Khabarovsk Oil Refinery 2013 exchange rate loss at 2 bln rubles
KHABAROVSK. April 1 (Interfax) - Khabarovsk Oil Refinery , a subsidiary of Alliance Oil Company (AOC), posted a net loss of 555.2 million rubles in 2013 under Russian accounting standards compared with a net profit of 3.480 billion rubles in 2012, the company said.
Revenue increased 36.8% to 10.640 billion rubles, 99.7% of which came from sale of oil products.
An explanatory note says the company had an exchange rate gain of 1.763 billion rubles on the revenue side and an exchange rate loss of 3.800 billion rubles on the spending side, indicating that the net exchange rate charge was 2.037 billion rubles.
Including earnings in previous years totaling 8.358 billion rubles, the unallocated surplus at the end of 2013 amounted to 7.808 billion rubles.
Financial highlights for Khabarovsk Oil Refinery ('000 rubles):
| 2013 | 2012 | |
| Revenue | 10 639 864 | 7 774 321 |
| Production costs | 4 614 507 | 2 313 417 |
| Gross profit | 6 025 357 | 5 460 904 |
| Profit from sales | 4 690 409 | 4 327 440 |
| Pretax profit (loss) | (605 905) | 4 156 180 |
| Net profit (loss) | (555 233) | 3 479 651 |
Payables declined to 1.113 billion rubles as of December 31, 2013 from 1.986 billion rubles a year earlier.
Khabarovsk Oil Refinery processed 4.392 million tonnes of crude oil in 2013, 11.6% more than in 2012. Output rose 13.4% to 474,600 tonnes for gasoline, 6% to 281,600 tonnes for diesel fuel, 15.7% to 1.232 million tonnes for bunker fuel, 15% to 1.529 million tonnes for fuel oil and 24.3% to 12,800 tonnes for liquefied petroleum gas.
Oil Company Alliance, a 100% subsidiary of AOC, owns 98.87% of shares.
AOC was formed in 2008 through the merger of Oil Company Alliance and West Siberian Resources. The company is engaged in hydrocarbon exploration and production in Komi, Tomsk region, Nenets autonomous district and the Volga-Urals region and in Kazakhstan. It also owns Khabarovsk Oil Refinery and an extensive retail network in the Far East.