Page 161 - RusRPTJul24

Production of liquid hydrocarbons in 1Q24 decreased by 3.5% to 47.1mn tonnes, oil refining volume decreased by 12% y/y to 19.9mn tonnes. According to the company, the decrease in refining volume is due to the need to carry out repair work at the refinery due to force majeure circumstances. The company's results were higher than our expectations and higher than the Interfax consensus forecast. In 1Q24, Rosneft earned 18.8 rubles per share. dividend, which corresponds to a 3.6% dividend yield. The company pays dividends 2 times a year, the dividend payout ratio is 50% of the annual net profit under IFRS.
Commodities trader Trafigura Group has hired Russian oil giant Rosneft's former top executive, Otabek Karimov, The Wall Street Journal reported on Monday. Karimov was vice president for commerce and logistics at state-supported Rosneft Oil, before leaving that position when the European Union imposed sanctions on the Russian energy producer in May 2022, the report added. Karimov is from Uzbekistan, and his focus will be on metals, a source close to the company told Reuters. It was unclear what his official role would be, according to the WSJ.
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The German Uniper announced its decision to terminate its long-term contracts for the supply of Russian gas on June 12. This means the termination of gas supply contracts with Russia's Gazprom Export, the company said in a statement. “This decision was made possible after the arbitration court [in Stockholm] on June 7 granted Uniper the right to terminate contracts and awarded it compensation of more than 13bn euros for volumes of gas that Gazprom Export has not supplied since mid-2022,” – said Uniper.
May 30) Transneft disclosed financial results under IFRS for 1Q24.
Revenue increased by 17% y/y to 369 billion rubles, EBITDA increased by 7% y/y to 160 billion rubles, net profit increased by 4% and amounted to 92 billion rubles. The company's results were higher than our expectations and higher than the Interfax consensus forecast.
May 30 Bashneft disclosed financial results under IFRS for 1Q24. Results for 1Q23 were not disclosed. Revenue decreased by 8% QoQ to RUB 280bn, EBITDA increased by 13% QoQ to RUB 51bn, net profit increased by 20% to RUB 32bn. The company's results were within our expectations. In 1Q24, Bashneft earned 44.6 rubles per share. dividend, which corresponds to a 1.4% yield per ordinary share and a 2.3% yield per preferred share. The company pays dividends once a year, the dividend payout ratio is 25% of annual net profit under IFRS.
161 RUSSIA Country Report July 2024 www.intellinews.com