Page 110 - RusRPTDec23

9.2 Major corporate news 9.2.1 Oil & gas corporate news
● Gazprom
The net profit of Russian gas giant Gazprom plunged by 44.2% on the year to 446.103bn rubles in January–September, as calculated under Russian Accounting Standards (RAS), the company said in a report late on November 7. Revenue shrank by 36.3% to 3.96 trillion rubles, with revenue from natural gas sales plummeting by almost 50% to 2.354 trillion rubles. Cost of sales remained almost flat at 3.035 trillion rubles, and sales loss stood at 107.23bn rubles in the period against a 2.037 trillion ruble sales profit in January–September 2022.
Russian gas giant Gazprom plans its investment program at 1.574 trillion rubles in 2024, the company said on its Telegram channel on November 23. Gazprom listed development of gas hubs on the Yamal peninsula, the East of Russia, of the Sila Sibiri gas pipeline, of a gas refinery, of gas distribution in the regions and projects ensuring a peak balance of gas among the priorities.
Russian natural gas giant Gazprom will cut its 2024 investment programme by 20% year on year to RUB1.57 trillion ($18bn), the company announced. Gazprom had previously cut its 2023 investment programme to RUB2 trillion. The 2024 investment programme provides funds to finance the development of gas production centres in the Yamal Peninsula and Eastern Russia, the Power of Siberia gas trunkline, Gazprom's gas processing complex, as well as the gasification of Russian regions, Renaissance Capital wrote on November 24.
● Rosneft ● Novatek ● Lukoil
The Bulgarian parliament has approved prohibition of imports and refining of Russian oil by Lukoil at its refinery in the city of Burgas from March 1, newswire BTA reported on November 17. The export quotas will be abolished on January 1, while refining of Russian oil will be forbidden from the start of March. The EU leaders agreed in 2022 to slap a partial oil embargo on Russia, while allowing Bulgaria to refine Russian oil imported by sea until 2025.
110 RUSSIA Country Report December 2023 www.intellinews.com