Sales Revenue

Total sales revenue, mn RUB
2013 2014 Change, %
OIL
Export 106,665 107,340 0.6
Export sales 208,125 229,065 10.1
Minus: export duties −101,460 −121,725 20.0
International market 1,323 4,036 205.1
Export to CIS 48,619 15,889 −67.3
Domestic market 19,258 42,624 121.3
TOTAL REVENUE FROM OIL SALES 175,865 169,889 −3.4
GAS
International market 1,461 1,604 9.8
Domestic market 23,926 24,406 2.0
Total revenue from gas sales 25,387 26,010 2.5
Petroleum products
Export 253,429 282,085 11.3
Export sales 352,990 400,346 13.4
Minus: export duties −99,561 −118,261 18.8
International market 92,316 104,413 13.1
Sales on the international market 124,376 146,153 17.5
Minus: Includes the excise tax calculated based on the volume of petroleum products sold by the Serbian subsidiary.excise tax −32,060 −41,740 30.2
CIS 54,956 63,989 16.4
Export and sales to CIS 58,309 64,582 10.8
Minus: export duties −3,353 −593 −82.3
Domestic market 630,359 715,853 13.6
Total revenue from petroleum product sales 1,031,060 1,166,340 13.1
Other revenue 35,291 45,999 30.3
Total revenue 1,267,603 1,408,238 11.1
Source: Company data Zoom Download XLS

Total revenue for 2014 grew by 11.1% from 1,267.6 bn to 1,408.2 bn RUB.

Oil sales revenue for 2014 decreased by 3.4% from 175.9 bn to 169.9 bn RUB.

Gas sales revenue increased by 2.5% from 25.4 bn RUB in 2013 to 26.0 bn RUB in 2014. Sales of petroleum products increased by 13.1% compared with 2013 from 1,031.1 bn RUB to 1,166.3 bn RUB.

Other revenue grew 30.3% year-on-year. This was mainly due to growth in sales volumes. Other revenue primarily consists of revenue from transportation, construction, utility and other services.

Sales volumes
2013 2014 Change, %
OIL. MN T
Export sales 8.29 8.47 2.2
Sales on international market 0.05 0.13 160.0
Export to CIS 4.05 1.16 −71.4
Sales on domestic market 1.85 4.90 164.9
Total oil sales 14.24 14.66 2.9
GAS. BN m3
Sales on international market 0.14 0.13 −7.1
Sales on domestic market 12.64 10.76 −14.9
TOTAL GAS SALES 12.78 10.89 −14.8
PETROLEUM PRODUCTS. MN T
Export sales 14.61 15.64 7.0
Sales on international market 3.08 3.03 −1.6
Export and sales to CIS 2.21 2.09 −5.4
Sales on domestic market 25.84 27.54 6.6
TOTAL PETROLEUM PRODUCT SALES 45.74 48.30 5.6
Source: Company data Zoom Download XLS

The 2.2% increase in oil export sales compared with the 2013 level is connected with the growth in production in Russia.

A 71.4% decrease in oil export volumes to the CIS was caused by discontinued sales in Kazakhstan. The more than two-fold increase in sales on the domestic market is connected with the growth in production in Orenburg and the improved efficiency of operations with third party resources.

Gas sales declined by 14.8% from 12.8 bn to 10.9 bn m3 in 2014.

Petroleum product sales grew by 5.6% year-on-year from 45.7 tonnes to 48.3 tonnes.

Average sales prices, RUB/tonne
2013 2014 Change, %
OIL
Export sales 25,106 27,044 7.7
Export to CIS 12,005 13,697 14.1
Sales on domestic market 10,410 8,699 −16.4
PETROLEUM PRODUCTS
Export sales 24,161 25,598 5.9
Sales on international market 40,382 48,235 19.4
Export and sales to CIS 26,384 30,900 17.1
Sales on domestic market 24,395 25,993 6.6
Source: Company data Zoom Download XLS

Oil sales prices grew by 7.7% compared with 2013 level for export sales, increased by 14.1% for exports to the CIS and decreased by 16.4% for sales on the domestic market. Average petroleum product prices showed growth ranging from 5.9% for export sales to 19.4% for sales on the international market.

Export sales of petroleum products
2013 2014 Change, %
mn RUB mn t mn RUB mn t mn RUB mn t
High-octane petrol 7,855 0.27 2,564 0.08 −67.4 −70.4
Low-octane petrol 6,060 0.22 5,336 0.17 −12.0 −22.7
Naphtha 34,166 1.20 36,044 1.16 5.5 −3.3
Diesel fuel 142,134 4.80 148,502 4.59 4.5 −4.4
Fuel oil 125,195 6.71 137,816 7.12 10.1 6.1
Jet fuel 10,003 0.32 24,431 0.72 144.2 125.0
Marine fuel 14,258 0.57 26,505 1.03 85.9 80.7
Other 13,319 0.52 19,148 0.77 43.8 48.1
TOTAL 352,990 14.61 400,346 15.64 13.4 7.1
Source: Company data Zoom Download XLS

Export sales of petroleum products increased by 13.4% compared with 2013 from 353.0 bn to 400.3 bn RUB.

The 125.0% increase in jet fuel sales and 80.7% increase in marine fuel sales is connected with the expansion in the geographic presence abroad.

Petroleum product sales in the CIS
2013 2014 Change, %
mn RUB mn t mn RUB mn t mn RUB mn t
High-octane petrol 20,863 0.72 25,693 0.75 23.2 4.2
Low-octane petrol 4,314 0.18 3,884 0.13 −10.0 −27.8
Diesel fuel 17,267 0.63 24,617 0.76 42.6 20.6
Fuel oil 2,541 0.22 688 0.07 −72.9 −68.2
Jet fuel 7,905 0.20 3,192 0.09 −59.6 −55.0
Other 5,419 0.26 6,508 0.29 20.1 11.5
TOTAL 58,309 2.21 64,582 2.09 10.8 −5.4
Source: Company data Zoom Download XLS

Petroleum product sales in the CIS declined by 5.4% in physical terms year-on-year, but grew by 10.8% in value terms.

Petroleum product sales on the domestic market
2013 2014 Change, %
mn RUB mn t mn RUB mn t mn RUB mn t
High-octane petrol 241,733 8.06 285,311 8.60 18.0 6.7
Low-octane petrol 5,526 0.20 3,604 0.13 −34.8 −35.0
Naphtha 305 0.02 − − − −
Diesel fuel 200,883 7.16 220,000 7.35 9.5 2.7
Fuel oil 19,168 1.66 18,271 1.74 −4.7 4.8
Jet fuel 68,808 2.83 76,108 2.91 10.6 2.8
Marine fuel 43,978 2.45 60,823 3.39 38.3 38.4
Other 49,958 3.46 51,736 3.42 3.6 −1.2
TOTAL 630,359 25.84 715,853 27.54 13.6 6.6
Source: Company data Zoom Download XLS

Petroleum product sales on the domestic market grew by 6.6% in physical terms year-on-year and by 13.6% in value terms.

The year-on-year increase in sales of motor fuels is connected with growth in the sales network and the average daily sales per filling station.

The 38.4% year-on-year increase in marine fuel sales on the domestic market is due to growth in the bunkering market in the Far East and Black Sea.