Press Service

The press service of the oil company reported the results of the production costs optimization program launched more than eight years ago. During this period, over 650 projects have been implemented. According to internal estimates, the total economic effect exceeded 2 billion rubles.

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.

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%.