• Home
  • News
  • Gazprom Neft’s BoD confirms company’s development strategy to 2030
  • 2018 November 26 17:51

    Gazprom Neft’s BoD confirms company’s development strategy to 2030

    Gazprom Neft’s Board of Directors has reviewed and confirmed the company’s development strategy to 2030. The new document continues current strategy to 2025, which envisages achieving production at 100 million tonnes of oil equivalent (mtoe) per year while, concurrently, maintaining the proved (1P) reserves-to-production ratio of at least 15 years and ensuring a 100-percentreserves replacement every year. The strategy also envisages continued improvements in conversion rate, to a level of 95 percent, and increasing the light product yield to 80 percent through the modernisation of refining assets.

    Gazprom Neft’s new development strategy is expected to see it become a benchmark in efficiency, technological advancement and safety for other market players worldwide. The company’s focus will be on consolidating its position among the top-10 largest public oil and gas companies globally in terms of liquid hydrocarbon production, and on maximising added value with every barrel. The main contribution to production growth over the 2020–2030 period is expected to be from new assets, both pre-existing and those expected to be commissioned in the near future, with the remaining production portfolio expected to comprise unconventional and hard-to-recover reserves — such as the Bazhen Formation, Domanic and Paleozoic deposits — and through the development of offshore projects.

    By 2030, Gazprom Neft expects to become a global market leader in terms of Returns on Average Capital Employed (ROACE), driving this to a level of 15 percent through effective management of the company’s asset and project portfolio. In exploration and production this will be based around efficiency improvements in exploration activities, the development and equipping of production facilities at new fields, and the exploitation of currently productive fields. In its downstream sector, the company plans to secure a two-fold increase in operating profit per tonne at its own refining facilities by optimising its product range following the completion of projects to increase conversion rate, the introduction of innovative new production technologies, and operational improvements.

    Gazprom Neft’s development strategy to 2030 is predicated on optimising opportunities for operational efficiency improvements and growth by developing and implementing cutting-edge technological solutions. The company is committed to exploring the potential of new market niches by developing innovative products, continuing its organic growth in developing markets for oil products, and maintaining its market leadership in terms of the efficiency of its Russian retail network. Gazprom Neft also plans to secure a 70-percent domestic market share in catalysts for key secondary refining processes, as well as becoming the market leader in LNG bunkering in Russia. In terms of developing premium sectors, its objective is to become a top-10 global company in the aviation sector, in lubricant production, and in innovative bitumen products.

    The company is committed to transforming its management system in order to achieve the strategic objectives set. This includes digital transformation, extracting added value from data throughout the entire value chain, from exploration to end-consumer fuel sales. Through this digital transformation Gazprom Neft will become the first oil company in the industry to ensure fully integrated business management and decision making, based on data and digital twins of production facilities. Cultural and organisational transformation at Gazprom Neft will ensure managerial flexibility, as well as facilitating faster decision making. The company also sees the development of a “partnership ecosystem” as one of the most important transformational objectives in implementing its strategy, allowing Gazprom Neft to further improve key competencies by involving partners in jointly developing R&D, human and intellectual potential at all levels of engagement with business, government and society.

    Alexei Miller, Chairman of the Gazprom Neft Board of Directors, stressed: «Gazprom Neft’s long-term strategy outlines the company’s development trajectory beyond 2025, in line with emerging trends driving the future global energy market. Gazprom Neft’s task, in the face of a constantly changing external environment, is to realign the company in a way that will withstand any developing scenario of the oil market and at the same time coordinating its work in line with Gazprom PJSC’s strategic priorities. Gazprom Neft’s goal is to become a benchmark for Russian and international market players in terms of safety, efficiency and technological advancement. I have no doubt that this new development strategy will ensure consistent growth in shareholder value allowing Gazprom Neft to become one of the leaders of the oil industry, worldwide.»

2021 December 1

15:04 Yang Ming adds the latest of its 9th 11,000 TEU ship to the Trans-Pacific service
14:07 SEA-LNG backs Europe’s goal-based, technology-neutral regulation for cleaner shipping
13:50 Liepaja SEZ Board appointed Uldis Hmieļevskis, Deputy CEO, as Acting Manager
13:14 Rolls-Royce extends TBO intervals of mtu Series 4000 engines for commercial marine application
13:03 Oil shipments via CPC Marine Terminal in 11M’21 climbed by 0.7% YoY
12:56 Valenciaport tenders the drafting of the urban development project for areas 2 and 5 of the Special Plan for zone 1 south of the Port of València
12:06 Mostotrest conducted 2,177 operations on raising bridges in Saint-Petersburg over navigation season of 2021
11:45 MABUX: Bunker prices may continue to decline on Dec 1
10:49 Russian Railways' network loading climbed by 3.3% in 11M’2021
10:15 Maersk Customs Services USA highlights trends and opportunities for U.S. importers
09:51 Port of Kiel receives funding for digital test field
09:30 Crude oil prices start rising
09:16 Baltic Dry Index as of November 30

2021 November 30

18:35 ICS urges WTO Director General to prioritise maritime transport in multilateral trade negotiations
18:14 First phase of Tuas Port reclamation works completes
17:53 Finnlines announces bunker surcharge for Malmö-Travemünde-Malmö
17:35 HDB, JTC and MPA, which issue over two-thirds of government invoices, offer e-invoicing through IMDA’s InvoiceNow
17:04 DNV supports world first large-scale testing of submerged CO2 pipelines
16:48 RF Navy’s large anti-submarine ship Vice Admiral Kulakov enters Barents Sea
16:34 Brittany Ferries takes delivery of Salamanca
16:04 Port of Oakland total cargo volume down 20 percent in October 2021
15:50 RF Navy's corvette Gremyashchy and two submarines of Varshavyanka project welcomed in Vladivostok
15:39 Abbey Heimensen appointed to VP of Marketing, MarineMax
15:34 The Port of Barcelona validates its Innovation Plan
15:19 Icebreaker Sibir of Project 22220 completed main part of shipbuilder’s sea trials
15:04 Terminal San Giorgio orders an eco-efficient Konecranes Gottwald ESP.8 Mobile Harbor Crane
14:43 Keppel Offshore & Marine signs global framework agreement with Ørsted on potential future offshore substation projects
14:24 DEME Group Signs Partnership Agreement with CIP for the Development of Energy Island in Danish North Sea
14:03 Volvo Penta to power Hurtigruten Svalbard’s new hybrid vessel
13:42 Rosterminalugol starts building wind and dust protection screens around its coal storage area
13:24 Kongsberg Digital and Aker BP extends collaboration agreement to accelerate data utilization
12:50 Container shipping costs up by 121.2% year-on-year - Xeneta
12:10 Navigation season closed on rivers of Saint-Petersburg
12:04 Ningbo Containerized Freight Index decrease slightly in November
11:48 1.59 million cbm of material dredged within Azov-Don Basin of Russia’s IWW in 2021
10:56 MABUX: Global bunker market turned into upward correction mode on Nov 30 after yesterday’s price collapse
10:42 China ports container volume rises 8.4% from January to October 2021
10:34 Port of Gdańsk awarded by the European Sea Ports Organisation
09:57 Klaipėda is preparing for the development of offshore wind energy in the Baltic Sea
09:30 Crude oil prices continue rising
09:15 Baltic Dry Index as of November 29
08:33 MAN Energy Solutions upgrades four-stroke engines for green future-fuels

2021 November 29

18:19 Gazprom posts RUB 1.59 trillion of operating profit in 9M’2021
17:58 Wärtsilä partners with China Classification Society and Tianjin Port Group
17:17 Construction of ice protection facilities at Utrenny terminal under Arctic LNG 2 project to be completed in 2022
16:54 Wallenius Wilhelmsen names new CEO
16:50 Lloyd’s Register is the world’s first Renewable Energy Certification Body for marine energy
16:19 Handling of socially important cargo to be obligatory prioritized by operators of sea terminals
15:41 Average spot market price for Russian M100 product rose to RUB 26,672 pmt
15:22 13 million cbm of material to be dredged in 2022 as part of Sabetta seaport’s Seaway Canal reconstruction
14:46 Oboronlogistics delivered cargo to Abkhazia
14:13 X-Press Feeders signs for sixteen new 1,170 TEU vessels
13:34 Alexeev’s Hydrofoil Design Bureau launches yet another Valdai 45R hydrofoil for Chuvashia
13:05 COSCO SHIPPING Ports and CSTD sign JV agreement with Tianjin Port Holdings and China Merchants International Terminals
12:57 DNV publishes pioneering new competence standard and recommended practice
12:47 Baltic Workboats AS developed new standard in commissioning of vessels together with Siemens Energy
12:24 MABUX: Bunker prices may sharply decline on Nov 29
12:08 Small missile ship Veliky Ustyug enters Caspian Sea to perform training and combat missions
11:45 Russian Maritime Register of Shipping issues digest of main changes in RS Rules
11:26 UECC takes delivery of the world’s first dual-fuel LNG battery hybrid PCTC