Business model

“In 2017, Gazprom Neft strengthened its leading position in the Russian oil industry and became one of the top three oil producers in the Russian Federation”.
Alexey Miller Chairman of the Board of Directors Gazprom Neft PJSC

Advantages of the business model

Unique features of assets

Development strategy

Ensuring efficiency in any market conditions

Strategic goals for 2025

Major progress towards stated goals

Proven reserves According to PRMS-SPE standards.

Balanced portfolio of production assets

Gazprom Neft’s portfolio includes conventional and offshore oil as well as oil and gas fields in different stages of development (ranging from exploration to mature fields) in Russia and abroad, which enables the Company to increase production in an effort to maximize profit based on market conditions.

mn TOE
mn TOE of proven reserves


Refining At oil refineries in Russia.

Modern and efficient oil refineries

An advantageous location, modernized facilities, and ongoing projects to improve operating efficiency ensure a high level of oil refinery efficiency.


Direct sales network in most Russian regions and ten countries

Having a large sales network in Russia and around the world allows for maximizing the margin from the sale of oil and petroleum products to a wide range of customers – from retail consumers to major traders.

Adjusted EBITDA


Implementing the plans outlined in the Strategy until 2025 is designed to create the greatest added value on the invested capital of shareholders in the oil and gas industry of the Russian Federation.

Increased production at major projects as well as growth in retail sales and the prices of oil and petroleum products made it possible to generate a record level of adjusted EBITDA over 5 years.

Creating value for stakeholders

How we do it

Shareholders and investors

Long-term growth in the Company’s value and a high level of dividend yield.

  • Constant communication with investors, shareholders, and analysts to support a fair price for the Company’s securities.
  • Development of a corporate governance system that balances compliance with the best Russian and international practices with a high level of industry specificity.
  • Information transparency in covering the results of the development strategy.
  • Equitable dividend policy.
  • Observance of minority shareholder rights.
  • Continuous development of a risk management system with a detailed elaboration of responsibility.
  • Fair share valuation: quotes of RUB 244.1 per share as of 31/12/2017.
  • Dividend payments of 25% of consolidated IFRS result for 2016.
  • Total shareholder return of 14.5% for 2017.

Consumers and customers

Good availability and a stable supply of petroleum products with excellent consumer and environmental properties.

  • Expanded direct sales to corporate clients through the Company’s own distribution network.
  • Expanded network of Gazprom Neft petrol stations and a loyalty programme.
  • Partnership with leading petroleum product consumers.
  • Development and production of products with enhanced consumer and environmental features.
  • Increased efficiency of sales channels through the digitization of business processes and the development of communication channels with customers and counterparties.
  • Leading positions on premium markets.
  • Best petrol pumping in Russia of 20.1 t/day per petrol station.
  • Consumer loyalty index (NPS) of 59 points.
  • 12.4 million participants in the Gazprom Neft petrol station loyalty programme.
  • All motor fuel complies with Euro-5 emission standards.


Stable employer that allows for effective development.

Respectable compensation package.

  • Systematic recruitment and rotation of personnel.
  • Talent management, competency development, and training.
  • Development of motivation systems and establishment of a culture of engagement.
  • Growth in labour productivity and organizational effectiveness.
  • Enhanced effectiveness of HR relations function.
  • In 2017, the Company ranked first among energy sector employers in the Randstad Award-2017 rating.
  • Personnel turnover rate of 15.1% (same as in 2016).
  • Average monthly salary of RUB 112,900 (+7.6%).
  • Corporate University working in based on the innovative marketplace model. 55,900 employees underwent training in 2017 (+6.3%).

Society and regions of operation

Responsible business and development of the regions of operation.

  • Ensuring a significant volume of tax revenue to local budgets.
  • Contribution to the development of social infrastructure.
  • Creation of highly efficient jobs.
  • Minimizing any negative environmental impact.
  • Ensuring a high level of production safety.
  • Growth in the energy efficiency of the Company’s enterprises.
  • Support for the population and key stakeholders.
  • Gazprom Neft is one of the largest taxpayers in the regions where it operates.
  • Social investments as part of the ‘Native Towns’ project.
  • LTIFR of 0.326 with a downward trend.


Energy security.

Tax payments.

Technological development of the Russian oil and gas industry.

  • Stable growth in production and effective oil refining with a broad petroleum product sales network in Russia.
  • Implementation of the first major offshore project – the Prirazlomnoye platform and the comprehensive development of Russia’s Arctic shelf.
  • Development of a centre of technological competencies and technological import substitution.
  • Hydrocarbon production of 89.75 mn TOE.
  • Availability of petroleum products for the population and business in 51 Russian regions.
  • Meeting the demands of the domestic market.
  • RUB 721 bn in tax payments Paid by the Group’s Russian companies taking into account proportionally consolidated and joint ventures in accordance with equity participation, including taxation/fees, export duties and insurance contributions. in 2017.
  • Thanks to the use of modern technologies, Gazprom Neft has extended the service life of mature fields.
  • The Downstream Efficiency Control Centre opened (process optimization as a result of an integrated digital platform).