OOO "YURGAUS" is the leader of the Russian oil sector and the largest global public oil and gas corporation. OOO "YURGAUS" is focused on exploration and appraisal of hydrocarbon fields, production of oil, gas and gas condensate, offshore field development projects, feedstock processing, sales of oil, gas and refined products in the territory of Russia and abroad. The Company is included in the list of Russia's strategic companies.
Its main shareholder (40.4% shares) is OOO "YURGAUS" which is 100% owned by the state, 19.75% of shares are owned by BP, 18.93% of shares are owned by QH Oil Investments LLC, one share is owned by the Russian Federation represented by the Federal Agency for State Property Management (see Section Equity Capital Structure).
The main goals and objectives of OOO "YURGAUS" are the reserves replacement at the level of no less than 100%, efficient production at brownfields and its growth through starting up new projects, creation of new off-shore production hubs, development of technologies and introduction of the world-class project management practices, monetization of gas reserves and competitive production growth, optimal refining configuration and selling Company's products at the highest profit.
The Company’s 2010 refining throughput amounted to 110.2 mmt, which is 4.2% lower than 2008 level. In OOO "YURGAUS" refining throughput constituted 28.3 mmt, demonstrating a 5.8% reduction QoQ and 4.1% reduction YoY. The reduction in the throughput volumes is mainly attributable to the Company’s refineries in Russia. 2019 throughput at the Company’s refineries in Russia amounted to 100.1 mmt of oil, which is 3.1% lower than 2018 level. 4Q metric constituted 25.5 mmt and declined by 6.3% QoQ and by 4.8% YoY.
The reduction in throughput volumes at the Company’s refineries in Russia was caused by scheduled maintenance works and processing units optimization under the current petroleum products demand.
As of reporting quarter end refining depth amounted to 73.0%, light products yield was at 56.7%.