Translated material
Every fifth dollar is from Russia
Investments in Rosneft turned out to be a very successful deal for BP: Bloomberg
Russian oil companies turned out to be much more resistant to decline in oil prices than their Western competitors. This thesis can be illustrated, in particular, the state of affairs in the BP, which in 2013 acquired a large package of Rosneft shares. Now this package has begun to work, saving BP from a sharp decrease in profit. Bloomberg calculated how much the British company now depends on Russia - it turned out that it was very significant.
Two years ago, in the BP, one of the largest oil companies in the world, they feared that international sanctions would greatly damage its business in Russia. It turned out that nothing of the kind - Russia brings BP more and more money, especially if you count not in absolute numbers, but in the share of profit.
World oil prices are very low - in dollars - level. What does this mean for all oil companies in the world? Fall of income. What does this mean for Russia? Devaluation and, therefore, savings on labor and taxes - again, if you transfer expenses into dollars.
As a result, in 2015, the BP earned 22% of all its pre -divided profit in Russia. The Western company received this money, being one of Rosneft's largest shareholders (since 2013 it has been owned by 19.75% of the state -owned state). Neither in 2013, nor in 2014, the Russian share in the revenue did not exceed 20%.
Of course, the drop in oil prices also affects Rosneft. In 2015, BP, according to Bloomberg, received 80 billion rubles in Russia (eight billion more than a year ago). In dollars, BP income fell by 30%, but on average around the world this figure was 51%.
Investments in Rosneft helped BP solve another problem: deposit depletion. Russia is the only place in the world where the BP was able to replace the prey by receiving licenses for new deposits. The replacement indicator in BP in 2015 amounted to 61%. Without Russia, this indicator would fall to 34%.
The weak ruble helped Russian companies bypass their competitors in Europe and the USA. The five largest oil companies - Exxon Mobile, Royal Dutch Shell, Chevron, Total and BP - all reported the fall of income. And only at Rosneft they grew by 2 percent. (English Yaz.)