Non-Financial Reporting as an Additional Tool for Evaluating the Effectiveness of Oil Companies

The article discusses the impact of non-financial reporting (NFR) on corporate transparency, focusing on how it assists interested users in evaluating the effectiveness of oil companies. The author argues that, through an integrated approach, company performance can be assessed in relation to approved strategies and objectives, requiring explanation of internal processes that influenced reported financial indicators to users. The non-financial statements of the largest Russian oil companies, publicly available in the National Register of Corporate Non-Financial Reports of the Russian Union of Industrialists and Entrepreneurs (RSPP), are analyzed. The study revealed that disclosure of non-financial information is a common practice and is conditioned both by companies’ membership in international sustainable development treaties and by societal pressure to conduct “responsible business”. It is established that the emphasis in reporting is placed both on the efficiency of production activities, as well as on concern for the environment, social responsibility, the amount of taxes paid to the budget and the company’s contribution to the well-being of the country. The methods of analysis, comparison and description of the structure of non-financial reporting created by oil companies became the methodological tools of the research.