Анализ ЮКОСа. Деятельность, стратегии развития, история
Дата создания: 31.10.2004
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YUKOS` Mission is to contribute to economic prosperity and social progress in the regions where the Company does business.
YUKOS` Primary Challenge is to make the Company work as effectively as possible in the interests of our shareholders, employees, partners, customers, and society as a whole.
Brief story of YUKOS
H eadquartered in Moscow, Russia, YUKOS is one of Russia's largest and fastest-growing publicly traded fully integrated petroleum companies and a leader in production, refining, light product yield, and market capitalization growth in Russia. The Company is involved in just about every aspect of the oil industry, from the well head to the filling station, and is now seeking to become a large gas producer as well. YUKOS' principal production assets are located in the Khanty-Mansiysk Autonomous District and Tomsk Region of Western Siberia and the Samara Region along the Volga River in European Russia. Recent acquisitions have expanded the Company's reach into Eastern Siberia and the Yamal Nenetsk Autonomous District in Russia's Far North. YUKOS has five principal refineries in Russia, ranging geographically from the Samara Region in the west to Angarsk near Lake Baikal in Eastern Siberia, as well as being the majority owner and operator of the largest refinery in the Baltic States, in Mazeikiai, Lithuania. YUKOS also runs eighteen distribution companies and more than 1,100 filling stations under the YUKOS brand name. The Company currently employs about 100,000 people. YUKOS' international management team is committed to implementing global best practices such as good corporate governance and transparency, improving efficiency and performance, and creating superior value for its shareholders, customers, and employees.
Soviet Oil Industry Restructured
In the early 1990s, after the collapse of the Soviet Union, in Russia began privatisation, because government did not have enought money to keep all plants and factories that were nationalised in the 1930th -1950th. . At this time were formed Russian gangsterism and mafia. People from government and their friends were the first who began to buy property. The same situation was in the Russian oil industry - it consisted of hundreds of stand-alone state-owned entities, each with a narrow area of specialization, limited geographic reach, and specific economic interests. Many of these were inefficient, unprofitable, and overstaffed, and survived only by virtue of continued state support. The Russian government set out to fundamentally restructure the sector to make it viable in a global market environment by combining groups of existing entities and corporatizing them to create vertically integrated oil companies. Thus it was that YUKOS was founded on April 15, 1993 by Decree No. 354 of the Russian government.
First Fully Privatized Russian Oil Company
I n 1995 structure YUKOS` included association "Samarneftegas", new marketing enterprises, line of research institutes. At the end of 1997 YUKOS having paid more than $ 1 billion, became the owner of a control package of the shares of East petroleum company uniting 12 enterprises at the centre of Siberia. In 2000 YUKOS has got 68 % of the shares of East-Siberian oil and gas company. In 2001 YUKOS became the owner of Angarkaya petrochemical company in Irkutsk area. In April, 2002 YUKOS has got 49 % of the shares state Slovak oil company Transpetrol - operator of main oil pipelines in territory of Slovakia. Besides in 2002 the Company carried out the bargain on purchase of a package of the shares of the Lithuanian concern Mazeikiu Nafta, into which enter Mazheykyayskiy petrochemical plant, terminal Buteinge and Birzhayskiy oil pipelines. Today YUKOS is the largest shareholder Mazeikiu Nafta and has the rights to operation of business. In an active of the Company have appeared "Arktikzan", "Rospan" and "Urengoil".
Results of the 2003 year
105 000 highly professional employees
80,8 millions of tons of the extracted petroleum in 2003
38,1 millions of tons of the advanced petroleum in 2003
5,65 billions a cube m of the extracted gas in 2003
16,0 billions barrels of the proved stocks of petroleum and gas,
$ 300 millions of the dividends on results of 2000, $ 500 millions of the dividends on results of 2001, $ 700 millions of the dividends on results of 2002 and about $ 2 billions for the first 9 months of 2003
T he founder and director of the company since 1993 was Mikhail Khodorkovskiy. October 25, during a trip of regions, Khodorkovskiy was arrested in Novosibirsk under the petition of the main court of Russia. It is considered, that one of the contracts made in 1993 was illegal. The trial proceeds.
Type of management of the company
The hierarchy is a organisation type of management of the company, when the headperson is one man (director, chief), he is in control of some managers, and hundreds of people working for them. Very often the hierarchy type is a autocratic control system and is used in the majority of the companies of such size. YUKOS - typical example of hierarchy. The leader of the company till recent time was Mikhail Khodorkovskiy. Now that M. Khodorkovskiy is on trial the American Steven Theede has taken over his position. The system of hierarchy allows the management to quickly and precisely give back the orders to the employees of the firm. It also helps to keep the company in order and minimises mistakes.
Arrangement of the company in economy
The YUKOS company occupies primary and teasury parts of the economy. It means, that the company itself extracts and processes minerals. For this purpose YUKOS expands sits phere of products to influence the customers and buys the new companies. For creation of good image of the company, YUKOS tries to make its petrol station more convenient and comfortable, and the prices for petrol – make less. Teasury part of YUKOS – means that the organization sells petrol to the consumers on Yukos petrol stations or exports to other countries. Accordingly YUKOS owns small local auto and railway companies to transport petroleum from region to region, from the country to the country.
The management of the company
YUKOS is a private sector company. The team of high quality managers operates YUKOS. They have a wide experience of work in the petroleum industry, bank sector and government. They combine modern business thinking and innovation in their approaches with professionalism and purposefulness. Their knowledge and skills multiplied by financial and technical resources of YUKOS is a pledge of the further successes of the company.
The management of the company are on independent Board of directors, which structure includes the known representatives of the international business, scientists and chiefs of regional administrations, in which territory the enterprises YUKOS work. The managers of the Company (both working, and retirement) make up 6 out of 15 places on the Board of directors.
Actual owners of the company is a small number of the shareholders. The greatest number of the shares belong tothe former owner M. Khodorkovskiy. 7 percents of the shares belong to Platon Lebedeff, also on the trial with M. Khodorkovskiy.
The objectives of YUKOS
The complex program of reorganization of the petroleum selling system on a home market creates new objectives for the company , the main ones being:
increase of a share on the russian market of the company;
strengthening of positions of YUKOS in traditional regions;
an expansion of market territories;
re-structuring of a retail network;
reduction of culture of sales, quality and assortment of sold production in conformity with the worldstandards.
making the service of sales, quality and assortment of the sold product the same as world standarts.
The program of reorganization of the Company`s marketing activities, which is successfully developing now, it includes the projects on expansion and modernization of an existing net of petrol stations in territory of regions of traditional presence and creation of a retail network in new territories, introduction of the uniform automated control system on a net of petrol stations, creation of complexes fuel stations
On what YUKOS is based
According to long-term strategy YUKOS`s basic growth of manufacture was came on light petroleum.
In the structure of selling petroleum YUKOS`s the basic accent is madeon a home market, this is explained by a favorable conjuncture in the Russian Federation. At the same time on export it is necessary about 30 % on all sales of petroleum.
The essential growth of manufacture has allowed an increase in volume of petroleum in the Russian market by 22 % - up to 16,9 mln tons.
Share (%) of YUKOS in deliveries on a home market:
The projects, contracts and plans of the company
YUKOS has concluded many contracts. Among partners of the company are such giants of economy as Microsoft and SINOPEC. The company searches for the new partners for increase of a zone of influence, that inevitably entails increase of the profit. The partnership specifies Long-term business, possibly the company will lose small quantityof money now, but in eventuallity will return more than its expenses.
YUKOS continues looking abroad for opportunities for development of the market. The example it is served with recent signing of the important contracts between YUKOS and Chinese petrochemical corporation (SINOPEC) and Chinese national petroleum corporation (CNPC) - conducting Chinese oil refining enterprises and importers. Within the framework of these agreements YUKOS within 2001 did put up to 2 mln. tons of crude oil to CNPC and SINOPEC.
Last year the Company achieved appreciable successes in expansion of sales of petroleum on a home market, by opening new factories in regions of East Siberia, the Far East and Northern Caucasus. Therefore in the first quarter of 2001 the marketing policywas directed on fastening of positions in the new markets and increase of a share of sales through its own retail network. Standard items on a home market has increased by 10%.
Having sufficient volumes of petroleum for performance of the obligations and maintenance of the consumers inside Russia, YUKOS in its 1st quarter of the year actively increased export of petroleum. For 3 months it has grown by 56 % (in comparison with the similar period of 2000). The actual planned rate of growth was 18%. The preparation of the first long-term contracts on export of petroleum began at this time.
T he priority project in the field of export of petroleum for YUKOS is the project of export in China.The civil-engineering design of an oil pipeline from Russia to China has received political support from governments of both countries, that gives additional guarantees to the participants of its realization. The Chinese side has expressed desire independently to finance construction of the Chinese site of the pipeline. Finishing of construction on the oil pipeline is expected in 2005. In the same year its operation will begin: at the first stage (2005-2010 yrs.) the agreement provides annual deliveries in China in volume 20 mln. tons, at the second stage (2010-2030 yrs.) - 30 mln. tons of petroleum.
The petroleum company YUKOS and computer corporation Microsoft have signed the general agreement on cooperation till 2003.
Under the agreement, YUKOS will use as the corporate standard the most progressive decisions from Microsoft in server area of technology, operational systems and appendices, and also corporate mail.
I n turn, Microsoft will carry outin the relation to YUKOS preferential license policy, to provide with the necessary information on new products and technologies of computer corporation, and also carry out training the experts of the petroleum company. According to the agreement between YUKOS and Microsoft, in all enterprises and divisions of the petroleum company the uniform standard of information system will be entered. As a platform of uniform information system YUKOS is a Microsoft Windows 2000 operational system and service of the catalogues Active Directory will be used.
The project provides installing Windows 2000 on all Moscow offices of YUKOS, including more than 1000 computers and 40 servers. At the Moscow offices of YUKOS all works were executed in 2000. In 2001 was planned to realize the similar projects in regions.
Now, the corporate network YUKOS is one of most powerful and large in Russia. It includes more than 5 thousand users and 110 networkmaking servers. Within the coming three years YUKOS is going to invest about 10 mln dollars in conclusion with the Microsoft corporation to introduce their information technologies. The realization signed with Microsoft of this agreement will allow YUKOS to reduce its operational charges and lower its expenses for support systems by more than 15 %.
Within the framework of policy on active development of export directions, essentially new to the Russian petroleum, YUKOS in the middle of October, 2000 has announced about signing an agreement with Croatian oil-exporting company JANAF (Jadranski Naftovod). The agreement provides modernization of an oil pipeline "Adriya" in Croatia within the framework of its integration with an oil pipeline "Friendship". This project will allow the Company to transport petroleum on the coast of the Adriatic sea without a intermediate point of changing transport, which sharply increases cost of export.
The petroleum Company YUKOS and firm TECHNIP, one of the conducting companies of the world specializing on granting engineering and project-building services in area of oil and gasextracting, YUKOS have signed agreement on cooperation on arrangement of petroleum and gas deposits and development pipelined systems in January, 2001.
According to the signed document, TECHNIP together with our Company will develop the separate projects, to give project-building services and to carry out deliveries of the equipment in the field of production, processing and transportation of chemicals (carbon + hydrogen).
The first works within the framework of the agreement will concern ground structures and pipelined systems in the Tomsk area, where YUKOS is aimingto considerably to increase production, toincrease efficiency of the equipment and to finish it up to a level of the world standards.
"We are going to use the newest of TECHNIP in the sphere of repairing and adjustmenting pipelined systems for improvement of an ecological situation in our regions " - the Chairman of Government of YUKOS Mikhail Khodorkovskiy has emphasized.
The petroleum company YUKOS and company UOP Services Limited, is the largest engineering company specializing on licensing of oil refining and petrochemical technologies, granting engineering services and delivery of catalysts for oil processing, on April 11, 2001 signed agreement on technical consultation in the field of introduction of modern technologies of processing of petroleum and perfection of the industrial circuits, included in structure of YUKOS. The company UOP Services Limited will make 1,5 mln dollars for this work
The cooperation with UOP Services Limited in realization of tests both researches of samples of raw material and products will promote increase of the operational characteristics used by YUKOS of the process equipment, increase the output of light petroleum, hign-oktanum petroleum and products of petrochemical processes.
Besides UOP Services Limited will develop the program of training of the personnel of an oil refining complex of the Company and improvement of professional skill of the experts of the plants.
The petroleum company YUKOS and Williams International signed an agreement on June 15, 2001 on cooperation, according to which up to the middle of September it is planned to finish all operations on the purchase of YUKOS` shares of oil refining concern Mazeikiu Nafta as a new issue. As a result of this agreement Williams International and YUKOS become the partners.
The YUKOS company will posess 26,85 % of the shares of Mazeikiu Nafta. Besides within the framework of this agreement of the party will sign the contract about annual deliveries by our Company about 5 mln. tons of petroleum on Madgeskyayskiy oil-refining plant. YUKOS also will give the credit for 75 mln. US dollars to Mazeikiu Nafta.
Thus, the oil-extracting company YUKOS - one of the conducting companies in this branch - is a good example of structure of a Hierarchy-organosation type, it is the company aspiring to increase the income, by improvement of quality of its goods and reduction of its price, thus keeping its image. The number of the contracts with other companies, as oil-extracting, and engineering ones, shows the long term of the company. YUKOS - company, which despite of all last events continues to participate actively in life of a society and looking for new buyers.
How was the report compiled
Brief story of YUKOS 2
Soviet Oil Industry Restructured 2
First Fully Privatized Russian Oil Company 3
Results of the 2003 year 3
The director. 3
Type of management of the company 4
Arrangement of the company in economy 4
The management of the company 5
The objectives of YUKOS 5
On what YUKOS is based 6
The projects, contracts and plans of the company 6
How the report was compiled 10
Research and analysis of structure of the company.