10. INVENTORIES

Inventories as of December 31, 2013, December 31, 2012 and as of January 1, 2012 consist of the following:

RUB millions

December 31, 2013

December 31, 2012

January 1, 2012

Crude oil and gas

20,328

18,117

19,675

Petroleum products and petrochemicals

44,836

48,731

35,719

Materials and supplies

21,280

21,714

21,506

Other

6,359

5,126

4,376

Less provision for impairment

(2,580)

(2,474)

(3,790)

TOTAL INVENTORY

90,223

91,214

77,486

As part of the management of crude inventory, the Group may enter transactions to buy and sell crude oil from the same counterparty. Such transactions are referred to as buy/sell transactions and are undertaken in order to reduce transportation costs or to obtain alternate quality grades of crude oil. The total value of buy / sell transactions undertaken for the years ended December 31 is as follows:

RUB millions

2013

2012

Buy/sell crude oil transactions for the year ended December 31

64,281

76,912

Notes in Consolidated Statements:

Consolidated Statement of Financial Position