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Rosneft is a relative
newcomer to the big-time. It acquired Yubganskneftegaz in
somewhat controversial circumstances after the collapse of
the Yukos group brought about by state tax demands and fines.
Rosneft is active in Western and
Eastern Siberia, on Sakhalin, in the Timan-Pechora region, in
Southern Russia, as well as joint ventures with several
foreign firms. Rosneft is in the process of reconstructing its
refining facilities to ensure that they have sufficient
capacity to meet the increasing market demand and
international technological standards.
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Although officially a
private concern, the company is virtually under state control.
It key people are appointed by the government (its chairman
Igor Sechin, was appointed by the President Putin).
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The company will be the new
force in Russian oil in future claiming to have second largest
proven oil reserve (15 billion barrels) .
The company’s capitalisation is estimated at 60 billion USD.
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Its upstream activities span
all oil producing regions of Russian and have downstream
activities in the form of two oil refineries. It has recently
also entered the Chinese market.
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The company has steadily
increased its daily production capacity in the past few years
raising daily production from .05 to 1.5 million barrels per
day within the past two years (due mainly to Yubgansk
takeover) and is aiming to double this figure in the next 10
years.
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In 2005 Rosnet was “matched”
to merge with Gazprom but internal politics got in the way and
the merger was subsequently called off.
ACCOUNTS
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Rosneft's net consolidated profit under the
Russian Accounting Standards (RAS) grew 49.8 percent to
RUR40.8bn (approx. USD1.51bn) in the first quarter of 2006
compared to the same period in 2005, according to preliminary
data reported by the company's press service. Rosneft's
consolidated pre-tax profit rose 52.2 percent to RUR53.6bn
(approx. USD1.99bn).
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The latest accounts were
published on May 23. They can be found here
http://www.rosneft.com/english/download/GAAP2006_eng.pdf
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Summary of the published figures are summarised
below:
Financial review
|
$million |
2005 |
2004 |
|
Revenue |
23 951 |
5 275 |
|
EBITDA |
7 030 |
1 521 |
|
Net income |
4 159 |
837 |
|
|
|
|
|
EBITDA margin |
29,4% |
28,8% |
|
Net income margin |
17,5% |
15,9% |
|
Return on average capital employed (ROACE) |
21,7% |
7,5% |
|
Return on average equity (ROAE) |
47,7% |
19,6% |
|
Profile
(Hoover)
http://www.hoovers.com/rosneft/--ID__55399--/free-co-factsheet.xhtml?cm_ven=Biz_Dev&cm_cat=Google&cm_pla=Free&cm_ite=Factsheet
Rosneft Key People
Rosneft CEO Sergei Bogdanchikov
Rosbeft Acting VP
Anatoly I. Baranovsky
Rosneft Chairman: Igor Sechin
Web site
http://www.rosneft.com/english/upstream/index.html
|
Postal ddress
26/1, Sofiyskaya embankment, 1, GSP-8 115998, Moscow, Russia
Fax:
+7 (495) 777-44-44
Telex:
114405 DISVO.RU
Contact phone:
+7 (495) 777-44-22
E-mail:
postman@rosneft.ru |
ABOUT US |
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