7 15.0 24.7 Nickel, t 13150.0 5.6 12.3 20.6 Surgut 31.7 6.2 1.6 12.2 7.8 Eurobond Rus10 112.5 0.1 5.8 7.3
    [Show full text]
  • Climate and Energy Benchmark in Oil and Gas
    Climate and Energy Benchmark in Oil and Gas Total score ACT rating Ranking out of 100 performance, narrative and trend 1 Neste 57.4 / 100 8.1 / 20 B 2 Engie 56.9 / 100 7.9 / 20 B 3 Naturgy Energy 44.8 / 100 6.8 / 20 C 4 Eni 43.6 / 100 7.3 / 20 C 5 bp 42.9 / 100 6.0 / 20 C 6 Total 40.7 / 100 6.1 / 20 C 7 Repsol 38.1 / 100 5.0 / 20 C 8 Equinor 37.9 / 100 4.9 / 20 C 9 Galp Energia 36.4 / 100 4.3 / 20 C 10 Royal Dutch Shell 34.3 / 100 3.4 / 20 C 11 ENEOS Holdings 32.4 / 100 2.6 / 20 C 12 Origin Energy 29.3 / 100 7.3 / 20 D 13 Marathon Petroleum Corporation 24.8 / 100 4.4 / 20 D 14 BHP Group 22.1 / 100 4.3 / 20 D 15 Hellenic Petroleum 20.7 / 100 3.7 / 20 D 15 OMV 20.7 / 100 3.7 / 20 D Total score ACT rating Ranking out of 100 performance, narrative and trend 17 MOL Magyar Olajes Gazipari Nyrt 20.2 / 100 2.5 / 20 D 18 Ampol Limited 18.8 / 100 0.9 / 20 D 19 SK Innovation 18.6 / 100 2.8 / 20 D 19 YPF 18.6 / 100 2.8 / 20 D 21 Compania Espanola de Petroleos SAU (CEPSA) 17.9 / 100 2.5 / 20 D 22 CPC Corporation, Taiwan 17.6 / 100 2.4 / 20 D 23 Ecopetrol 17.4 / 100 2.3 / 20 D 24 Formosa Petrochemical Corp 17.1 / 100 2.2 / 20 D 24 Cosmo Energy Holdings 17.1 / 100 2.2 / 20 D 26 California Resources Corporation 16.9 / 100 2.1 / 20 D 26 Polski Koncern Naftowy Orlen (PKN Orlen) 16.9 / 100 2.1 / 20 D 28 Reliance Industries 16.7 / 100 1.0 / 20 D 29 Bharat Petroleum Corporation 16.0 / 100 1.7 / 20 D 30 Santos 15.7 / 100 1.6 / 20 D 30 Inpex 15.7 / 100 1.6 / 20 D 32 Saras 15.2 / 100 1.4 / 20 D 33 Qatar Petroleum 14.5 / 100 1.1 / 20 D 34 Varo Energy 12.4 / 100
    [Show full text]
  • Evolution in the Russian Gas Market – the Competition for Customers
    Evolution in the Russian Gas Market – The Competition for Customers James Henderson NG 73 January 2013 The contents of this paper are the author’s sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies, of any of the Institute’s members, and/or of the author’s other affiliations. Copyright © 2013 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978-1-907555-66-4 ii Abbreviations and Units of Measurement bbls Barrels bcm Billion cubic metres bcma Billion cubic metres per annum bn bbls Billion barrels boepd Barrels of oil equivalent per day bpd Barrels per day E&P Exploration and Production ESPO East Siberia – Pacific Ocean (Pipeline) FSU Former Soviet Union IOC International Oil Company kboepd Thousands of barrels of oil equivalent per day kbpd Thousands of barrels per day km Kilometres mm bbls Million barrels mcm Thousands of cubic metres mmboepd Millions of barrels of oil equivalent per day] mmbpd Millions of barrels per day mmbtu Million British thermal units mmcm Millions of cubic metres mmt Millions of tonnes mmtpa Millions of tonnes per annum Mm tonnes Millions of tonnes P&P Proved and Probable tcm
    [Show full text]
  • US Sanctions on Russia
    U.S. Sanctions on Russia Updated January 17, 2020 Congressional Research Service https://crsreports.congress.gov R45415 SUMMARY R45415 U.S. Sanctions on Russia January 17, 2020 Sanctions are a central element of U.S. policy to counter and deter malign Russian behavior. The United States has imposed sanctions on Russia mainly in response to Russia’s 2014 invasion of Cory Welt, Coordinator Ukraine, to reverse and deter further Russian aggression in Ukraine, and to deter Russian Specialist in European aggression against other countries. The United States also has imposed sanctions on Russia in Affairs response to (and to deter) election interference and other malicious cyber-enabled activities, human rights abuses, the use of a chemical weapon, weapons proliferation, illicit trade with North Korea, and support to Syria and Venezuela. Most Members of Congress support a robust Kristin Archick Specialist in European use of sanctions amid concerns about Russia’s international behavior and geostrategic intentions. Affairs Sanctions related to Russia’s invasion of Ukraine are based mainly on four executive orders (EOs) that President Obama issued in 2014. That year, Congress also passed and President Rebecca M. Nelson Obama signed into law two acts establishing sanctions in response to Russia’s invasion of Specialist in International Ukraine: the Support for the Sovereignty, Integrity, Democracy, and Economic Stability of Trade and Finance Ukraine Act of 2014 (SSIDES; P.L. 113-95/H.R. 4152) and the Ukraine Freedom Support Act of 2014 (UFSA; P.L. 113-272/H.R. 5859). Dianne E. Rennack Specialist in Foreign Policy In 2017, Congress passed and President Trump signed into law the Countering Russian Influence Legislation in Europe and Eurasia Act of 2017 (CRIEEA; P.L.
    [Show full text]
  • Joint Stewardship of the Barents Sea: Russian and Norwegian Policy Expectations for Preventing Offshore Oil Spills
    Joint stewardship of the Barents Sea: Russian and Norwegian policy expectations for preventing offshore oil spills Item Type Thesis Authors Bouffard, Troy J. Download date 04/10/2021 20:10:16 Link to Item http://hdl.handle.net/11122/6818 JOINT STEWARDSHIP OF THE BARENTS SEA: RUSSIAN AND NORWEGIAN POLICY EXPECTATIONS FOR PREVENTING OFFSHORE OIL SPILLS By Troy J. Bouffard, B.A. A Thesis Submitted in Partial Fulfillment of the Requirements for the Degree of Master of Arts in Arctic and Northern Studies © Troy J. Bouffard APPROVED: Brandon M. Boylan, Committee Chair Mary F. Ehrlander, Committee Member Brian Kassof, Committee Member Mary F. Ehrlander, Director Arctic and Northern Studies Program Todd Sherman, Dean of the College of Liberal Arts Michael A. Castellini, Interim Dean Graduate School Abstract As Arctic environmental conditions fluctuate, ongoing economic-related agreements established for the Barents Region continue to support and attract Norwegian and Russian oil- producing expeditions within the shared maritime zone. Increased industrial activity throughout the Circumpolar North heightens the need to understand the factors that influence policies responsible for protecting the environment - in particular, preventive measures. Agency theory provides the framework for an analysis of various dynamics that influence the Norwegian and Russian governments (principals) as they develop and enforce rules that regulate petroleum industries (agents). The research question asks about differences between the prevention policies of the two nations even though both acknowledge a very similar need to protect the Barents. Since the regulatory and governance structures cannot fully explain the differences between the two countries’ prevention policies, the hypothesis presents an argument that the strategic goals of Norway and Russia in the global political economy provide sufficient conditions for policy divergence.
    [Show full text]
  • 2020 Annual Report
    Online Annual Report Gazprom Neft Performance review Sustainable 2020 at a glance 62 Resource base and production development CONTENTS 81 Refining and manufacturing 4 Geographical footprint 94 Sales of oil and petroleum products 230 Sustainable development 6 Gazprom Neft at a glance 114 Financial performance 234 Health, safety and environment (HSE) 8 Gazprom Neft’s investment case 241 Environmental safety 10 2020 highlights 250 HR Management 12 Letter from the Chairman of the Board of Directors 254 Social policy Technological Strategic report development Appendices 264 Consolidated financial statements as at and for the year ended 31 December 2020, with the 16 Letter from the Chairman of the Management Board 122 Innovation management independent auditor’s report About the Report 18 Market overview 131 2020 highlights and key projects 355 Company history This Report by Public Joint Stock Company Gazprom Neft (“Gazprom 28 2020 challenges 135 Import substitution 367 Structure of the Gazprom Neft Group Neft PJSC”, the “company”) for 2020 includes the results of operational activities of Gazprom Neft PJSC and its subsidiaries, 34 2030 Strategy 370 Information on energy consumption at Gazprom collectively referred to as the Gazprom Neft Group (the “Group”). 38 Business model Neft Gazprom Neft PJSC is the parent company of the Group and provides consolidated information on the operational and financial 42 Company transformation 371 Excerpts from management’s discussion and performance of the Group’s key assets for this Annual Report. The analysis of financial condition and results of list of subsidiaries covered in this Report and Gazprom Neft PJSC’s 44 Digital transformation operations interest in their capital are disclosed in notes to the consolidated Governance system IFRS financial statements for 2020.
    [Show full text]
  • Preliminary Calculation of the EROI for the Production of Crude Oil and Light Oil Products in Russia
    Sustainability 2014, 6, 5801-5819; doi:10.3390/su6095801 OPEN ACCESS sustainability ISSN 2071-1050 www.mdpi.com/journal/sustainability Article Preliminary Calculation of the EROI for the Production of Crude Oil and Light Oil Products in Russia Alexander Safronov and Anton Sokolov * Laboratory of Geology of Oil and Gas Fields, Institute of Oil and Gas Problems SB RAS, Oktyabrskaya 1, Yakutsk 677980, Russia; E-Mail: [email protected] * Author to whom correspondence should be addressed; E-Mail: [email protected]; Tel.: +7-4112-390-620. Received: 14 May 2014; in revised form: 25 July 2014 / Accepted: 25 August 2014 / Published: 1 September 2014 Abstract: Russia is one of the world’s largest producers of energy resources. The production of energy resources in Russia is profitable both economically and in terms of energy production. Currently, Russian oil and gas companies have a policy of increasing energy efficiency, which will led to an increase in the energy return on investment (EROI) of both oil and gas production as a whole, and of separate companies in particular. By our calculations, the EROI for oil production in Russia differs for the different companies, and in 2012 was in the range of 22–35:1. The EROI for light oil products in 2012 was in the range of 5–13:1. Keywords: EROI; oil production; Russia 1. Introduction Over the last 110 years, the annual consumption of energy resources in the world has increased 20 times from 0.6 in 1900 to 12.4 billion tons of oil equivalent (toe) in 2012 [1,2].
    [Show full text]
  • Key Determinants for the Future of Russian Oil Production and Exports
    April 2015 Key Determinants for the Future of Russian Oil Production and Exports OIES PAPER: WPM 58 James Henderson* The contents of this paper are the authors’ sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies or any of its members. Copyright © 2015 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978-1-78467-027-6 *James Henderson is Senior Research Fellow at the Oxford Institute for Energy Studies. i April 2015 – Key Determinants for the Future of Russian Oil Production and Exports Acknowledgements I would like to thank my colleagues at the OIES for their help with this research and to those who also assisted by reviewing this paper. In particular I am very grateful for the support and comments provided by Bassam Fattouh, whose contribution was vital to the completion of my analysis. I would also like to thank my editor, Matthew Holland, for his detailed corrections and useful comments. Thanks also to the many industry executives, consultants, and analysts with whom I have discussed this topic, but as always the results of the analysis and any errors remain entirely my responsibility. ii April 2015
    [Show full text]
  • Conference Preview Register Today for In-Person Or Virtual Attendance
    Held under the patronage of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum Crown Prince of Dubai, United Arab Emirates Host Organisation SPE Annual Technical Conference and Exhibition (ATCE) The New Oil and Gas Journey: Agility, Innovation, and Value Creation Dubai World Trade Centre 21–23 September 2021 United Arab Emirates www.atce.org Conference Preview Register today for in-person or virtual attendance Destination Partner Official Airline About ATCE 2021 2 Committees 3 Conference General Chair Ali Al Jarwan Ali Al Jarwan Dragon Oil ATCE Conference General Chair CEO Dragon Oil Executive Advisory Committee Chair Executive Advisory Committee Vice Chair Shauna Noonan Tom Blasingame 2020 SPE President 2021 SPE President Texas A&M University The most vibrant, novel, and futuristic city of Occidental Petroleum the world, Dubai, is once again proudly hosting the SPE Annual Technical Conference and Exhibition Programme Committee Chair Programme Committee Vice Chair Fareed Abdulla AlHashmi Andrei Popa (ATCE), a place where progressive thinking turns Dragon Oil Chevron into unique and innovative technologies benefitting both regional and global companies, who are Executive Advisory Committee determined to continue serving humanity with net-zero impact on our precious environment. Sharif Abadir Khalid bin Hadi Leonardo Stefani ATCE in Dubai is positioned to attract the best in TAQA Siemens Energy Eni the oil and gas industry so don’t miss this unique Ibrahim Al Alawi Thomas Burke Phongsthorn Thavisin opportunity where you will be able to witness, AlMansoori Specialized Valaris PTT Exploration and Production discuss, and benefit from this world-class event and Engineering Toshikazu Ebato Public Company Limited (PTTEP) at the same time visit the EXPO 2020 with plenty of Abdulaziz O.
    [Show full text]
  • NIS Leaflet (April 2011) Environnis - Complex Ecological Examination of Naftna Industrija Srbije (NIS) Production Facilities
    EnvironNIS Leaflet (April 2011) EnvironNIS - Complex ecological examination of Naftna industrija Srbije (NIS) production facilities Objectives and scope • site investigations – groundwater, soil, hazardous The project EnvironNIS was conducted by Steinbeis waste storage area, air status, waste water Advanced Risk Technologies (www.risk-technologies.com) • evaluation of the actual environmental status for and D’Appolonia S.p.A (www.dappolonia.it), both members each facility. of EU-VRi (www.eu-vri.eu), based on the Service Agreement Phase 2: Assessment of potential environmental risks with Petroleum Industry of Serbia, NIS (www.nis.rs), resulted • impacts on subsoil and groundwater quality due from the open tender in July 2009. possible accidental releases of chemical substances • possible exceeding of the legislation limits Objectives of the project • possible obligations related to remediation and/or • assessment of environmental status, risks and clean-up needs. management system Phase 3: Assessment of facility environmental management • and development of corrective actions for the system improvement of the environmental status and the reduction of the ongoing environmental risks and • analysis of local and international legislative liabilities. requirements Assessment has included twelve facilities of NIS and their • evaluation of the environmental management potential effects on the environment system. • two oil refineries and one gas refinery Phase 4: Development of instructions for improvement of • two petrol stations environmental status and reduction of risks • two tank farms • two service units Start of the project: July 2010 • two gas/oil dispatch stations End of the project: January 2011 • one storage station for LPG. Deliverables Extremely demanding reporting procedure has resulted with • one intermediate report Dispatch station for selected facilities with proposal of preliminary defined corrective or mitigation actions • 24 final reports Dispatch one report for each of 12 facilities in English and station Serbian language.
    [Show full text]