New Projects in RussNeft Production Activities
Implementation of 600 new projects into PJSC “RussNeft” production costs optimization program allowed the Company to save significant funds. The activities brought actual economic effect of RUB 1.8 bn to the corporate budget, according to the press office of the oil company.
Specifically, starting from 2023, the Scientific and Technical Board of PJSC “RussNeft” has reviewed and recommended the implementation of over 100 new projects in various areas of the Company's production activities.
Among them are new projects in construction of wells and wells overhaul, energy efficiency and production technologies, oil and gas treatment and transportation, as well as new projects in allocation of production costs.
Apart from that, the press office informs that the corporate program for optimizing production costs has been in place here for more than 7 years. The Company pays great attention to ecological safety and HSE, the management actively integrates lean production elements into its corporate culture.
Corporate optimization program has become another important project. It allows engaging every employee in optimization of production processes and costs, the press-release says.
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PJSC “RussNeft” continues to work with institutions of higher educations and colleges to attract promising young graduates to the company, as was reported by its press service.
INTERFAX: RUSSNEFT INCREASED ITS RAS NET PROFIT BY A THIRD IN 2024
In 2024, PJSC “RussNeft” made a net profit of 42.25 billion rubles according to RAS, which is 32.9% more than the result of the previous year (31.785 billion rubles), the company's report says.
The company’s revenue increased by 26.4% to 301.83 billion rubles. The cost of sales increased by 28.2%, to 228.7 billion rubles.
The revenue from oil sales in the domestic market increased by 14.8%, amounting to 184.89 billion rubles; the revenue from exports abroad increased by more than a half, to 110.42 billion rubles.
The company's accounts payable increased by 1.5% over the year, to 125.73 billion rubles. The debt structure of the issuer is dominated by the debt on loans nominated in foreign currencies - 89.69 billion rubles.
Thus, the debt on the main loan, taken out back in 2015, decreased to $667.5 million. In 2024, the company paid $205.77 million under the corresponding agreement, including $126.34 million paid ahead of schedule. The explanatory note to the financial statements emphasizes that last year saw a downward trend in the SOFR overnight rate used to calculate accruals under that loan agreement: from 5.4% on January 2, 2024 to 4.49% at the end of the year.
At the same time, the issuer attracted another large loan last year - for 1.58 billion yuan (about 21.35 billion rubles) with repayment in rubles at the Moscow Exchange's settlement rate multiplied by a factor of 1.01.
As previously reported, by the end of 2024, RussNeft reduced its oil production by 5.3% to 6.092 million tons given the obligations in the Russian Federation under the OPEC+ deal. The reserves addition amounted to over 10 million tons with a replenishment ratio of 171%.
FC Neftyanik won the All-Russian football tournament "Breakthrough -2024"
The Neftyanik Football Club, created with the participation of PJSC “RussNeft”, once again successfully performed at the Children's All-Russian Football tournament. The Breakthrough 2024 competition was held in Adler, Krasnodar region.