Crude Oil Exports

In 2007, Rosneft exported 52% of crude oil it produced to global markets, and another 6% to the CIS countries. The Company’s total exports were 59.1 mln. tonnes (432 mln. barrels), an increase of 7.7% compared to 2006. Rosneft’s share of export deliveries in total crude oil production went down by 10 percentage points, as the bulk of additional crude output was delivered for further processing to the Company’s refineries.

The majority of crude oil (approximately 70% of total exports) was delivered to European and CIS customers via Transneft’s facilities and ports, such as Primorsk and Novorossiysk. Rail deliveries of crude oil (including combined transportation schemes) were made primarily to Pacific Rim markets. In late 2004, Rosneft also started oil exports via the Caspian Pipeline Consortium transport infrastructure. In 2007, the Company’s total shipments via CPC pipeline system were 5.2 mln. tonnes (38 mln. barrels) of crude oil and 0.7 mln. tonnes (over 5 mln. barrels) of gas condensate.

Rosneft’s own export facilities include marine terminals in Arkhangelsk and Belokamenka, which export crude oil coming from Timan-Pechora fields, and the De-Kastri terminal that ensures efficient shipments of Sakhalin-1 crude. In 2007, the Company’s terminals in Belokamenka and De-Kastri handled 2.4 mln. tonnes (18 mln. barrels) of crude oil each.

Crude oil export sales