Investor Presentaiton
19
OIL REFINING
Refining margins¹, $/t
64.8
400
Key product prices less cost of
feedstock, Russian refineries¹, $/t
45.2
300
40.1
29.4
29.9
200
14.0
12.4
5.5
6.5
100
0.5
10.4
11.1
17.6
20.8
- 24.8
-100
- 29.1
40
40
28.0
Product output, mmt
ROSNEFT
24.8 25.1
25.7
26.3
25.7
25.6
30
23.5
20
10
0
0
TT
-10
-200
-300
-20
-30
-400
-40
Q1'20
Q2 '20 Q3 '20
Q4'20
Q1'21
Q2 '21
Q3 '21
Q4'21
Q1 20 Q2 '20 Q3 '20 Q4'20 Q1'21 Q2'21 Q3 '21 Q4'21
Q1'20
Q2'20
Q3 '20
Q4'20 Q1'21 Q2 '21
Q3 '21
Q4'21
Russia
-Europe
Diesel
Fuel oil
Gasoline
Refining margin (RHS)
Diesel
Fuel oil
Gasoline
Other
Outside Russia
Note: (1) Including the reverse excise tax on crude and damper for motor fuels. Prices for petroleum products are calculated «at the refinery gates»
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