FAQ

Please see below List of questions frequently asked by shareholders and other people visiting Gazprom Neft (GPN) Investor Relations Shareholders section:

General

  • What is the company’s registered address and number?

    5 Galernaya str., liter A, Saint-Petersburg, 190000, Russian Federation
    Tel.: +7 (495) 777-3152
    Fax: +7 (495) 777-3151

  • How many regions does GPN operate in?

    Gazprom Neft carries out its activities in Russia’s largest oil- and gas-bearing regions such as Khanty-Mansiysk Autonomous District, Yamalo-Nenets Autonomous District, Tomsk and Omsk Regions, and Chukotka Autonomous District. The Company’s major oil refineries are located in the Omsk, Moscow and Yaroslavl Regions. The Gazprom Neft’ distribution network operates countrywide.

Financial information

  • When does GPN report its financial results?

    GPN reports all its financial result under US GAAP every quarter.

  • What is GPN official accounting currency?

    GPN reports all its financial statements in US Dollars.

  • Where it is possible to get a copy of the latest financial results announced by GPN?

    You can download the latest Financial Accounts from Investor (Gazprom Neft Financials) section.

AGM

  • Does GPN have shareholder meetings?

    Each year the shareholders attend GPN Annual General Meeting (AGM). If there is a particularly important matter to decide that cannot wait until the next AGM, shareholders may be called to an Extraordinary General Meeting.

  • When is the next Annual General Meeting?

    The next Annual General Meeting will be held in June, 2009 (the exact date will be confirmed additionally).

  • What happens at the Annual General Meeting?

    The Annual General Meeting is the main shareholder event of the year. The meeting reviews GPN performance over the past year and provides an opportunity for shareholders to ask questions and vote on key issues. Shareholders have the opportunity to ask questions relating to the items on to the meeting agenda.

  • What are ADR’s?

    ADS’s are American depositary shares. They are traded on the world’s Stock Exchanges and are represented by ADR’s (American Depository Receipts). GPN has a sponsored level 1 ADR programme. The Bank of New York Mellon administers the ADR programme on behalf of GPN.

  • What are dividends?

    Dividends are a portion of the company's net profit distributed to shareholders proportionally, based on the number of shares they own.

  • Who decides on the payment of dividends?

    Decisions on the payment, size and form of payment of dividends are made at a general shareholders’ meeting in accordance with procedures laid out by the Russian federal law " Concerning Joint Stock Companies". Dividend totals should not exceed an amount recommended by the Board of Directors of the Company.

  • Who has the right to receive dividends?

    Shareholders listed in the corporate register on the eligibility deadline for participating in the shareholder meeting (ex-dividend date) at which dividends are approved, have the right to receive those dividends.

    The ex-dividend date for holders of ADRs with the right to receive declared dividends is set separately by the depository bank (Bank of New York).

  • How often are dividends paid?

    Dividends can by paid quarterly, six-monthly, or annually. The total amount of dividends is determined at the annual general shareholder meeting.

  • What is the Company’s long-term dividend policy?

    The Company plans to pay out as dividends a minimum of 15% of net profits received at the end of the reporting period.

  • How can I receive my dividend?

    Specialised registrar company CJSC “Specialised registrar - The registrar for gas industry” (CJSC "SR-DRAGa", 71/32 Novocheryomushkinskaya Str., Moscow, 117420) acts as the Company’s agent for payment of dividends. Dividends can be received in one of three ways: post office wire, bank transfer, or in cash from the registrar. The procedure chosen for receiving payment for each shareholder is indicated in the individual registration card maintained by the registrar. The method of dividend payment can be changed by contacting the registrar.

  • I was a shareholder as of the ex-dividend date. Why haven't I received my dividend yet?

    In some cases, the problem could be an incomplete registration card (without bank transfer information or tax identification number). If your shares are held by a nominee, it is possible that the delay is because the nominee has not properly notified the registrar about you notification late or incomplete). For clarification, you will need to contact the registrar: 71/32 Novocheryomushkinskaya Str., Moscow 117420; opening hours for shareholders: 9 a.m. – 1.00 p.m. on business days. Consultation and pass ordering for shareholders by phone: (495) 719-39-30; How to find: Novye Cheremushki Metro Station, first car from city centre, trolleybus 60, bus-stop " Novocheryomushkinskaya Str." Phone at +7 (495) 771-73-34.

  • I received my dividend by post office transfer and money was withheld for transfer fees. How can I avoid this expense?

    The postal system subtracts a fee from any money transfer. To avoid this cost, you can change your individual registration card and receive payment in cash at the registrar’s office, or by transfer to your personal bank account.

    In order to change your card, please contact the registrar.

  • Should I pay taxes? What are the rates?

    In accordance with the Tax Code of the Russian Federation, the issuer (company) should withhold individual income taxes from dividends. Therefore, you receive payment with taxes already deducted:
    - legal entities resident in the Russian Federation - 9%
    - non-resident legal entities - 15% (*)
    - individual residents of the Russian Federation - 9%
    - non-resident individuals - 15% (30% until 01.01.2008)

  • When filing a tax return, the amount of tax withheld from dividends must be indicated. How may I do that?

    You must contact either the Company or its registrar. They will provide you with a standard declaration on individual income.

  • How are taxes withheld for dividends paid to foreign companies?

    The standard tax rate for foreign legal entities is 15%. If your company is a resident of a country with which the Russian Federation has signed a double taxation avoidance treaty, the withholding rate can be reduced. Please contact the Securities Department of JSC Gazprom Neft’ at +7 (495) 961-13-24.

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