Анализ ЮКОСа. Деятельность, стратегии развития, история
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
Headquartered 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
In 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
The director.
The 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 to the 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 made on 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.
Share
(%) of YUKOS in deliveries on a home market:
|
1999 yr.
|
2000 yr.
|
Petroleums
|
15,8
|
18
|
Diesel fuel
|
14,7
|
19,2
|
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 quantity of 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 policy was 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.
The 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.
In turn, Microsoft will carry out
in 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 %.
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, to increase
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.
Results
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
1.
Yukos.
Research and analysis of structure of the company.
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