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2014-03-28 08:05:00

GAZPROM NEFT'S 2013

GAZPROM NEFT'S 2013

GN.  Gazprom Neft's Board of Directors has reviewed the Company's 2013 investment programme and budget. Gazprom Neft's 2013 investment programme amounted to nearly RUB 219 billion. In 2013, the Company produced 62.3 million tonnes of oil equivalent, 4.3% more than in the previous year. In 2013, the Company switched all of its refineries to the production of Euro-5, a fuel of the highest environmental standard, and thus completed its oil product quality improvement programme over two years ahead of the timeframe set by technical regulations. The Company will now focus on increasing its refining yield to 94% in a few years' time, which will bring the parameters of its plants in line with the leading Western refineries. Significant growth (by 4.8% compared to 2012) has been achieved in the premium product sales segment (small wholesale and filling station network, bunkering, aviation fuel, and lubricants sales); oil product sales totalled 24 million tonnes.
2013 results show that Gazprom Neft remains one of the leaders in the oil industry, ranked first in terms of operating profit (EBITDA), growth dynamics and net profit growth dynamics. According to the Company's financial statements, prepared according to IFRS standards, EBITDA for 2013 amounted to RUB 336.8 billion and showed an increase of 4.2%, while net profit totalled RUB 177.9 billion.

Based on the results for 2013, the Board of Directors has recommended that the AGM pay out dividends to the amount of 25% of the consolidated net profits calculated under IFRS, which amounts to RUB 44.43 billion or RUB 9.38 per ordinary share (taking into account the dividends that were paid in the first half of the fiscal year 2013). If approved by shareholders, dividend payments made for 2013 will exceed that for 2012 by nearly RUB 380 million. 23 June, 2014 has been proposed as the dividend record date.

By decision of the Board of Directors, Gazprom Neft's Annual General Meeting of Shareholders will be held on 6 June, 2014, at 11:00 am at OAO Gazprom's central office in Moscow (16 Nametkina Street). The list of persons entitled to participate in Gazprom Neft's Annual General Meeting of Shareholders will be produced from the register of holders of registered securities as of the end of the trading day on 18 April, 2014.

Tags: OIL, GAZPROM