We use cookies
to help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

Russian SIBUR announced Full Year 2020 financial & operating results

CIS PETROCHEMICALS

Russian SIBUR announced Full Year 2020 financial & operating results

Russian SIBUR announced today its operating & financial results for the Full-Year 2020. Source: Neftegazru

In 2020, revenue decreased by 1.6% year-on-year to RUB 523 billion, down from RUB 531.3 billion a year earlier.

Capital expenditures decreased by 25% year-on-year to RUB 112.9 billion, mainly due to the completion of constructionof the ZapSibNeftekhim project, as well as due to an optimisation of the investment programme for 2020.

Despite a decrease in supply of APG from oil companies in the wake of the OPEC+ agreement, feedstock supply remained stable.

In 2020, SIBUR’s GPP´s processed 21.2 billion m3 of APG, down 6.2% YoY.

LPG sales decreased by 34.7% to 3.4 million tonnes due to an increase in the internal consumption as ZapSibNeftekhim reached its design capacity.

Dmitry Konov, SIBUR Holding´s CEO said:

  • In 2020, SIBUR delivered an increase in key financial & operating results and maintained high margins despite a challenging macroeconomic environment
  • This was possible above all due to the launch of ZapSibNeftekhim and cost optimisation measures
  • Despite partial optimisation of our investment programme, we maintained our focus on expanding our petrochemical business and continued implementing our key projects.  
  • We made the final investment decision on our next key growth project – the Amur GCC – and started the construction
  • At Novokuibyshevsk and Tver facilities, we increased the use of green energy produced from renewable energy sources
  • We also have an extensive R&D programme that works alongside leading industry experts to implement green technologies and create new circular-economy products
  • We invested over RUB 2.9 billion during 2020 to mitigate risks associated with the pandemic

In 2020, SIBUR’s reported revenue of $7.2 billion and EBITDA of $2.5 billion.

Over the past 10 years, SIBUR has implemented a number of large-scale investment projects worth about RUB 1 trillion.

Relevant news

CIS GAS MONETISATION
Sibur, Gazprom Neft and Uzbekneftegaz consider investing in Shurtan Gas Chemical Complex
The cooperation agreements were signed by the 2 Russian companies and Uzbekneftegaz last week during an official visit to Moscow by a delegation from Uzbekistan’s energy ministry.
CIS GAS MONETISATION
Sibur and Sinopec set up JV at Amur gas chemical complex
SIBUR and Sinopec will hold interest in the JV in the amount of 60% and 40%, respectively.
CIS PETROCHEMICALS
Russia approves Sinopec's participation in the Amur Gas Chemical Complex
The Amur Gas Chemical Complex, with investments of up to $11 billion, is set to start producing polyethylene and polypropylene in 2024 - 2025.
CIS PETROCHEMICALS
The online official ceremony to mark the start of SIBUR’s Amur Gas Chemical Complex project
Official ceremony of Amur Gas Chemical Complex
CIS PETROCHEMICALS
Sustainable development at SIBUR
Maxim Remchukov, Director, Sustainable Development, SIBUR
CIS PETROCHEMICALS
Sibur says it raises $500 million in five-year eurobonds
Sibur said it has raised $500 million following the offering of 5-year eurobonds on the Irish Stock Exchange.