Page 146 - RusRPTApr24

9.2 Major corporate news 9.2.1 Oil & gas corporate news
● Gazprom
The Russian government has approved the sale of 27.5% in Sakhalin Energy, the Sakhalin-2 project operator, to Sakhalin Project company (affiliated with Gazprom) for 94.8bn rubles ($1bn), according to the decree posted on the official web portal of legal information. Sakhalin Project was founded on July 18, 2023 in St. Petersburg and Gazprom Sakhalin Holding is its sole founder, as indicated in the state register.
Gazprom Neft has increased the output of petroleum products at its refineries, CEO Alexander Dyukov told reporters. "Gazprom Neft has scaled up the output of petroleum products at its refineries," the chief executive said, without detailing volumes. It is theoretically possible to build one more refinery closer to Eastern Russia but Gazprom Neft is not considering such an option, Dyukov noted. "We believe capacities in place are sufficient to provide the domestic market with diesel fuel and gasoline supplies," he stressed. Gazprom Neft is considering an opportunity of increasing oil transportation along the Northern Sea Route, CEO of the Russian oil major Alexander Dyukov told reporters. "We are considering such an option; it is early so far to make a more detailed comment," the chief executive said.
● Rosneft
Russneft disclosed its financial results under IFRS for 2023 on March 26. Revenue decreased by 18% y/y to RUB 239bn. EBITDA decreased by 18% y/y and amounted to 41bn rubles. Net profit remained virtually unchanged compared to 2022 and amounted to 20.4bn rubles. Also, Trust Bank sold part of the package of preferred shares of Russneft, bank representatives reported. Trust Bank owns 16.52% of the authorized capital of the oil company in the form of preferred shares. The companies do not disclose details of the deal. In March 2024, Russneft issued a third party guarantee to a Russian bank for its obligation to repurchase preferred shares in the amount of 64,791,173 shares, which is equivalent to the share of Trust Bank. The amount of the guarantee is no more than $172mn (in ruble equivalent 15.8bn rubles at the exchange rate on the date of issue of the guarantee), valid until December 31, 2026, as reported in the appendix to the IFRS reporting of Russneft.
● Other
Russian oil major Tatneft disclosed its financial results under IFRS for 2023 on March 15. Revenue increased by 11.3% y/y to RUB 1.6 trillion
146 RUSSIA Country Report April 2024 www.intellinews.com