home Ideas The final meeting of Gazprom shareholders. The Board of Directors of PJSC Gazprom announces the annual General Meeting of Shareholders

The final meeting of Gazprom shareholders. The Board of Directors of PJSC Gazprom announces the annual General Meeting of Shareholders

MOSCOW, 25 July. /TASS/. The largest oil refinery in Russia, the Omsk Oil Refinery (ONPZ, owned by Gazprom Neft), will increase the refining depth to 97% and the yield of light, high-margin oil products to 80%. This was announced by Anatoly Cherner, Deputy General Director for Logistics, Refining and Sales of Gazprom Neft, whose words are quoted in the company's press release.

Gazprom Neft notes that the Omsk Oil Refinery will be able to reach 97% of the refining depth after the construction of a delayed coking unit (DCU) with a capacity of 2 million tons of raw materials per year is completed in 2020.

"Implementation of the ultrasonic testing project solves several important tasks in the framework of technological development Omsk refinery. We will increase the production of motor fuels and provide the growing market with high-quality petroleum coke. In addition, the energy efficiency of technological processes will be increased and operating costs will be optimized due to the deep processing of oil residues. The construction of the ultrasonic processing unit, along with other projects of the second stage of the refinery’s modernization, will achieve a synergistic effect and bring Gazprom Neft’s Omsk Refinery closer to achieving the world’s best performance: increasing the refining depth to 97% and the light yield to 80%,” said Cherner.

The depth of processing is one of the main indicators of the efficiency of the use of raw materials. In 2016, the depth of oil refining at the Omsk Refinery was 90.6%.

According to the Ministry of Energy of Russia, the average depth of oil refining in the country last year was about 79.2%, the Ministry of Energy expects that this 2017 it will grow by another 1.7% - up to 80.9%.

Modernization of the ONPZ

The modernization program has been implemented at the Omsk Oil Refinery since 2008. The result of the first stage of the program was the complete transition of refineries to the production of gasoline and diesel fuel ecological standard "Euro-5". The total investment of Gazprom Neft in the modernization of the ONPZ will exceed 300 billion rubles.

The project for the construction of a complex for deep oil refining at the Omsk Oil Refinery is part of the second stage of modernization aimed at increasing the depth of oil refining and increasing the yield of light oil products.

The Omsk Oil Refinery is the largest in terms of refining volume and one of the most modern oil refineries in Russia. The enterprise produces about 50 types of oil products. In 2016, the plant increased the production of bitumen products for road construction by 9.9% to 430 thousand tons, gasoline by 6.6% to 4.7 million tons, diesel fuel by 3.2% to 6.5 million tons and aromatic hydrocarbons by 5.6% - up to 430 thousand tons. In total, 20.5 million tons of crude oil were processed last year. The share of light oil products yield was increased to 70.92%.

Russia is currently implementing a program of technical re-equipment of oil refineries. To this end, four-party agreements were signed in 2011 between oil companies, FAS, Rostekhnadzor and Rosstandart. Oil companies have pledged to modernize their refineries to switch to the production of higher quality types of petroleum products and ensure the necessary volumes of their production and supply to the domestic market. Initially, 2015 was set as the deadline for modernization, but then it was postponed to 2020, due, among other things, to a sharp drop in refining margins in Russia.

Created virtually from scratch by the New Stream Group, the Antipinsky Oil Refinery has increased its refining capacity to 9 million tons per year in 10 years, achieved a record refining depth for Russia (98%), completely halting the production of dark oil products, and launched the production of diesel fuel "Euro-5" is now preparing for the production of gasoline of similar quality, which is scheduled for the first half of 2017.

In addition to the Antipinsky Oil Refinery, New Stream controls a number of other assets (Marisky Oil Refinery, Kstovsky Bitumen Plant, oil fields in the Orenburg region with a total reserves of more than 40 million tons, logistics and sales companies, as well as a trading company of the same name registered in Switzerland) with a total annual revenue of about $6 billion and a value, according to the company itself, $2.6 billion.

As Dmitry Mazurov, President of New Stream, noted, the example of the Antipinsky Oil Refinery proves that the creation of an efficient oil refining production in Russia “from scratch” is absolutely realistic. Among the main advantages of the plant, he named the use of advanced technologies that allow to completely avoid the production of intermediate products and the launch of secondary processing processes that provide high value-added products.

Almost at the finish line

First production complex Antipinsky Refinery with a feedstock capacity of up to 400 thousand tons per year was put into commercial operation in 2006 year. Its main facilities were the ELOU-AT-1 primary oil refining unit and a commodity-raw material park for 52,000 cubic meters. m. The depth of processing of raw materials at this stage did not exceed 57%. However, the shareholders set a goal to turn the plant into a full-fledged large oil refining complex. For this, the main thing was available - the huge reserves of oil in the Tyumen region and high demand for high quality fuel. Today we can say that this goal has been achieved.

In 2016, the plant's capacity was already 9 million tons of oil per year, and the refining depth was 98%. The latter indicator was provided by the commissioning of a combined two-section unit for deep processing of fuel oil (UGPM) with a capacity of 4.2 million tons per year at the Antipinsky Oil Refinery.

The first section of the UGPM (fuel oil vacuum processing workshop) is designed to produce vacuum gas oil and tar. The second one (delayed coking unit) processes the tar obtained in the first section, which is a heavy residue technological process obtaining petroleum products. The launch of the UGPM allowed the plant to completely abandon the production of fuel oil and all its derivatives.

The unit was designed by the American Foster Wheeler. At the end of July 2016, conditioned coke was obtained on it. At the same time, the plant began to produce other new products for it - gas oil, naphtha and coking diesel, which are processed at the hydrotreatment unit into Euro-5 commercial diesel fuel. The output of diesel fuel at the plant increased from 33% to 50%.

In September 2016, a unit for the dewaxing of distillates and diesel fractions was launched, which made it possible to master the production of winter types of diesel fuel, including arctic. Shell and Haldor Topsoe technologies were applied at the facility. The unit can operate in hydrotreatment mode. Its productivity in terms of raw materials is 1.01 million tons per year. Thus, the total capacity of diesel fuel hydrotreatment at the Antipinsky Oil Refinery has grown to 4 million tons per year.

With the introduction of the UGPM, the Antipinsky Oil Refinery fulfilled its modernization obligations under the four-party agreement concluded in September 2011 between the plant, the Federal Antimonopoly Service, Federal Service for Environmental, Technological and Nuclear Supervision and the Federal Agency for Technical Regulation and Metrology.

Now another important goal has come to the fore - the launch of the production of Euro-5 gasoline. In the spring of 2017, naphtha isomerization and reforming shops are to be launched at the Antipinsky Oil Refinery, which will make it possible to solve this problem. According to experts, the production of Euro-5 gasoline will bring the plant to 500 million dollars in EBITDA, and the capitalization of the Antipinsky Oil Refinery will reach $2 billion.

In 2018-2019, it is planned to build a vacuum gas oil hydrocracking unit with a capacity of 2.7 million tons per year (the raw material for it will be vacuum gas oil and heavy coking gas oil from the fuel oil deep processing unit) and a second hydrogen production unit.

The result of the completion of all technological stages will be the production of a wide range of high-quality petroleum products. In particular: Euro-5 A-92 and A-95 gasoline, Euro-5 diesel fuel (summer, winter, arctic), petroleum coke and granulated sulfur.

The company estimates the total investment in the refinery project at $3.8 billion. New Stream borrowed money to finance the construction of the third stage and refinance existing loan obligations for domestic market. So in January 2016, a large loan from Sberbank was attracted - $ 1.75 billion for 10 years.
Naturally, the question arises in which direction the Antipinsky Oil Refinery will develop.

As NiK was told in the press service of the New Stream Group of Companies, the capacities in the coming years will remain within the design limits. At the same time, options are being considered for creating a petrochemical business, developing a distribution network (retail and small wholesale) and the oil production sector.

Oil for refineries

In 2010, New Stream announced plans to meet the needs of the Antipinsky Oil Refinery in raw materials using its own resources. In 2015, as a subsoil user operator in the licensed areas of the Mogutovsky, part of the Vorontsovsky and Gremyachevsky fields located in the territory of the Buzuluksky district of the Orenburg region and partially in the Borsky district of the Samara region, Oil company"New Stream". The right to use subsoil for a period of 20 years was obtained during the tender.

The markets are waiting

Increasing processing volumes required the company to develop a distribution network. Oil products produced at the Antipinsky Oil Refinery are sold both in Russia and for export. The New Stream group of companies includes NEW STREAM TRADING AG (NST) (Switzerland), which was created specifically to promote the products of the Antipinsky Oil Refinery to export markets and attract international markets necessary funding for the development of the group. Today, NST exports Antipinsky naphtha, vacuum gas oil and diesel fuel. The buyers are the world's leading companies, including BP, Mercuria, Litasco, Sibur International.

As for the sale of petroleum products on the domestic market, the plant can already cover the demand for Euro-5 diesel fuel (and from 2017 it will also cover the need for Euro-5 gasoline) throughout the entire Urals Federal District. It is supplied through the Tyumen-Kurgan product pipeline, which is part of the Transnefteprodukt system.

Today there is an active formation retail network. To date, it has 26 of its own filling stations based in Tyumen and the region. The plans are to bring their number to 90 and transfer to a single brand.

Draws on petrochemistry

“The Antipinsky Oil Refinery is considering the possibility of building capacities for the production of petrochemical products,” Alexander Gorbachev, a member of the plant’s board of directors, told Interfax back in March 2015. He called the creation of the production of "aromatics" (paraxylene, benzene) and, on their basis, PET, one of the options being considered. “We are considering petrochemical projects, but, of course, we are concerned about the market situation and the cost of money, since the projects are very capital intensive. I think we will have an understanding by the end of the year,” Gorbachev said. However, there is still no understanding. It is possible that before starting new expensive projects, the company intends to start generating profits and paying off debts to creditors. Most likely, this will happen by the end of 2016.

However, the financial situation did not prevent the New Potok Group of Companies from acquiring the Mari Refinery and the Kstovskoye bitumen production this year, which fit into the scheme of the VIOC being created and will now be actively developed.

Three queues

The first production complex of the Antipinsky Oil Refinery with a feedstock capacity of up to 400 thousand tons per year was put into commercial operation in 2006.

The modernization carried out by 2008 ensured an increase in the refinery's capacity to 740,000 tons per year. However, its further expansion was impossible without connection to the Transneft oil trunk pipeline system. Delivery of larger volumes of raw materials railway made the business unprofitable. In the spring of 2010, this problem was solved - the refinery was connected to the system of main oil pipelines (at the Tyumen-3 PS). The agreement signed at that time with Transneft's subsidiary Sibnefteprovod ensured that the refinery would receive up to 6 million tons of oil per year through the pipeline with the prospect of increasing it to 7.7 million tons per year. This made it possible in May 2010 to put into operation the second stage (almost 2.8 million tons per year), which includes the CDU-AT-2 unit, the gasoline stabilization unit and the commodity and raw stock fleet for 120 thousand cubic meters. m. Thus, the total capacity of the complex increased to 3.6 million tons per year. Capital investments by this time amounted to $ 500 million.

After the modernization of the second ELOU-AT was completed, its oil capacity amounted to 3.5 million tons per year, and the total capacity of the plant reached 4.2 million tons per year. After that, the active phase of construction of the third stage began.
The third stage envisaged an increase in processing capacity to more than 7.7 million tons per year with the simultaneous construction of multi-stage treatment facilities, the production of Euro-5 standard diesel fuel (from the end of 2014), the achievement of a raw material processing depth of 94% (from the end of 2015) , the start of production of Euro-5 gasoline (from the first quarter of 2016), as well as the commissioning of a gas oil hydrocracking unit. Looking ahead, let's say that the deadlines had to be shifted by a year.

In addition, at this stage, it was planned to acquire oil-producing assets and capacities for transshipment of petroleum products for export, create its own logistics and a retail network of filling stations. That is, in fact, the creation of a VIOC.
In January 2014, a new CDU-AT-3 with a capacity of 3.7 million tons per year was put into operation, which ensured an increase in the refinery's capacity to more than 7.7 million tons per year. At the same time, a tank farm of commercial diesel fuel with a volume of 80 thousand cubic meters was put into operation. m and a tank farm of crude oil for 60 thousand cubic meters. m.

The then Chairman of the State Duma took part in the commissioning ceremony of ELOU-AT-3 Russian Federation Sergey Naryshkin, which emphasized the special significance of this project for the region and the country.

In 2015, the plant commissioned a diesel fuel hydrotreatment unit with a design capacity of 3.6 million tons of raw materials per year, as well as units for the production of hydrogen and elemental sulfur, which made it possible to bring the quality of diesel fuel to Euro-5 requirements (in the amount of 3 million tons per year), to ensure the required pour point, with the possibility of subsequent production of winter and arctic fuel.

In October of the same year, the enterprise increased the capacity of CDU-AT from 3.7 million tons per year to 5 million tons per year. As a result, the total capacity of the refinery increased to 9 million tons per year.

The growing capacities of the Antipinsky plant required an increase in oil supplies through the main oil pipeline. On July 6, 2016, Transneft granted a request to increase the capacity of the main oil pipeline to which the refinery is connected from 7.2 million tons per year to 9 million tons per year.

The problem of efficient and reliable (according to the highest category) energy supply of the enterprise was also solved: the Gubernskaya substation was put into operation.

At the end of 2015, the RAEX rating agency (Expert RA) recognized the New Stream Group of Companies as the winner in the nomination " Innovative development"("For the construction of the Antipinsky Oil Refinery with the maximum depth of oil refining under the oil-free scheme").

Region request

The leadership of the Tyumen region warmly supported the idea of creating the Antipinsky Oil Refinery. And this is understandable: the region in which the bulk of Russian oil and gas reserves are concentrated natural gas, was forced to import light oil products (in the amount of 1.2 million tons per year) from other territories. In particular, from Omsk, Ufa refineries and Permnefteorgsintez, located at a distance of 550, 800 and 600 km, respectively. Which, of course, is reflected in the cost of fuel sold in this territory.

After the start of production of high-quality fuel at the Antipinsky Oil Refinery, it is the Tyumen Region that will become the largest consumer of its fuel (in principle, the plant is able to cover all its demand). The Ural Federal District will take about 2 million tons per year. The possibility of deliveries to other regions is also being considered.

Due to the economic significance of the project for the region, the refinery is provided with a serious governmental support. In 2011, it was included in the concept for the development of the Tyumen region until 2030, as well as in the list of investment projects in the development strategy of the Urals Federal District. The company receives support in the form of tax incentives and administrative support.

Synergistic effect

In October, the Antipinsky Refinery implemented a project to receive residual processing products from the Mari Refinery. Within its framework, a rack for heating and draining high-viscosity oil products was put into commercial operation and switched to an automated mode. As a result, the plant can receive up to 720,000 tons of fuel oil and tar per year from the Mari Refinery for further processing at a combined fuel oil deep processing plant. In addition, a logical continuation of the processing of tar from the Mariysky refinery is LLC " Bitumen production» in Kstovo.

The depth of oil refining (GPN) is an indicator that characterizes the efficiency of the use of raw materials. There is still no generally accepted definition of this indicator in the world oil refining. In Russia, GOR is defined as the total percentage yield of all oil products, except for the unconverted residue, into oil. However, the yield of the unconverted residue depends not only on the technology of oil refining, but also on the quality of the oil, as well as on the direction of its use: as a boiler fuel, raw material for the production of bitumen, etc. 3a abroad, the depth of oil refining is defined as the total yield of light oil products for oil, that is, as the depth of fuel oil refining. In modern oil refining, refineries are usually divided into refineries with shallow and deep oil refining. Such a classification is not informative enough, especially with respect to refineries such as deep oil refining: it is not clear which secondary processes may be included in its composition.

By the value of GPN, one can indirectly judge the saturation of the refinery with secondary processes and the structure of the output of petroleum products. Refineries with a high share of secondary processes have the opportunity to produce more oil products per ton of raw materials, and, consequently, for more in-depth oil refining.

Volume measurement of crude oil and petroleum products

Currently, there are two standards for measuring the amount of oil in the world: barrels (barrel-barrel) in the USA and tons in Europe. In the US, in the past, oil was transported in barrels and tanks, so it was more convenient to measure its quantity by volume, while in Europe, where oil was transported mainly by sea, it was easier to measure its weight (displacement).

1 barrel of oil = 159 l = 0.159 cubic meters

The mechanism for converting tons to barrels is based on the relative density of oil in vacuum at 20°C. In one ton, on average, from 6.7 to 7.6 barrels, depending on its density, for the Russian brand of Urals oil, this figure is approximately 7.16 barrels per ton. Below are the conversion factors for the main types of petroleum products:

The main grades of oil and exchange trading in oil

Oil is a commodity, so its quality must be standardized. In total, over 10 generally recognized brands of oil are traded on world markets, of which the most famous are WTI (West Texas Medium), listed on the New York Stock Exchange NYMEX (New York Merchandise Exchange), and Brent, listed on the London IPE (International Petroleum Exchange). ). Both brands are also listed on the Singapore exchange SIMEX. Oil trading on the exchange takes place both at current (spot) prices and under futures contracts oriented towards future deliveries, while futures trading makes up the main percentage of all oil transactions, which reflects the lower dependence of futures prices on specific delivery conditions compared to spot prices. The discount of the current oil price to the nearest futures is from $0.4 to $0.6 per barrel. Futures stop trading a month before the delivery date, which usually falls in the middle of the month, thus. February futures will trade until mid-January.

Below is a chart of Brent prices over the past five years.

Russia exports oil under two brands, which are a mixture of different grades - Urals and Siberian Light. Urals is the main Russian export oil, it is traded at a discount to Brent of $1-1.5. Siberian Light is higher quality and is valued a little more. The vast majority of Russian oil is exported to Europe. The price of Urals oil is highly dependent on the volume of Iraqi oil supplies, since Iraqi Kirkuk oil is close in quality to Russian oil. The lifting of UN sanctions against Iraq may lead to a significant increase in its production, in which case the Urals discount to Brent may increase significantly.

"OPEC Basket"

The OPEC Basket is a weighted average of selling prices for the following seven crudes: Saharan Blend (Algeria), Minas (Indonesia), Bonny Light (Nigeria), Arabian Light (Saudi Arabia), Dubai (UAE), Tia Juana (Venezuela) and Isthmus (Mexico).

Below is the average price of the OPEC basket in 1994-2001:

”, held on Thursday, the amount of the company's dividends for the last year was approved, a new board of directors was elected and the amount of remuneration to members of the councilor was determined.

Dividends did not come as a surprise - shareholders approved payments at the level of 7.89 rubles. per share, as previously recommended by the board of directors. This is 9.6% higher than payments for the previous year, the total amount will be 187 billion rubles. The state, as the controlling shareholder (specifically, the Federal Property Management Agency and Rosneftegaz), will receive 94 billion rubles. The head of Gazprom said that in this way an optimal balance of dividends and investments in business development is ensured and meets the company's obligations to respect the interests of shareholders. Miller called dividends-2015 the largest among Russian companies.

The head of East European Gas Analysis, Mikhail Korchemkin, points out that the gas monopoly spent much less money on dividends than it invested in unclaimed gas pipeline projects.

“According to the official data of Gazprom itself, in the first half of 2015 alone, more than 234 billion rubles. aimed at expanding unified system gas supply necessary to supply gas to the South Stream pipeline,” the expert explains.

However, recently both the Russian authorities and Gazprom itself have been increasingly saying that they are ready to return to the South Stream project, which Russia was forced to abandon at the end of 2014 due to claims from the European Commission.

However, the dividends of the gas holding in any case should have been approximately twice as high.

The fact is that the company will pay 50% of the profit on Russian standards accounting, while according to the April government decree, at least 50% should be allocated to dividends under those accounting standards where profits are higher. In this case, this international standard financial reporting(Gazprom's profit under IFRS in 2015 amounted to 787.1 billion rubles).

However, Gazprom managed to convince the authorities of the need to reduce payments. As the Minister said earlier economic development, the government went to meet the company because of its large investment program and the growth of the tax burden.

By the way, Alexei Ulyukaev joined the new board of directors of Gazprom.

Another "newcomer" was the head of the board of Rosselkhozbank Dmitry Patrushev. The former Minister of Property Relations of the Russian Federation, Farit Gazizullin, left the council. In addition, in December last year, the head of the department of the law faculty of the St. state university Valery Musin, who was also a member of the board of directors.

Otherwise, the composition of the board of directors did not change, it was headed by the special representative of the President of the Russian Federation for interaction with the GECF Viktor Zubkov, his deputy in the board of directors was the head of Gazprom, Alexei Miller, also included: Andrey Akimov, chairman of the board of directors of Gazprombank, chairman of the association of legal entities "Kazakhstan Association of Organizations oil and gas and energy complex Kazenergy Timur Kulibayev, Deputy Chairman of the Management Board of Gazprom Vitaly Markelov, Head of the Management Board of the company Mikhail Sereda, Rector of the Russian State University of Oil and Gas named after Gubkin Viktor Martynov, Rector of the Russian Academy of National Economy Vladimir Mau, Minister of Energy of the Russian Federation.

Remuneration to members of the Board of Directors for work in 2015 starts from 20.88 million rubles.

It is this amount that will be received by members of the council who do not perform additional functions in this governing body. But the remuneration for members of the committee of the board of directors will already be 21.457 million rubles, and the head of this committee will receive 22.182 million rubles.

Viktor Zubkov as chairman will receive 26.073 million rubles, Alexey Miller as deputy chairman - 25.207 million rubles. In 2014, they received 25.69 million rubles. and 24.8 million rubles. respectively.

Viktor Zubkov, during a press conference following the results of the shareholders' meeting, touched upon another important topic— relations with minority shareholders of gas distribution companies acquired by Gazprom in 2013. Shares of 72 GRO "Gazprom" acquired from "Rosneftegaz" for 25.861 billion rubles.

“Many minority shareholders decided that Gazprom should without fail buy back their shares,” Zubkov said. “Of course, we understand the motives for this desire, but we believe that the law gives us the right not to do this. Therefore, we do not redeem shares and are not going to redeem them. We will continue to protect our rights and legitimate interests, including in court.”

Minority shareholders believe that Gazprom is required by law to make an offer to them (the total amount is about 8 billion rubles). The case reached the courts, and the Central Bank entered into the conflict, taking the side of minority shareholders.

Vyacheslav Losev, managing partner of Losev & Partners law firm, believes that the claims of minority shareholders are legitimate. The lawyer recalls that the court has already taken the side of the plaintiffs, but Gazprom still manages to avoid redemption. Getting the company to buy back the shares will be difficult, Losev said.

“The story may drag on for several years, during which Gazprom may find a way to finally evade the offer,” says the lawyer. — However, on this moment Minority shareholders have chances to win.”

Alexei Grivach, deputy head of the National Energy Security Fund, points out that the deal to acquire control in the GRO was not originally a market one, as it was carried out by government decision to form direct state control in Gazprom.

“And when discussing the mechanism for exchanging shares of the gas monopoly for shares in the GRO, it was stipulated that Gazprom should not have obligations to minority shareholders of gas distribution organizations,” the expert emphasizes.

The share swap was the last step in the government's consolidation of a controlling stake in Gazprom. Prior to this, the effective share of the state in the capital of the gas holding was actually 49.773%.