Annual General Meeting of Gazprom Neft

08 June 2012

The Annual General Meeting of Gazprom Neft was held on 8 June 2012 to approve the report and accounts for 2011.

Gazprom Neft remained among oil industry leaders in 2011, showing the fastest growth in operating profit (EBITDA) and the highest total shareholder return. Consolidated net profit was up 70% to USD 5.35 billion. The company’s operational results were also the best in its history and materially ahead of 2010. Production volume rose 8% to 57.3 million tonnes of oil equivalent and refining volume increased by nearly 7% to 40.5 million tonnes.

The AGM approved the Board’s proposal to pay a dividend of 22% of consolidated net profit or RUB 34.61 billion. This is equivalent to RUB 7.3 per share, an increase of 65% on the 2010 payout. The dividends will be paid to shareholders in accordance with current legislation.

The results of the elections to the Gazprom Neft Board of Directors were as follows:

  • Alexey Miller, Chairman of the Management Committee of OAO Gazprom and Deputy Chairman of the Board of Directors of OAO Gazprom;
  • Vladimir Alisov, First Deputy Head of Legal Department, OAO Gazprom;
  • Valery Golubev, Deputy Chairman of the Management Committee of OAO Gazprom;
  • Nikolay Dubik, Member of the Management Committee of OAO Gazprom and Head of Legal Department, OAO Gazprom;
  • Alexander Dyukov, Chairman of the Management Board, OAO Gazprom Neft;
  • Andrei Kruglov, Deputy Chairman of the Management Committee of OAO Gazprom and Head of the Department for Finance and Economics, OAO Gazprom
  • Aleksandr Mikheev, First Deputy Head of the Gas and Liquid Hydrocarbons Marketing and Processing Department, OAO Gazprom;
  • Elena Mikhailova, Member of the Management Committee of OAO Gazprom and Head of Asset Management and Corporate Relations Department, OAO Gazprom;
  • Kirill Seleznev, Member of the Management Committee of OAO Gazprom and Head of the Gas and Liquid Hydrocarbons Marketing and Processing Department, OAO Gazprom;
  • Vsevolod Cherepanov, Member of the Management Committee of OAO Gazprom and Head of the Gas, Gas Condensate and Oil Production Department, OAO Gazprom.

The shareholders also elected ZAO PricewaterhouseCoopers Audit as the company’s auditor for 2012 and considered a series of other issues on the annual meeting agenda.