Irkutsk Oil was included in the list of Russian Top-30 of fastest-growing companies and received the honorary second place in this list. This annual rating is organized by the most prominent Russian business news agency RosBusinessConsulting (RBC).
The journalists who conducted this research approved the benevolent influence that fast-growing companies hold over old industries, blossoming sectors, and new markets. It is very positive that young fast-growing companies are capable to influence industries and sectors and create new markets in the current economic environment. Therefore, it was a surprise that Irkutsk Oil became the second in the RBC's Top-30 as oil and gas industry is traditionally considered to be divided between the state giants and majors. Impressive dynamics of INK development is mainly explained by building the ESPO and ESPO-2 pipelines in 2009-12 which boosted development of the region. Still, INK’s operating results were brought to attention of the panel as during the previous three years the company's accumulated production of crude oil and condensate increased by six times and the revenues by 9 times.
This year’s rating assembling differed from the previous years as RBC changed selection criteria from the company size to the overall business growth, specifically the three previous consecutive years. During selection process companies were tested for a general organic growth, excluding any company that may have expanded its growth through distorting events such as one-time large contract or a surge attributed to takeover/acquisition. Based on the RBC's study, the last three years showed that over 1,200 domestic companies doubling their revenues. Hence, RBC's analysts use these standards to put in the current rating a shortlist of the 30 most fastest-growing companies.
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