Creating an Energy Analysis Concept for Oil and Gas Companies: The Case of the Yakutiya Company in Russia
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 indic...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2019-01-01
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| Series: | Energies |
| Subjects: | |
| Online Access: | http://www.mdpi.com/1996-1073/12/2/268 |
| _version_ | 1811279086234894336 |
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| author | Jun Yan Lianyong Feng Alina Steblyanskaya Anton Sokolov Nataliya Iskritskaya |
| author_facet | Jun Yan Lianyong Feng Alina Steblyanskaya Anton Sokolov Nataliya Iskritskaya |
| author_sort | Jun Yan |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-04-13T00:47:23Z |
| format | Article |
| id | doaj.art-213834bbe00e499c96c7ab67f2237d55 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-04-13T00:47:23Z |
| publishDate | 2019-01-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-213834bbe00e499c96c7ab67f2237d552022-12-22T03:09:57ZengMDPI AGEnergies1996-10732019-01-0112226810.3390/en12020268en12020268Creating an Energy Analysis Concept for Oil and Gas Companies: The Case of the Yakutiya Company in RussiaJun Yan0Lianyong Feng1Alina Steblyanskaya2Anton Sokolov3Nataliya Iskritskaya4School of Business Administration, China University of Petroleum (Beijing), Beijing 102249, ChinaSchool of Business Administration, China University of Petroleum (Beijing), Beijing 102249, ChinaSchool of Business Administration, China University of Petroleum (Beijing), Beijing 102249, ChinaStroygazconsulting (SGC) Company, Tashakentskaya Street, St. Petersburg 196084, RussiaThe Laboratory of Examinations of licenses and license agreements, All-Russia Petroleum Research Exploration Institute (VNIGRI), Saint-Petersburg 191014, RussiaRecently, 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.http://www.mdpi.com/1996-1073/12/2/268energy analysisenergy efficiency indicatorsenergy return on the cost of sales (EROCS)energy return on fix assets (EROFA) |
| spellingShingle | Jun Yan Lianyong Feng Alina Steblyanskaya Anton Sokolov Nataliya Iskritskaya Creating an Energy Analysis Concept for Oil and Gas Companies: The Case of the Yakutiya Company in Russia Energies energy analysis energy efficiency indicators energy return on the cost of sales (EROCS) energy return on fix assets (EROFA) |
| title | Creating an Energy Analysis Concept for Oil and Gas Companies: The Case of the Yakutiya Company in Russia |
| title_full | Creating an Energy Analysis Concept for Oil and Gas Companies: The Case of the Yakutiya Company in Russia |
| title_fullStr | Creating an Energy Analysis Concept for Oil and Gas Companies: The Case of the Yakutiya Company in Russia |
| title_full_unstemmed | Creating an Energy Analysis Concept for Oil and Gas Companies: The Case of the Yakutiya Company in Russia |
| title_short | Creating an Energy Analysis Concept for Oil and Gas Companies: The Case of the Yakutiya Company in Russia |
| title_sort | creating an energy analysis concept for oil and gas companies the case of the yakutiya company in russia |
| topic | energy analysis energy efficiency indicators energy return on the cost of sales (EROCS) energy return on fix assets (EROFA) |
| url | http://www.mdpi.com/1996-1073/12/2/268 |
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