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Transneft’s operating results for Q1 2021

Date of publication: 8 April 2021

In Q1 2021, Transneft saw a slight increase in the average daily volumes of oil transportation as compared to Q4 2020, while the Company's operating results remain significantly below the Q1 2020 level due to the limited crude oil production in Russia under the OPEC+ deal.

During the reported quarter, the average daily volumes of oil transported via the Transneft system increased by 0.4% as compared to Q4 2020 level. At the same time, the consolidated figures for oil transported during the quarter amounted to 105.6 MMT, having decreased by 1.8% as compared to Q4 2020, due to fewer days in Q1 2021.

Petroleum products transportation increased by 5.6% compared to the previous quarter mainly due to an increase in export supplies.

Oil transportation

For Q1 2021, oil transportation via the Transneft system amounted to 105.6 MMT, which is 1.8% less than Q4 2020 and 12.1% less than the same indicator in Q1 2020.

Oil supplies to Russian refineries for Q1 2021 decreased by 6.7% compared to Q1 2020, amounting to 58.9 MMT.

For Q1 2021, export supplies of crude oil totaled 46.7 MMT, demonstrating a decrease of 18.2% compared to the same period of 2020.

In Q1 2021, oil supplies to non-CIS countries amounted to 42.9 MMT, decreasing by 23.1% compared to the same period of the previous year.

Petroleum products transportation

The transportation of petroleum products for Q1 2021 decreased by 9.5% compared to the same period of the previous year, amounting to 9.5 MMT, while 82% of the total transportation volume of petroleum products were exported, and 18% were supplied to the domestic market.

The transportation volume of petroleum products increased by 5.6% compared to Q4 2020. 

In Q1 2021, 8.8 MMT of diesel fuel, 0.4 MMT of motor gasoline, and 0.3 MMT of kerosene were accepted to the Transneft system for transportation via petroleum product pipelines.

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