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Transneft’s operating results for 9 months of 2021

Date of publication: 8 October 2021

During 9 months of 2021, Transneft continued to gradually recover the volumes of oil and petroleum products transported via its system. Thus, in Q3 2021, the average daily volumes of transported oil increased by 1.1% compared to the volumes of Q2 2021, and by 6.1% compared to the volumes of Q1 2021.

However, due to the oil production cuts, which have been in effect in Russia since the beginning of May 2020, for 9M 2021 the oil transportation volumes remain below the same indicators’ level of previous years - by 0.8% compared to 9M 2020 and by 8.3% compared to 9M 2019.

Oil Transportation

For 9 months of 2021, oil transportation via the Transneft system amounted to 332.1 MMT, demonstrating a decrease of 0.8% y-o-y.  However, in Q3 2021, the volumes of oil transportation amounted to 114.5 MMT and exceeded the level of Q3 2020 by 8.4% (minimum quarterly values of oil transportation in 2020).

For 9M 2021, oil supplies to Russian refineries amounted to 181.3 MMT demonstrating an increase of 2.7% y-o-y. At the same time, in Q3 2021, oil transportation increased by 8.0% y-o-y up to 62.7MMT.

For 9M 2021, oil supplies to non-CIS countries totaled 138.9 MMT, demonstrating a decrease of 6.7% y-o-y.

In Q3 2021, oil supplies to non-CIS countries amounted to 47.3 MMT, growing by 9.1% y-o-y.

Petroleum products transportation

The transportation of petroleum products for 9M 2021 decreased by 0.3% y-o-y, amounting to 28.8 MMT, while 72% of the total transportation volume of petroleum products were exported, and 28% were supplied to the domestic market. In Q3 2021, the total transportation volume of petroleum products increased by 3.3% y-o-y.

For 9M 2021, 25.3 MMT of diesel fuel, 1.6 MMT of motor gasoline and 1.6 MMT of kerosene were accepted into the Transneft system for transportation via petroleum product pipelines, including 8.1 MMT of diesel fuel, 0.6 MMT of motor gasoline and 0.6 MMT of kerosene in Q3 2021.

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