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EUR 85.73

2 April, Thursday

Ufa   °

Молния

Bashneft's net profit amounted to 76.8 billion rubles in 2019

Economy/Business

Bashneft showed revenues of 854.6 billion rubles, EBITDA — 166.7 billion rubles, and net profit of 76.8 billion rubles at the end of 2019.

Net assets of the enterprise increased by 51 million rubles, reaching the level of 501.4 billion rubles. At the same time, the company reduced administrative costs by 10.9% compared to 2018.

Bashneft's capital expenditures in 2019 increased by 20.9%. These costs will provide a significant economic effect in 2020 and subsequent years.

Financial and economic stability has become possible in many respects due to good production results. In 2019, Bashneft managed to maintain production in the republic at the level of the previous year. The total production at brownfields at the end of 2019 amounted to 16.3 million tons, and for all assets — 18.7 million tons of oil. The volume of Bashneft’s upstream operations in 2019, with a general drop in this direction in the domestic industry, increased by 2.3% and amounted to 18.7 million tons.

The scientific and technical developments of Bashneft and Rosneft are introduced in real production. In 2019, catalysts, high-octane gasoline AI-100, and road bitumen were launched at the Ufa group of oil refineries of the company using proprietary technologies, and new brands of synthetic rubber were developed at Ufaorgsintez.

At the end of 2019, the company transferred more than 23 billion rubles to the regional budget in the form of tax payments. The volume of dividends received by the republic (owns a quarter of the company's shares) amounted to over 7 billion rubles this year.

In the framework of the Cooperation Agreement between Bashkortostan and Rosneft, a large-scale charity program of Bashneft is implemented in the republic aimed at improving the social infrastructure of the region.

/translated by Tatiana Aksyutina
Tags: Bashneft
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