Page 224 - RusRPTAug24

abandoning its work with Russia due to American sanctions.
● Lukoil
Lukoil is increasing its oil exports by sea due to the ceasing of transit through Ukrainian territory, and Hungary accuses Ukraine of blackmail. The largest Russian private oil company, Lukoil, has increased oil exports through the country's seaports, as supplies through the Druzhba pipeline to Slovakia and Hungary are currently suspended due to Ukrainian sanctions against Lukoil. As a result, Lukoil added another 340,000 tonnes of Urals oil to its July shipment plan through seaports. At the same time, Rosneft and Gazpromneft added 200,000 tonnes and 100,000 tonnes to their July plans. Russian crude shipments from western ports in July were revised up by about 0.23mn barrels per day, compared with an initial estimate of about 1.79mn barrels per day, according to Reuters estimates. Also, the Hungarian government has accused Ukraine of blackmailing Hungary and Slovakia by blocking the supply of Russian oil and state that if the situation does not change, a fuel shortage is possible.
● Other
Shareholder of Transneft (the Russian Federation represented by the Federal Agency for State Property Management) has approved the payment of dividends for 2023 in the amount of 177.2 rubles per ordinary and preferred share, the company reported on July 9.
All in all, 128.458bn rubles ($1.4bn) will be allocated for dividend payout, including 100.9bn rubles on ordinary shares and 27.55bn rubles on preferred shares. A decree by the Russian government suggested a respective volume of payments, the cabinet reported earlier.
Transneft completed a share split in February, after which one share was converted into 100 shares of the same category. Now the number of the company’s ordinary shares stands at around 569.45mn, while the number of preferred shares equals around 155.49mn.
In 2022, dividends of Transneft amounted to 16,665 rubles on each ordinary and preferred share, totaling around 120.81bn rubles. In 2021, Transneft paid dividends in the amount of 10,497 rubles on ordinary and preferred shares (76.1bn rubles in total).
Net profit of Transneft under International Financial Reporting Standards (IFRS) attributable to shareholders increased by 22% in 2023 compared with the previous year to record 296.51bn rubles ($3.2bn). The company’s net profit rose by 21% in the reporting period to another record level of 306.6bn rubles ($3.3bn) compared with 253.96bn rubles in the previous year. Revenue grew by 10.5% last year to 1.331 trillion rubles ($14.3bn), which is also a record for
224 RUSSIA Country Report August 2024 www.intellinews.com