Creating an Energy Analysis Concept for Oil and Gas Companies: The Case of the Yakutiya Company in Russia

Jun Yan, Lianyong Feng, Alina Steblyanskaya, Anton Sokolov and Nataliya Iskritskaya
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Jun Yan: School of Business Administration, China University of Petroleum (Beijing), Beijing 102249, China
Lianyong Feng: School of Business Administration, China University of Petroleum (Beijing), Beijing 102249, China
Alina Steblyanskaya: School of Business Administration, China University of Petroleum (Beijing), Beijing 102249, China
Anton Sokolov: Stroygazconsulting (SGC) Company, Tashakentskaya Street, St. Petersburg 196084, Russia
Nataliya Iskritskaya: The Laboratory of Examinations of licenses and license agreements, All-Russia Petroleum Research Exploration Institute (VNIGRI), Saint-Petersburg 191014, Russia

Energies, 2019, vol. 12, issue 2, 1-18

Abstract: Recently, energy analysis has been added to Russian gas companies’ annual reporting system. This new practice indicates that corporate reports are improving their analyses by addressing energy issue and the financial efficiency of energy production. However, the use of summary energy indicators is limited in these annual reports. In this paper we review the history of energy analysis in Russia from the early USSR period to today. Under the guidance of energy return on investment (EROI), we compare energy efficiency indicators with financial efficiency coefficients. The results show that the value of the return on cost of sales (ROCS) is negative in certain instances, while the value of the energy return on cost of sales (EROCS) is extremely high under the example of the Russian energy company JSC “YATEC.” Money-based indicator values (ROCS and return on fix assets (ROFA)) fluctuate with internal company financial management goals, and from the outside depending on market prices. Meanwhile energy-based values (EROCS) remain stable. Added financial analysis and energy analysis in companies’ annual statements will supplement each other in practice and will present the full picture for company efficiency analysis.

Keywords: energy analysis; energy efficiency indicators; energy return on the cost of sales (EROCS); energy return on fix assets (EROFA) (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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