Crude Oil Exports

In 2008, Rosneft subsidiaries exported 46% of crude oil it produced to global markets, and another 5% to the CIS countries. The Company’s total exports were 396 mln barrels (54.2 mln tonnes), a decrease of 8.3% compared to 2007. Rosneft’s share of export deliveries in total crude oil production went down by more than 7 percentage points, reflecting an increase in refinery throughput at the Company’s own refineries due to high refining margins.

The Company exported 281 mln barrels (38.4 mln tonnes) of oil to Europe and 37 mln barrels (5.0 mln tonnes) to CIS countries. Deliveries to Asia-Pacific countries totaled 79 mln barrels (10.8 mln tonnes). China was the biggest importer of Rosneft oil in 2008, buying 65 mln barrels (8.9 mln tonnes), which matches the figure in 2007. China accounted for 16.4% of Rosneft’s total oil exports in 2008.

The largest share of Rosneft’s export deliveries are via Transneft transport capacities, including export pipelines and ports such as Primorsk and Novorossiysk. Rail deliveries of crude oil (including combined transportation schemes) are made primarily to Pacific Rim markets. Rosneft also exports crude oil via the infrastructure of the Caspian Pipeline Consortium where it holds a stake.

Rosneft’s own export facilities include marine terminal in Arkhangelsk and Belokamenka floating terminal, which export crude oil coming from Timan-Pechora fields, and the De-Kastri terminal that ensures efficient shipments of Sakhalin-1 crude. In 2008, the Company’s terminals in Arkhangelsk and De-Kastri handled 11 mln barrels (1.5 mln tonnes) and 14 mln barrels (1.9 mln tonnes) of Rosneft’s crude oil, respectively.

Export deliveries of oil in 2008 used the following transport routes:

• sea terminals at Primorsk, Novorossiysk, the Belokamenka floating storage unit, De-Kastri and Yuzhny (255.6 mln barrels or 64.5% of total export volumes);
• railroad to China including combined pipeline and rail routes (65.1 mln barrels or 16.4%);
• pipelines to Belarus, Poland and Kazakhstan (75.5 mln barrels or 19.1% of total export deliveries).

Crude oil export sales