Gazprom Neft investment case

The goal of the Gazprom Neft Strategy to 2030

To strengthen our market position and become a benchmark for global industry peers in terms of efficiency, safety and technological advancement.

  • Managing the value chain as a single asset 
  • An agile investment decision-making framework 
  • Highly efficient refining achieved through a refinery modernisation programme 
  • Extensive resource base 
  • An operational efficiency and HSE system covering all areas of the company’s business 
  • Growth in dividend payments
  • Digitising the entire production chain to improve performance 
  • Organisational, operational, cultural and digital transformations across the company
  • Target Zero – zero harm to people, the environment, or property in our operations 
  • Following the best available environmental practices

Investment grade credit ratings

ACRA
AAA(RU)
Stable outlook
Moody’s
Baa2
Stable outlook
Fitch
BBB
Stable outlook
S&P
BBB–
Stable outlook

The company’s standing in the industry

No.1

24.3% adjusted EBITDA margin

6.2% ROACEReturn on average capital employed.

16.97 tonnes per day – average daily retail sales

No.2

₽323.2 EBIT per barrel of oil produced

₽4,128.3 lifting cost per barrel of oil produced

No.3

96.1 mtoe hydrocarbon production

60.5 mt of oil and oil condensate production

Thanks to our balanced approach to asset management, we have delivered three consecutive quarters of net profit growth, giving us a stable financial position to justify the payment of an interim dividend.

Production profile, mtoe

Exploration and production: projects with a relatively high share of gas in our portfolio allowed us to balance our production profile to ensure OPEC+ compliance.

Refining: with the Gazprom Neft refinery modernisation programme in its final stages, the company is well-positioned to be a key beneficiary of refining margin recovery.

Net profit, ₽ billion
Share of adjusted IFRS net profit, %

The new dividend policy sets a target payout ratio of at least 50% of adjusted IFRS net profit.

Operational strengths

  • The investment programme responds flexibly to changes in the market
  • Lifting costs per barrel were optimised despite the macroeconomic headwinds
  • The company retains the potential to increase current production

Creating sustainable value for shareholders

  • Driven by our commitment to increased openness and transparency, we joined the UN Global Compact and obtained the highest climate score from the CDP (Carbon Disclosure Project) initiative
  • The company has achieved a 9.7% reduction in Scope 1 and Scope 2 GHG emissions
  • Gazprom Neft is seeking to minimise its environmental footprint, considering alternative energy sources to support own assets, and is performing environmental emergency-response drills in the Arctic
  • Zero fatal accident rate (FAR) has been achieved