Press releases - https://www.rosneft.com/press/releases https://www.rosneft.com/press/releases ru-ru rss_generator Fri, 21 Jul 2023 08:28:22 +0300 /media/img/logo.png / <p>Rosneft Oil Company has held its Annual General Meeting of Shareholders, where it has been decided to approve the payment of dividends for 2022 in the amount of 17.97 roubles per share.</p> Fri, 30 Jun 2023 17:54:38 +0300 https://www.rosneft.com/press/releases/item/214895/ <p>Rosneft Oil Company has held its Annual General Meeting of Shareholders, where it has been decided to approve the payment of dividends for 2022 in the amount of 17.97 roubles per share.</p> <p>The total 2022 dividend per share including dividends for 1H 2022 is 38.36 roubles and the total dividends distribution amounts to 406.5 bln roubles. This corresponds to 50% of IFRS net income for 2022 attributable to Rosneft Oil Company's shareholders.</p> <p>The shareholders have elected a new Board of Directors consisting of 11 members:</p> <ul> <li>Andrey I. Akimov &ndash; Chairman of the Management Board, Deputy Chairman of the Board of Directors, Gazprombank (Joint Stock Company);</li> <li>Pedro A. Aquino Jr. &ndash; President&ndash;Chief Executive Officer of Oil &amp; Petroleum International Resources Ltd., Independent Director (the Republic of the Philippines);</li> <li>Faisal Alsuwaidi &ndash; Representative of Qatar Investment Authority (the State of Qatar);</li> <li>Hamad Rashid Al-Mohannadi &ndash; Representative of Qatar Investment Authority (the State of Qatar);</li> <li>Mohammed Bin Saleh Al-Sada &ndash; Chairman of the Board of Trustees of Doha University of Science and Technology, member of the Gulf Supreme Council Advisory Board, Independent Director (the State of Qatar);</li> <li>Victor G. Martynov &ndash; Rector, Gubkin State University of Oil and Gas, Independent Director;</li> <li>Alexander D. Nekipelov &ndash; Academician of the Russian Academy of Sciences, Independent Director;</li> <li>Alexander V. Novak &ndash; Deputy Chairman of the Government of the Russian Federation;</li> <li>Maxim S. Oreshkin &ndash; Aide to the President of the Russian Federation;</li> <li>Govind Kottis Satish &ndash; Managing Director, Value Prolific Consulting Services Pvt. Ltd. (ValPro), Independent Director (India);</li> <li>Igor I. Sechin &ndash; Chief Executive Officer, Chairman of the Management Board of Rosneft.</li> </ul> <p>Mohammed Bin Saleh Al-Sada has been elected Chairman of Rosneft Oil Company Board of Directors. He has 40 years of experience in the energy sector and is currently Chairman of the Board of Trustees of the Doha University of Science and Technology.</p> <p>Al-Sada served as Qatar's Minister of State for Energy and Industry from 2007 through 2011, and as Qatar's Minister of Energy and Industry and Chairman of the Board of Qatar Petroleum (now QatarEnergy) from 2011 through 2018. He also chaired the Boards of Directors and governing bodies of a number of the company's subsidiaries, including LNG producer RasGas, one of the world's leading gas transportation companies Nakilat, trading companies Qatar International Petroleum Marketing and Qatar Chemical and Petrochemical Marketing and Distribution Company, petrochemical company Q-Chem, steel manufacturer Qatar Steel, electric power company Qatar General Electricity &amp; Water Corporation, etc.</p> <p>The Annual General Meeting of Shareholders has also approved the Annual Report and Financial Statements and decided on the election of a Revision Commission consisting of five members.</p> <p align="right"><b>Information and Advertising Department</b><b><br /></b><b>Rosneft</b><b><br /></b><b>&nbsp;June 30, 2023</b></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>Rosneft and one of the leading China's higher schools, Tsinghua University, signed a Memorandum of Cooperation in the Research and Development at the XXVI St. Petersburg International Economic Forum.&nbsp;</p> Fri, 16 Jun 2023 16:45:59 +0300 https://www.rosneft.com/press/releases/item/214755/ <p>Rosneft and one of the leading China's higher schools, Tsinghua University, signed a Memorandum of Cooperation in the Research and Development at the XXVI St. Petersburg International Economic Forum.&nbsp;</p> <p>The implementation of advanced approaches and new technologies is one of the key areas of the Rosneft-2030 Strategy. The Company pays special attention to innovative development, defining technological leadership as the key factor of competitiveness in the oil market.</p> <p>The Memorandum implies scientific research to develop technologies related to exploration and production, oil refining, petrochemistry, and renewable energy sources. Joint research in carbon management will also become one of the key cooperation areas. In particular, this concerns technologies for emission reduction and greenhouse gas absorption, energy efficiency improvement, and also capture, utilization and storage of carbon dioxide and methane.</p> <p>The cooperation between Rosneft and Tsinghua University will contribute to the strategic goals of the Company to reduce emissions and mitigate environmental footprint.</p> <p>&nbsp;Rosneft was the first in the oil and gas industry that set the goal to achieve&nbsp; carbon neutrality by 2050 and included it into its Rosneft-2030 Strategy‑. The Strategy also announces short- and mid-term outlooks of the climate agenda: 5% cut-down of absolute greenhouse gas emissions by 2025;&nbsp; cut-down of methane emissions to less than 0.2% by 2030; zero routine flaring of associated petroleum gas; decrease of specific greenhouse gas emissions in Upstream to less than 20 kg of CO2 per boe; over 25% reduction of absolute greenhouse gas emissions by 2035.</p> <div style="border-left: #7f7f7f 5px solid; background: #f3f3f3; margin-left: 15px; padding: 16px;"> <p style="border-bottom: #c2c2c2 1px dashed; padding-bottom: 7px; margin-bottom: 10px;"><strong>For reference:</strong></p> <p>Tsinghua University is one of the leading China's universities, it was established in 1911. It is included in League C9 representing nine Chinese universities. Tsinghua University ranks first in the list of the best China's universities and enters the list of 100 best universities of the world on a regular basis.</p> <p>Among the graduates of Tsinghua University are leading scientists, people of art and politicians including Chinese President Xi Jinping and his predecessor Hu Jintao.</p> <p>Rosneft and Tsinghua University cooperate in the training of personnel with the engagement of the best Russian partner universities including Ufa State Oil Technical University and Moscow State Institute of International Relations (University) of the MFA of Russia (MGIMO).</p> </div> <p align="right"><b>Information and Advertising Department</b><b><br /></b><b>Rosneft</b><b><br /></b><b>&nbsp;June 16, 2023</b></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>Rosneft and the Moscow City Tourism Committee have signed a Cooperation Agreement at the XXVI St. Petersburg International Economic Forum.</p> Fri, 16 Jun 2023 15:40:06 +0300 https://www.rosneft.com/press/releases/item/214751/ <p>Rosneft and the Moscow City Tourism Committee have signed a Cooperation Agreement at the XXVI St. Petersburg International Economic Forum.</p> <p>The document provides for cooperation between the parties for the integrated development of domestic tourism, including autotourism, promotion of the Moscow tourist potential at the facilities of the Rosneft filling stations network.</p> <p>Rosneft and Mostourism will assist in the emergence and development of tourist routes and car tours from various regions of Russia to tourist and cultural sites of the capital. In addition, it is planned to hold joint events aimed at improving the overall level of comfort for tourists at Rosneft&rsquo;s filling stations.</p> <div style="border-left: #7f7f7f 5px solid; background: #f3f3f3; margin-left: 15px; padding: 16px;"> <p style="border-bottom: #c2c2c2 1px dashed; padding-bottom: 7px; margin-bottom: 10px;"><strong>For reference:</strong></p> <p>The retail network of Rosneft is the largest in the Russian Federation in terms of geographical coverage and the number of stations, while the Rosneft's brand is one of the Russia's leaders in terms of awareness and fuel quality. In all, Rosneft manages about 3,000 filling stations in Russia, Belarus, Kirghizia and Abkhazia.</p> <p>Stores, cafes, pharmacies and dry clean vending machines operate at the retail sites. The Company also develops a new area of customer services at the retail sites: food-trucks (mobile sales outlets). Food-trucks are available in Moscow, St. Petersburg and in other regions of the retail network presence.</p> </div> <p align="right"><b>Information and Advertisement Department <br />Rosneft<br />June 16, 2023</b></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>Igor Sechin, Chief Executive Officer of Rosneft, and Alexander Moor, Governor of Tyumen Region, signed a Cooperation Agreement between the Company and the Region at the XXVI St. Petersburg International Economic Forum.</p> Fri, 16 Jun 2023 12:27:58 +0300 https://www.rosneft.com/press/releases/item/214747/ <p>Igor Sechin, Chief Executive Officer of Rosneft, and Alexander Moor, Governor of Tyumen Region, signed a Cooperation Agreement between the Company and the Region at the XXVI St. Petersburg International Economic Forum.</p> <p>The agreement is aimed at the implementation of industrial and social programs that contribute to the integrated development of Tyumen region, the creation of economic, legal and organizational conditions to implement projects that are strategically important for the region's economy.</p> <p>Among the key areas of cooperation are the creation of favorable conditions for the development of the mineral resource base and the production of hard-to-recover hydrocarbon reserves, the involvement of industrial enterprises of the Tyumen Region in the production and logistics chains of the Company, the provision of the region's consumers with high-quality petroleum products, and the promotion of the energy potential development in Tyumen Region. The parties also intend to implement regional socio-economic programs and nature protection projects.</p> <p>Cooperation between Rosneft and the Government of Tyumen Region will further strengthen social stability in the region.</p> <div style="border-left: #7f7f7f 5px solid; background: #f3f3f3; margin-left: 15px; padding: 16px;"> <p style="border-bottom: #c2c2c2 1px dashed; padding-bottom: 7px; margin-bottom: 10px;"><strong>For reference:</strong></p> <p>Major production enterprises of Rosneft operate in Tyumen Region: RN-Uvatneftegaz and Tyumenneftegaz, as well as a corporate research and design institute.</p> </div> <p align="right"><b>Information and Advertisement Department <br />Rosneft<br />June 16, 2023</b></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>Igor Sechin, Chief Executive Officer of Rosneft, and Natalya Komarova, Governor of Khanty-Mansi Autonomous District &ndash; Yugra&nbsp; signed a Cooperation Agreement between the Company and the Government of the autonomous district at the XXVI St. Petersburg International Economic Forum.</p> Fri, 16 Jun 2023 11:09:00 +0300 https://www.rosneft.com/press/releases/item/214743/ <p>Igor Sechin, Chief Executive Officer of Rosneft, and Natalya Komarova, Governor of Khanty-Mansi Autonomous District &ndash; Yugra&nbsp; signed a Cooperation Agreement between the Company and the Government of the autonomous district at the XXVI St. Petersburg International Economic Forum.</p> <p>The Agreement provides for cooperation of the parties in the implementation of industrial and social programs contributing to the comprehensive development of the autonomous district. The document is aimed at the creation of favorable economic, legal and organizational conditions for business activities in the region.</p> <p>Under the Agreement, Rosneft will provide assistance to the development of the Yugra's industrial and scientific potential by engaging local enterprises on a tender basis, and also support events and projects in the social area.</p> <p>The Company and the Government of Yugra intend to join efforts in the implementation of investment projects, exploration efficiency improvement in the district, creation of favorable conditions for the subsurface study, implementation of high technologies in oil and gas exploration, production, transportation and refining, and provision of high-quality oil products to the consumers.</p> <p>The parties of the agreement have agreed to develop cooperation in the field of environmental protection, including the preservation of valuable bioresources and the fire safety assurance in the autonomous district.</p> <div style="border-left: #7f7f7f 5px solid; background: #f3f3f3; margin-left: 15px; padding: 16px;"> <p style="border-bottom: #c2c2c2 1px dashed; padding-bottom: 7px; margin-bottom: 10px;"><strong>For reference:</strong></p> <p>Rosneft's largest producing subsidiaries operate in the region: RN-Yuganskneftegaz, Samotlorneftegaz, RN-Nyaganneftegaz, and Kondaneft. Servicing, sales, and logistics entities of Rosneft also operate in the region.</p> </div> <p align="right"><b>Information and Advertisement Department <br />Rosneft<br />June 16, 2023</b></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>Rosneft and the Government of Krasnoyarsk Territory have signed a Cooperation Agreement at the XXVI St. Petersburg International Economic Forum.</p> Fri, 16 Jun 2023 10:29:34 +0300 https://www.rosneft.com/press/releases/item/214739/ <p>Rosneft and the Government of Krasnoyarsk Territory have signed a Cooperation Agreement at the XXVI St. Petersburg International Economic Forum.</p> <p>The document was signed by Rosneft Chief Executive Officer Igor Sechin, and Acting Governor of Krasnoyarsk Territory Mikhail Kotyukov.</p> <p>The document sets out the key areas of cooperation suggesting the implementation of industrial, financial and social programs in the region, as well as the creation of favorable conditions for hydrocarbons exploration and production.</p> <p>The parties agreed to cooperate in pursuance of Rosneft's strategic projects. Among them: the Company's flagship project Vostok Oil , the Yurubcheno-Tokhomskoye and Kuyumbinskoye fields, as well as the Achinsk Oil Refinery upgrade project.</p> <p>Under the Agreement, Rosneft and the Government of the Krasnoyarsk Territory also intend to implement joint projects in the area of environmental protection. The key in this area is the unique forest-climatic project already initiated by the parties and approved by the President of Russia, which is designed to unlock the region's potential for natural absorption of greenhouse gases.</p> <p>In accordance with the Agreement, Rosneft will also provide assistance in the socio-economic development of the region, strengthening social stability, improving the quality and availability of education, and implementing programs for the staffing of investment projects.</p> <p>The document provides for cooperation between the parties in the development of the industrial and scientific potential of the region and import substitution through the involvement of the region's enterprises as contractors and suppliers of the Company.</p> <div style="border-left: #7f7f7f 5px solid; background: #f3f3f3; margin-left: 15px; padding: 16px;"> <p style="border-bottom: #c2c2c2 1px dashed; padding-bottom: 7px; margin-bottom: 10px;"><strong>For reference:</strong></p> <p>Krasnoyarsk Territory is a strategic region of Rosneft presence. In the region, the Company is implementing the largest investment project in the global oil and gas industry, Vostok Oil. The resource base of the project exceeds 6.5 billion tons of premium-quality sweet crude oil.</p> <p>Large enterprises of the Company operate in the Krasnoyarsk Territory: RN-Vankor, Vostsibneftegaz, Slavneft-Krasnoyarskneftegaz (a joint venture with Gazprom Neft), Achinsk Oil Refinery, and also service, marketing and logistics enterprises of the Company.</p> </div> <p align="right"><b>Information and Advertisement Department <br />Rosneft<br />June 16, 2023</b></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>On 14 June 2023, Energy Intelligence published a report entitled &laquo;Pakistan Buys Russian Oil Via Convoluted Route&raquo;, which contains provocative information about Russian oil allegedly being &laquo;semi-refined&raquo; at India&rsquo;s Vadinar refinery for onward shipment to Pakistan. This report is an ideological sabotage aimed against India&rsquo;s energy security.</p> Thu, 15 Jun 2023 13:03:59 +0300 https://www.rosneft.com/press/releases/item/214731/ <p class="Normal0">On 14 June 2023, Energy Intelligence published a report entitled &laquo;Pakistan Buys Russian Oil Via Convoluted Route&raquo;, which contains provocative information about Russian oil allegedly being &laquo;semi-refined&raquo; at India&rsquo;s Vadinar refinery for onward shipment to Pakistan. This report is an ideological sabotage aimed against India&rsquo;s energy security.</p> <p class="Normal0">The strong partnership between Russia and India irritates the US government, prompting this report.</p> <p class="Normal0">Rosneft has nothing to do with supplying oil to Pakistan.</p> <p class="Normal0">Rosneft is outraged by this defamatory material and demands that the report be removed from the website and a refutation published. The Company warns of liability for disseminating false information and intends to take legal action to protect its business reputation.</p> <p>Rosneft and the Russian Ministry of Economic Development have signed a Cooperation Agreement at the XXVI St. Petersburg International Economic Forum</p> Thu, 15 Jun 2023 12:51:00 +0300 https://www.rosneft.com/press/releases/item/214733/ <p>Rosneft and the Russian Ministry of Economic Development have signed a Cooperation Agreement at the XXVI St. Petersburg International Economic Forum.</p> <p>The document was signed by Rosneft CEO Igor Sechin and Russian Minister of Economic Development Maksim Reshetnikov.</p> <p>Under the agreement, the parties intend to continue cooperation in a number of areas, including the support of international economic activity of the Company abroad, elaboration of initiatives to improve the customs and tariff policy and the regulation of investment activities pursued by the natural monopolies, as well as determination of measures to counter illegal sanctions.</p> <p>In accordance with the Agreement, the parties also plan to work in an integrated manner in the field of climate change, etc.</p> <p align="right"><b>Information and Advertisement Department <br />Rosneft<br />June 15, 2023</b></p> <p><i>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</i></p> <p>During the XXVI St. Petersburg International Economic Forum Rosneft signed cooperation agreements with Venezuelan companies regarding the supply of grain coffee and cocoa, and also chocolate and other products for its chain of retail sites.</p> Thu, 15 Jun 2023 11:34:00 +0300 https://www.rosneft.com/press/releases/item/214725/ <p>During the XXVI St. Petersburg International Economic Forum Rosneft signed cooperation agreements with Venezuelan companies regarding the supply of grain coffee and cocoa, and also chocolate and other products for its chain of retail sites.</p> <p>Since 2020, Rosneft has been developing a network of retail sites in a new format with cafe under own brand "Зерно" where special attention is paid to the quality and the taste of freshly brewed coffee. Along with the wide range of drinks and snacks, more than 1.5 thousand goods are also presented on the shop floor of the retail sites for the clients' convenience.</p> <p>Coffee beans from Venezuela are considered among the best in the world in terms of quality and taste. This is related not only to the preserved national traditions of coffee farming, but also to the unique natural settings &ndash; combination of the climate features and rich soil of high mountain areas creates an ideal environment for coffee beans harvesting.</p> <p>Venezuelan coffee, due to the limited export scopes, is not common in the Russian market which, along with its unique flavor profile, makes this crude product exclusive.</p> <p>The agricultural sector of Venezuela is also famous for its rare and exotic sorts of cacao beans. Their specific flavor and taste properties make it possible to produce chocolate which differs from the one produced in other countries by exceptionally deep and saturated taste.</p> <div style="border-left: #7f7f7f 5px solid; background: #f3f3f3; margin-left: 15px; padding: 16px;"> <p style="border-bottom: #c2c2c2 1px dashed; padding-bottom: 7px; margin-bottom: 10px;"><strong>For reference:</strong></p> <p>The retail network of Rosneft is the largest in the Russian Federation in terms of geographical coverage and the number of stations, while the Rosneft's brand is one of the Russia's leaders in terms of awareness and fuel quality. In all, Rosneft manages about 3,000 filling stations in Russia, Belarus, Kirghizia and Abkhazia.</p> <p>The development of tying products offer and services at the retail sites is one of the key priorities of Rosneft in retail business. The Company expands various types of services for quick and comfortable customer care, it implements up-to-date digital technologies.</p> <p>Stores, cafes, pharmacies and dry clean vending machines operate at the retail sites. The Company also develops a new area of customer services at the retail sites: food-trucks (mobile sales outlets). Food-trucks are available in Moscow, St. Petersburg and in other regions of the retail network presence.</p> </div> <p align="right"><b>Information and Advertisement Department <br />Rosneft<br />June 15, 2023</b></p> <p><i>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</i></p> <p>Under the Saint-Petersburg International Economic Forum, Rosneft Oil Company and &lsquo;Innopraktika&rsquo; non-state development institute have signed an Agreement on continuation of developing the digital technologies of core studies</p> Wed, 14 Jun 2023 17:53:19 +0300 https://www.rosneft.com/press/releases/item/214717/ <p>Under the Saint-Petersburg International Economic Forum, Rosneft Oil Company and &lsquo;Innopraktika&rsquo; non-state development institute have signed an Agreement on continuation of developing the digital technologies of core studies. This Agreement stipulates the expansion of the unique &lsquo;RN-Digital Core&rsquo; software complex.</p> <p>The &lsquo;RN-Digital Core&rsquo; software was created by the experts from the &lsquo;Tyumen Petroleum Scientific Center&rsquo; (part of Rosneft&rsquo;s science and projects block) jointly with the &lsquo;Innopraktika&rsquo; company specialists. This software is unique and has no analogues in Russia and around the globe. Mathematical modeling of core properties provides for the acquisition of data for predicting the hydrocarbons content in a bed, building its hydrodynamic model and selecting the most efficient development methods for enhanced oil recovery.</p> <p>The updated version of the &lsquo;RN-Digital Core&rsquo; software will make it possible to simultaneously model the flows of oil, gas and water in the cores and directly calculate one of the most important rock properties &ndash; permeability of the three-phase system. Such results are practically impossible to achieve during physical experiments with the cores.</p> <p>Rosneft is the first company in Russia, which successfully creates the science-intensive software, covering all the key processes in the area of oil and gas production. The company&rsquo;s IT-solutions are applied for resolving the production-related challenges in the area of geology, engineering, development and operation of fields. These solutions exceed foreign analogues in terms of speed, tackled challenges, application of up-to-date algorithms and user-friendly interface.</p> <p align="right"><strong>Information and Advertising Department<br /> Rosneft<br /> June 14, 2023</strong></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>During the XXVI St. Petersburg International Economic Forum, Rosneft, Innopraktika Non-Government Institute of Development and AO Rosgeo entered into R&amp;D contracts for the exploration of Russia's continental shelf</p> Wed, 14 Jun 2023 17:09:34 +0300 https://www.rosneft.com/press/releases/item/214715/ <p>During the XXVI St. Petersburg International Economic Forum, Rosneft, Innopraktika Non-Government Institute of Development and AO Rosgeo entered into R&amp;D contracts for the exploration of Russia's continental shelf.</p> <p>According to the contracts, shallow stratigraphic wells will be drilled in the East Siberian Sea. The work will be done using the domestic drill ship "Bavenit" owned by Rosgeologia and equipped with the newest Russian equipment to meet the tasks of the expedition.</p> <p>The purpose of the research expedition is core sampling to extract valuable rock materials serving as the direct source of subsurface data that is required to specify the age (stratification) and composition of rocks and sedimentation environment of the East Arctic shelf and predict the status of the regions' petroleum systems. Comprehensive laboratory and analytical studies as well as desk researches will be performed by Innopraktika at the Geologic Faculty of Moscow State University.</p> <div style="border-left: #7f7f7f 5px solid; background: #f3f3f3; margin-left: 15px; padding: 16px;"> <p style="border-bottom: #c2c2c2 1px dashed; padding-bottom: 7px; margin-bottom: 10px;"><strong>For reference:</strong></p> <p>The research stratigraphic drilling project in the Russian northern seas started in 2020. During the research expedition of Rosneft, shallow wells were drilled in the north of the Kara Sea &ndash; first ever in the exploration of the Russia's continental shelf. The Company continued its studies in the Laptev Sea in 2021, and in the Chukchi Sea in 2022. Analysis of the obtained rocks will help the scientists build a reliable geological model of the whole Arctic region.</p> </div> <p align="right"><strong>Information and Advertising Department<br /> Rosneft<br /> June 14, 2023</strong></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>Under the Saint-Petersburg International Economic Forum, Rosneft Oil Company and &lsquo;Innopraktika&rsquo; non-state development institute have signed an Agreement on building the maps of geologic targets in the territory of Russia, which are potentially suitable for ecologically clean CO2 storage</p> Wed, 14 Jun 2023 16:06:46 +0300 https://www.rosneft.com/press/releases/item/214711/ <p>Under the Saint-Petersburg International Economic Forum, Rosneft Oil Company and &lsquo;Innopraktika&rsquo; non-state development institute have signed an Agreement on building the maps of geologic targets in the territory of Russia, which are potentially suitable for ecologically clean CO2 storage. These will include the coal and salt beds, aquifers, magmatic rocks and depleted oil and gas reservoirs.</p> <p>Specialists from the Geology Department of the MSU named after Lomonosov and experts from Russia&rsquo;s leading scientific centers shall also take part in this project.</p> <p>The related results of this work shall serve as the basis for implementing the solutions for greenhouse gases emissions reduction with the production and processing blocks of the Company. &nbsp;</p> <p>Rosneft was the first company in the Russian petroleum industry to set a goal on achieving the net zero by 2050 and has included this goal into its Rosneft-2030 strategy. This strategy formulates the short- and medium-term horizons of the climate agenda: 5% reduction of absolute greenhouse gases emissions by 2025; reduction of methane emissions to the level below 0.2% by 2030; zero associated petroleum gas routine flaring; reduction of specific emissions of greenhouse gases in &lsquo;exploration and production&rsquo; segment to the level below 20kg of СО2/boe; reduction of absolute emissions of greenhouse gases by more than 25% by 2035.</p> <p>Over the last 3 years (2020 through 2022), the Company&rsquo;s &lsquo;green&rsquo; investments, intended to increase the business&rsquo;s ecological performance and minimize the environmental impact, amounted to circa 156 billion RUR.</p> <p align="right"><strong>Information and Advertising Department<br /> Rosneft<br /> June 14, 2023</strong></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>During the XXVI St. Petersburg International Economic Forum Rosneft and the Russian Federal Space Agency (Roscosmos) entered into a cooperation agreement suggesting to apply satellite systems in the operations of the Company</p> Wed, 14 Jun 2023 15:38:41 +0300 https://www.rosneft.com/press/releases/item/214705/ <p>During the XXVI St. Petersburg International Economic Forum Rosneft and the Russian Federal Space Agency (Roscosmos) entered into a cooperation agreement suggesting to apply satellite systems in the operations of the Company.</p> <p>The document envisages cooperation in such areas as geotechnical monitoring of facilities, and also signal, TV and radio communications support for the operating sites of Rosneft. Cooperation is also supposed in the development of distant methods of Earth study and observation, detection of GHG emissions, including methane.</p> <p>Cooperation with Roscosmos expands the Rosneft capabilities in further study and monitoring of the country's northern regions to implement the unique high-tech Vostok Oil project. As part of the cooperation, Earth remote sensing services are of certain interest as they can provide all-weather imaging of the territories for hydrometeorological, geotechnical, geodynamical and environmental monitoring.</p> <p>The Cooperation Agreement with Roscosmos implies research, development and engineering activities that are required to implement the projects in industrial safety, logistics and freight forwarding, providing communications and Broad Band Internet for the remotest assets of the Company which is especially important for the Vostok Oil project in the north of Krasnoyarsk Territory.&nbsp;</p> <p>The Company is also interested in the data related to the definition of the Russian forests capacity to absorb carbon and control of the fire environment, which can be used within the forest-and-climate projects presented by Rosneft during SPIEF-2022.</p> <p>To effectively implement the agreement, the parties intend to establish joint working groups and develop a detailed action plan aimed to develop the R&amp;D and operating capacity of Rosneft.</p> <div style="border-left: #7f7f7f 5px solid; background: #f3f3f3; margin-left: 15px; padding: 16px;"> <p style="border-bottom: #c2c2c2 1px dashed; padding-bottom: 7px; margin-bottom: 10px;"><strong>For reference:</strong></p> <p>Vostok Oil is the largest investment project of the global oil and gas industry being implemented in the north of Krasnoyarsk Territory. The resource base of the project exceeds 6.5 billion tons of premium-quality sweet crude oil.</p> <p>A competitive advantage of the Project lies in its close vicinity to the Northern Sea Route. Execution of this Project secures delivery of the target set by the President of Russia on increasing the freight traffic of the Northern Sea Route to 80 million tons by 2024.</p> <p>Vostok Oil is one of the most ecological projects. Even at the design stage, the application of advanced environmental protection technologies is envisaged &ndash; from the well drilling stage to specialized design of oil pipelines and tankers, which will be used to export oil. The design solutions provide for full utilization of associated petroleum gas. The project will use, among other things, wind generation for power supply to the Vostok Oil facilities.</p> </div> <p align="right"><strong>Information and Advertising Department<br /> Rosneft<br /> June 14, 2023</strong></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>PRESS RELEASE ROSNEFT OIL COMPANY Q1 2023 IFRS RESULTS</p> Wed, 31 May 2023 09:53:59 +0300 https://www.rosneft.com/press/releases/item/214567/ <ul> <li>Q1&nbsp;2023 HYDROCARBON PRODUCTION INCREASED BY 1.3% QOQ TO 5.6 MLN BOE PER DAY</li> <li>Q1&nbsp;2023 PRODUCTION OF LIQUID HYDROCARBONS INCREASED BY 0.8% QOQ EXCEEDING 4.0 MILLION BARRELS PER DAY</li> <li>Q1&nbsp;2023 GAS PRODUCTION INCREASED BY 2.7% QOQ TO 1.5&nbsp;MLN BOE PER DAY</li> <li>Q1&nbsp;2023 EBITDA INCREASED BY 25% QOQ TO RUB 672 BLN. <br />THE EBITDA MARGIN REACHED 36.7%</li> <li>Q1&nbsp;2023 NET INCOME ATTRIBUTABLE TO ROSNEFT SHAREHOLDERS INCREASED BY 46% QOQ REACHING RUB 323&nbsp;BLN</li> <li>NET DEBT/EBITDA RATIO AS OF THE END OF Q1&nbsp;2023 WAS 1.3X MATCHING THE LEVEL AS OF THE END OF 2022</li> </ul> <p>Rosneft publishes Q1&nbsp;2023 results prepared in accordance with the International Financial Reporting Standards (IFRS).</p> <table align="center" class="data-table" style="width: 100%;" border="1" cellspacing="0" cellpadding="0"> <tbody> <tr><th><b>&nbsp;</b></th><th style="text-align: center;"><b>Q1</b><b></b> <b>2023</b></th><th style="text-align: center;"><b>Q4</b><b></b> <b>2022</b></th><th style="text-align: center;"><b>Change, </b><b>%</b></th></tr> <tr> <td>&nbsp;</td> <td colspan="3"><b>RUB bln</b><b> &nbsp; (</b><b>except </b><b>%)</b></td> </tr> <tr> <td>Revenues and equity share in &nbsp; profits of associates and joint ventures</td> <td>1,823</td> <td>1,843</td> <td>(1.1)%</td> </tr> <tr> <td>Costs and expenses</td> <td>1,335</td> <td>1,484</td> <td>(10.0%)</td> </tr> <tr> <td>Operating profit</td> <td>488</td> <td>359</td> <td>35.9%</td> </tr> <tr> <td>EBITDA</td> <td>672</td> <td>537</td> <td>25.1%</td> </tr> <tr> <td>Net income attributable to Rosneft &nbsp; shareholders</td> <td>323</td> <td>222</td> <td>45.5%</td> </tr> <tr> <td>Capital expenditures</td> <td>275</td> <td>310</td> <td>(11.3)%</td> </tr> </tbody> </table> <p>Rosneft&rsquo;s Chairman of the Management Board and Chief Executive Officer Igor Sechin said:</p> <p><i>"In Q1 2023, despite the deteriorating external environment, Rosneft was able to achieve production growth of both liquid hydrocarbons and gas. The Sakhalin-1 project was the main growth driver, increasing daily production by 1.8 times quarter-on-quarter. I should note that the downtime following the exit of the former project operator, American company ExxonMobil, had a negative impact on the technical conditions of field development. </i></p> <p><i>The Company faced the following challenges in the reporting period: amendments to the Tax Code enacted in January, an embargo on petroleum products from a number of unfriendly countries coming into force in February in addition to the oil embargo, and Russia introducing crude oil production cut in March. While the cut did not have much influence on the Q1&nbsp;2023 results, it will have a strong impact on the results of the following quarter. </i></p> <p><i>The Company has been consistently working on minimization of its operating costs despite rising tariffs of natural monopolies. In Q1 2023, thanks to tight cost control our operating upstream costs and refining costs in Russia on a unit basis decreased by 5.0% and by 12.7% QoQ, respectively.^[1]</i></p> <p><i>In the reporting period, Rosneft paid interim dividends to the Company shareholders totaling over RUB 216 bln in full and on time. </i></p> <p><b><span style="text-decoration: underline;">Operating Results</span></b></p> <p><i>Upstream</i></p> <p>In Q1&nbsp;2023, production of liquid hydrocarbons reached 4.0 mln barrels per day, which is 0.8% higher than in Q4 2022. The key growth driver was Sakhalin-1, where average daily production increased 1.8 times QoQ. At the end of 2022, Rosneft became the operator of the project.</p> <p>The Company's average daily gas production in Q1 2023 amounted to 1.5 mln boe per day, which was 2.7% higher QoQ. The share of gas in hydrocarbon production in Q1 2023 increased to 27.6%.</p> <p>As a result, Q1 2023 hydrocarbon production reached 5.6 mln boe per day, 1.3% up QoQ.</p> <p>In Q1 2023, the Company conducted 1.2 th. linear kilometers of 2D seismic and over 4.1 th. square kilometers of 3D seismic onshore. Rosneft tested 8 exploratory wells&nbsp; with a 100% success rate.</p> <p>Production drilling footage in Q1 2023 increased to 2.8 mln meters, or by 2.2% QoQ. Rosneft commissioned 700 new wells, 71% of which were horizontal wells. The share of new horizontal wells with multistage fracturing in Q1 2023 was 45%. Unit production per a horizontal well is twice as much as per one directional well.</p> <p><i>Vostok Oil Project</i></p> <p>The flagship Vostok Oil project has been executed on schedule. In Q1 2023, the Company completed 1&nbsp;th. linear km of 2D seismic surveys and over 1.2 sq.km of 3D seismic surveys, drilled 2 exploration wells, with 5 more wells being tested.</p> <p>As part of the pilot development of the Payakha cluster, in Q1 2023, the Company drilled approximately 20 th. meters and completed drilling of 5 production wells. At the beginning of April 2023, the Company launched pilot development of the Ichemminskoye field. Drilling of the first wells will make it possible to continue studying the geological properties of the formation, helping to determine the most effective way of developing the field.</p> <p>Construction of the Vankor - Payakha - Sever Bay trunk pipeline is underway: over 25 th. piles have been installed and 200 km of pipeline have been welded. The Company continues the construction of the Sever Bay Port oil terminal, where a concrete plant was put in operation, a rotation camp for more than 1,000 people was deployed, and hydraulic engineering structures are being constructed.</p> <p>The Yenisey Basin transshipment facilities are under construction, and the onshore and mooring infrastructure is being expanded. Production bases with the total area of more than 100 hectares have been set up, and more than 11 mln cubic meters of soil have been used for the sites construction. 570&nbsp;th.&nbsp;tonnes of materials and equipment were delivered via the Northern Sea Route and winter roads during the winter season.</p> <p><i>Downstream</i></p> <p>In Q1 2023, the Company processed 22.6 mln tonnes of crude oil in Russia. Oil refining depth rate increased to 76.0% while light oil product yield reached 57.1%.</p> <p>The Company has been consistently working on development of in-house technologies and import substitution. In Q1 2023, a pilot run confirmed the possibility of commercial production of winter and Arctic diesel fuel using isodeparaffinization and hydrofinishing catalysts developed and produced at Angarsk Catalyst Plant (a part of the Rosneft&rsquo;s oil refining complex).</p> <p>Price trends at the Company's retail sites on the domestic market remain below the inflation rate.</p> <p><b><span style="text-decoration: underline;">Financial Results </span></b></p> <p>Operating performance patterns and the current macroeconomic environment combined with the management decisions determined the trends of our key financial performance.</p> <p>In Q1 2023, the Company&rsquo;s revenue^[2] amounted to 1,823 bln rubles, which is 1.1% lower QoQ, while the Urals price decreased by 8.2% in ruble terms. In settlements with the counterparties for export deliveries the Company gives priority to payments in rubles and national currencies of friendly countries.</p> <p>In Q1 2023, EBITDA increased by 25.1%, reaching RUB 672 bln, which was partly attributable to the reduction of unit operating expenses for hydrocarbon production and for refining in Russia by 5.0% and by 12.7% QoQ, respectively. The EBITDA margin reached a record high of 36.7%.</p> <p>The Q1 2023 net income attributable to shareholders amounted to RUB 323 bln, up 45.5% versus Q4 2022, primarily due to the higher operating profit.</p> <p>Capital expenditure for Q1 2023 amounted to RUB 275 bln, showing a QoQ decline of 11.3%, primarily due to seasonal drivers.</p> <p>The Company continues to optimize its debt structure in order to match the revenue structure and reduce the cost of debt. In March 2023, the Company completed its second placement of yuan-denominated bonds in the record high amount for the Russian market of 15 bln. At the same time, the ratio of Net&nbsp;debt/EBITDA at the end of the quarter was 1.3x in dollar terms, which is in line with the ratio level as of the end of 2022. Significant amount of liquid financial assets on the books as well as available credit lines also support the high level of financial stability of the Company.</p> <p><b><span style="text-decoration: underline;">ESG </span></b></p> <p>In Q1 2023, the Company continued its efforts to achieve the Sustainable Development Goals as part of the "Rosneft-2030: Reliable Energy and the Global Energy Transition" strategy.</p> <p>Rosneft has been consistently developing the management system to ensure integrity of its production facilities and equipment with the goal of achieving zero accident rate by 2030 or earlier. In Q1 2023, the PSER-1 process safety event rate improved by 59% YoY, while the PSER-2 improved by 36%.</p> <p>In Q1 2023, the Company did not register a single accident or oil, gas or water show during well workover, development or drilling at its facilities.</p> <p>Rosneft implemented a number of socially important initiatives aimed at minimizing its environmental footprint and preserving biodiversity at Company production sites. By using the innovative methods, the Angarsk Petrochemical Company increased its air monitoring efficiency by 35% due to the use of new methods. The Company applied a cutting-edge process system for reservoir pressure maintenance at the Samotlor oil field. The system is part of the corporate effort to improve water management, and its application allowed stopping water withdrawal from surface water sources. The Company&rsquo;s producing subsidiary Samaraneftegaz completely stopped water withdrawal for reservoir pressure maintenance as well as water disposal into water bodies. The share of recycling and reused water in Company's operations has exceeded 90% in the past nine years.</p> <p><span style="font-size: 85%;">^[1] In dollar terms, unit operating expenses for hydrocarbon production remained below USD 3/boe which is in line with the target formulated in the Company&rsquo;s strategy.<br /> ^[2] Includes revenue and equity share in profits of associates and joint ventures.</span></p> <p align="right"><strong>Information and Advertising Department<br /> Rosneft<br /> May 31, 2023</strong></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>Igor Sechin, Chief Executive Officer of Rosneft Oil Company, made a working trip to India, during which he met with officials from the Indian government, as well as with the heads of some of the country's largest oil and gas companies.</p> Wed, 29 Mar 2023 13:02:44 +0300 https://www.rosneft.com/press/releases/item/214121/ <p>Igor Sechin, Chief Executive Officer of Rosneft Oil Company, made a working trip to India, during which he met with officials from the Indian government, as well as with the heads of some of the country's largest oil and gas companies.</p> <p>During the trip, Rosneft Oil Company and Indian Oil Company signed a term agreement to substantially increase oil supplies as well diversify the grades to India. Igor Sechin, CEO of Rosneft Oil Company, and Shrikant Madhav Vaidya, Chairman of Indian Oil Corporation Ltd., signed the agreement, in the presence of India's Minister of Petroleum and Natural Gas Hardeep S. Puri.</p> <p>The parties also discussed ways of expanding cooperation between Rosneft Oil Company and Indian companies in the entire value chain of the energy sector, including possibilities of making payments in national currencies.</p> <p>Particular attention was paid to the ongoing implementation of joint projects between Rosneft and its Indian partners, including Sakhalin-1, Taas-Yuryakh and Vankorneft.</p> <p>The parties also noted a significant increase in turnover between Russia and India. According to the latest statistics from the Ministry of Commerce and Industry of India, Russia for the first time in history has become one of the five largest trading partners of India - the volume of trade between the countries in 2022 reached 38.4 billion dollars. "Thus, the goal set by the leaders of our countries to increase turnover to $30 billion by 2025 has been achieved in advance," said the head of Rosneft.</p> <div style="border-left: #7f7f7f 5px solid; background: #f3f3f3; margin-left: 15px; padding: 16px;"> <p style="border-bottom: #c2c2c2 1px dashed; padding-bottom: 7px; margin-bottom: 10px;"><strong>Note for Editors:</strong></p> <p>Rosneft has been actively developing the integrated format for cooperation with Indian partners along the whole processing chain, from extraction to refining and oil product sales.</p> <p>Indian companies (ONGC Videsh Ltd., Oil India Limited, Indian Oil Corporation, and Bharat Petroresources) have been owners of 49.9% of the Rosneft&rsquo;s subsidiary JSC Vankorneft since 2016. This company is located in Krasnoyarsk Territory and develops the Vankorskoye oil and gas condensate field, one of the biggest fields discovered and brought on stream over the last 25 years in Russia.</p> <p>A consortium of Indian companies (Oil India Limited, Indian Oil Corporation and Bharat Petroresources) also owns 29.9% of Taas-Yuryakh Neftegazodobycha, which develops the Central Block and the Kurungsky license block of the Srednebotuobinskoye field which is among Rosneft's largest assets in Eastern Siberia.</p> </div> <p align="right"><strong>Information and Advertising Department<br /> Rosneft<br /> March 29, 2023</strong></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>ROSNEFT ANNOUNCES FULL-YEAR 2022 IFRS RESULTS</p> Mon, 20 Mar 2023 16:48:08 +0300 https://www.rosneft.com/press/releases/item/214043/ <ul> <li>2022 HYDROCARBON PRODUCTION INCREASED BY 2.3% YOY TO 5.10&nbsp;MLN&nbsp;BOE PER DAY</li> <li>2022 GAS PRODUCTION REACHED A RECORD HIGH OF 74.4&nbsp;BCM</li> <li>IN 2022, 7 &nbsp;OIL AND GAS DEPOSITS AND 153 NEW OIL AND GAS ACCUMULATIONS &nbsp;WERE DISCOVERED</li> <li>THE COMPANY DISCOVERED MADACHAGSKOYE FIELD WITH 82 MLN TONNES OF RESERVES, THE LARGEST DISCOVERY IN RUSSIA IN 2022</li> <li>2022 PETROLEUM PRODUCTS SALES ON THE DOMESTIC MARKET REACHED A RECORD HIGH OF 42.1&nbsp;MLN&nbsp;TONNES</li> <li>FINANCIAL DEBT AND PREPAYMENTS DECREASED BY RUB&nbsp;0.7&nbsp;TRLN COMPARED TO THE BEGINNING OF THE YEAR</li> </ul> <p>Rosneft Oil Company releases 12M 2022 results prepared in accordance with International Financial Reporting Standards (IFRS).</p> <table align="center" class="data-table" style="width: 100%;" border="1" cellspacing="0" cellpadding="0"> <tbody> <tr><th><b>&nbsp;</b></th><th style="text-align: center;"><b>12M</b><b></b> <b>2022</b></th><th style="text-align: center;"><b>12M</b><b></b> <b>2021</b></th><th style="text-align: center;"><b>Change, </b><b>%</b></th></tr> <tr> <td>&nbsp;</td> <td style="text-align: center;" colspan="3"><b>RUB bln (except %)</b></td> </tr> <tr> <td>Costs and &nbsp; expenses</td> <td style="text-align: center;">7,523</td> <td style="text-align: center;">7,363</td> <td style="text-align: center;">2.2%</td> </tr> <tr> <td>Operating profit</td> <td style="text-align: center;">1,522</td> <td style="text-align: center;">1,398</td> <td style="text-align: center;">8.9%</td> </tr> <tr> <td>EBITDA</td> <td style="text-align: center;">2,551</td> <td style="text-align: center;">2,330</td> <td style="text-align: center;">9.5%</td> </tr> <tr> <td>Net income attributable to &nbsp; Rosneft shareholders¹</td> <td style="text-align: center;">813</td> <td style="text-align: center;">883</td> <td style="text-align: center;">(7.9)%</td> </tr> <tr> <td>&nbsp;</td> <td style="text-align: center;">&nbsp;</td> <td style="text-align: center;">&nbsp;</td> <td style="text-align: center;">&nbsp;</td> </tr> <tr> <td>Adjusted operating cashflow</td> <td style="text-align: center;">2,121</td> <td style="text-align: center;">2,093</td> <td style="text-align: center;">1.3%</td> </tr> <tr> <td>Capital expenditures</td> <td style="text-align: center;">1,132</td> <td style="text-align: center;">1,049</td> <td style="text-align: center;">7.9%</td> </tr> </tbody> </table> <p>&nbsp;</p> <p>Rosneft&rsquo;s Chairman of the Management Board and Chief Executive Officer Igor Sechin said:</p> <p><i>&ldquo;In the reporting year, in the context of external pressure and a volatile macro environment, the Company once again demonstrated operational efficiency and confirmed the resilience of its business model.</i></p> <p><i>Thus, in 2022, the Company's hydrocarbon production exceeded the 2021 level and amounted to 5.10&nbsp;mln&nbsp;boe per day. I would like to make a special mention of the Sakhalin-1 project. After the exit of the former operator, we restored production within the shortest possible period of time and &nbsp;began tanker shipments, while resuming the drilling program. In addition, we have saved over 3,000 highly qualified jobs.</i></p> <p><i>In 2022, thanks to tight cost control and efforts to improve efficiency, the Company managed to rein in the unit upstream cost growth below the industrial producer price inflation.</i></p> <p><i>In the reporting year, the Company&rsquo;s revenue and EBITDA increased, while debt and trade liabilities decreased by RUB&nbsp;0.7&nbsp;trln as compared to the beginning of the year.</i></p> <p><i>We continued our ambitious investment program &ndash; 2022 capital expenditures exceeded RUB&nbsp;1.1&nbsp;trln. </i></p> <p><i>At the same time, we should note that over the past three years, the tax conditions for the activities of oil companies have been made more stringent on 14 occasions, which certainly creates risks for the implementation of our production program.</i></p> <p><i>Strictly adhering to the principles of the dividend policy, in February 2023, Rosneft completed the payment of interim dividends totaling over RUB&nbsp;216&nbsp;bln, which corresponds to 50% of the IFRS net income for 1H&nbsp;2022. Positive 2022 net income lays the foundation for sustainable performance-based payouts to shareholders for the entire reporting period.&rdquo;</i></p> <p><b><span style="text-decoration: underline;">Operating results</span></b></p> <p><i>Exploration and production</i></p> <p>In 2022, hydrocarbon production reached 5.10&nbsp;mln&nbsp;boe per day, exceeding the 2021 level by 2.3% YoY. At the same time, in Q4&nbsp;2022, average daily hydrocarbon production increased to 5.50&nbsp;mln&nbsp;boe due to the production restart at the Sakhalin-1 project.</p> <p>In the reporting year, gas production hit a new all-time record of 74.4&nbsp;bcm, up by 15.0% YoY.</p> <p>In 2022, Rosneft conducted over 4.4&nbsp;th.&nbsp;linear&nbsp;km of 2D seismic and more than 6.8&nbsp;th.&nbsp;sq. km of 3D seismic work onshore. Rosneft tested 64 exploration wells with an 80% success rate.</p> <p>High efficiency of the geological exploration allowed for the discovery of 7 oil and gas deposits and 153 new oil and gas accumulations with around 0.3&nbsp;bln&nbsp;toe of AB1C1+B2C2 reserves. The most significant discoveries included the Madachagskoye field on the Pechora Sea shelf with 82.3&nbsp;mln&nbsp;tonnes of АВ1С1+В2С2 recoverable oil reserves, which is the largest discovery in Russia in 2022². As a result, the Company&rsquo;s АВ1С1+В2С2 hydrocarbon reserves amounted to 159.3&nbsp;bln&nbsp;boe (21.5&nbsp;bln&nbsp;toe) as of December 31, 2022.</p> <p>According to the results of the reserve audit under the PRMS standards (the international Petroleum Resources Management System), as of December&nbsp;31,&nbsp;2022 the Company's 1P, 2P and 3P hydrocarbon reserves amounted to 42.3&nbsp;bln&nbsp;boe, 84.2&nbsp;bln&nbsp;boe, and 132.4&nbsp;bln&nbsp;boe, respectively. The 2Р reserves replacement ratio is in excess of 100%.</p> <p>In 2022, production drilling footage amounted to 11.2 mln meters, up by 3.3% YoY. In recent years, despite the volatility of the macroeconomic and geopolitical environment, Rosneft has maintained consistently high volumes of production drilling. In the reporting year, the number of newly commissioned wells exceeded 3&nbsp;th. units, while the share of the most efficient new horizontal wells was 68%. In 2022, the number of newly commissioned horizontal wells with multistage hydrofracturing exceeded 1.3 th. units, or 43% of the total number of wells commissioned. Unit production per a horizontal well is twice as much as a unit performance of a directional well. The use of these wells allows the Company to maintain sustainable brownfield production by developing more complex reserves, as well as to reduce the conventional reserve development costs.</p> <p><i>The Vostok Oil project</i></p> <p>In 2022, the Company completed over 2&nbsp;th.&nbsp;linear&nbsp;km of 2D seismic surveys and 2&nbsp;th.&nbsp;sq.&nbsp;km of 3D seismic, drilled 6 exploration wells and completed construction of 4 wells with 5 wells&nbsp; being tested at the flagship Vostok Oil project. As a result, in the reporting year, the resource base of the project increased by 300&nbsp;mln&nbsp;tonnes to 6.5&nbsp;bln&nbsp;tonnes. The project&rsquo;s high resource potential was confirmed by the results of an independent international audit.</p> <p>In H2&nbsp;2022, the Company started pilot commercial development of the Payakhskoye field. Currently, Rosneft has drilled more than 25&nbsp;th.&nbsp;m and completed 7 production wells while drilling is in progress at 5 more wells.</p> <p>The construction of the Vankor&ndash;Payakha&ndash;Sever Bay oil trunk pipeline and an expansion of coastal and mooring infrastructure is underway. Within the framework of the project, record long winter roads of 2&nbsp;th.&nbsp;km were built through the north of the Krasnoyarsk Territory and the Yamalo-Nenets Autonomous District.</p> <p><i>Refining and marketing</i></p> <p>In 2022, the Company processed 94.4&nbsp;mln&nbsp;tonnes. The processing depth at the Company&rsquo;s refineries in Russia increased to 76.2%, while light product yields improved to 57.1%.</p> <p>In the reporting year, Rosneft continued to fully meet the growing demand for high-quality motor fuels on the domestic market. In 2022, domestic petroleum product sales reached a record level of 42.1&nbsp;mln&nbsp;tonnes, up by 6.0% YoY. The Company has been consistently working on development of domestic technologies and import substitution. Rosneft&rsquo;s refineries in Russia use proprietary catalysts for production of motor fuels compliant with modern standards. In 2022, the Company launched export sales of its catalysts due to their high quality.</p> <p><b><span style="text-decoration: underline;">Financial results</span></b></p> <p>In 2022, Rosneft&rsquo;s operating performance and the macroeconomic environment combined with competent management decisions allowed the Company to achieve growth in a number of key financial indicators.</p> <p>In 2022, the Company&rsquo;s revenue³ increased by 3.2% YoY, while EBITDA improved by 9.5% YoY.</p> <p>In 2022, net income attributable to shareholders amounted to RUB&nbsp;813&nbsp;bln. The indicator dynamics was affected by non-monetary factors. The achieved level of net income forms a solid basis for dividend payment for the reporting year.</p> <p>Higher electricity prices, as well as increased tariffs for transportation of oil and petroleum products by rail and by pipeline had a negative impact on the dynamics of operating and transportation costs.</p> <p>In 2022, the Company&rsquo;s capital expenditure reached RUB&nbsp;1.1&nbsp;trln, up by 7.9% YoY.</p> <p>The implementation of measures aimed at maintaining financial resilience allowed for the reduction of the Company&rsquo;s financial debt and prepayments by RUB&nbsp;0.7&nbsp;trln compared to the beginning of 2022. The Net financial debt/EBITDA ratio was 1.3x as of the end of 2022, which corresponds to this financial ratio at the beginning of last year.</p> <p><b><span style="text-decoration: underline;">ESG</span></b></p> <p>In 2022, the Company continued the implementation of measures aimed at achieving sustainable development goals within the framework of the Rosneft 2030: Reliable Energy and Global Energy Transition strategy.</p> <p>During 2022, the PSER-1 process safety event rate improved by 30% (compared to the 2021 baseline). Rosneft strives to achieve zero accidents by 2030 or earlier.</p> <p>In 2022, Rosneft remediated 149 hectares of legacy polluted land under the Program for the liquidation of the environmental legacy. In 2022, the volume of drilling waste decreased by 34% due to improved waste management efficiency ensuring no additional waste accumulation.</p> <p>In 2022, the Company continued implementing the Program on detecting and eliminating methane leaks as well as reducing methane emissions at hydrocarbon production facilities. The comprehensive air and ground monitoring covered over 800 sites at 20 enterprises.</p> <p>The Company's activities in the field of sustainable development win stakeholder recognition. In 2022, for the seventh consecutive time Rosneft was among the leaders of the Russian ESG stock indices, including the Moscow Exchange - RSPP &ldquo;Responsibility and Openness&rdquo; index and the Moscow Exchange - RSPP &ldquo;Sustainable Development Vector&rdquo; index. The Company was assigned the highest rating in the Sustainable Corporate Governance ESG rating compiled by the University of Perugia (Italy) and the Corporate Development &ldquo;Da-Strategy&rdquo; Agency.</p> <p><span style="font-size: 85%;">¹ The net income dynamics is primarily due to external factors, including non-cash effects from the actual seizure of the Company's assets in Germany and changes in the RUB exchange rate.<br />² In 2021, Rosneft discovered a gas condensate field named after E.&nbsp;Zinichev with 384 bcm of АВ1С1+В2С2 recoverable gas reserves which is unique in terms of its reserves volume &ndash; the largest global discovery made that year. In 2020, 2 large Arctic fields were discovered (the Zhukov gas field and the Rokossovsky gas condensate field) with total reserves of 1.3 trln cubic meters of gas and 55 mln tonnes of condensate.<br />³ Includes revenue and equity share in profits of associates and joint ventures </span></p> <p align="right"><strong>Information and Advertising Department<br /> Rosneft<br /> March 20, 2023</strong></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>Rosneft has placed a second issue of yuan-denominated bonds in Russia.</p> Mon, 20 Mar 2023 11:24:00 +0300 https://www.rosneft.com/press/releases/item/214091/ <p>Rosneft has placed a second issue of yuan-denominated bonds in Russia. The offering amounts to &yen;15 billion, with a coupon rate of 3.5% per annum. In rouble terms, this placement is the largest of the corporate issues currently in circulation.</p> <p>The previous record also belongs to the Company.</p> <p>The second successful record-breaking placement demonstrates consistently high investor demand for Rosneft securities and serves as market confirmation of the Company's highest credit quality (with the highest rankings of ruAAA and AAA(RU) from Expert RA and ACRA, respectively, with stable outlook).</p> <p>The 10-year series 002P-13 exchange-traded bonds were registered on 14 March 2023 by the Moscow Exchange. The nominal value of one bond is RMB 1,000. The coupon will be paid twice a year. The bond issue will be subject to an offer after 1 year.</p> <p>Borrowings via bond offerings are raised in accordance with Rosneft Oil Company's approved Business Plan.</p> <p align="right"><strong>Information and Advertising Department<br /> Rosneft<br /> Phone: + 7 (499) 517-88-97<br /> March 20, 2023</strong></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>Rosneft Oil Company held an Extraordinary General Shareholders Meeting in the form of absentee voting on December 23.</p> Mon, 26 Dec 2022 11:44:22 +0300 https://www.rosneft.com/press/releases/item/212995/ <p>Rosneft Oil Company held an Extraordinary General Shareholders Meeting in the form of absentee voting on December 23.</p> <p>The shareholders decided to pay interim dividends in the amount of 20.39 roubles per share, which would entail allocating 50% of the IFRS consolidated net profit attributable to Rosneft shareholders, to dividends based on results for 1H 2022. Thus, the Company will pay interim dividends in the amount of 216.1 billion roubles.</p> <p>Closing date of the register for dividend payments is 12 January 2023. The Company will pay dividends to nominee shareholders and trustees no later than 26 January 2023 and to other holders registered in the register no later than 16 February 2023.</p> <p align="right"><b>Information and Advertising Department <br /> Rosneft<br /> December 26, 2022</b></p> <p><em>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</em></p> <p>ROSNEFT&rsquo;S 9M 2022 IFRS RESULTS</p> Wed, 07 Dec 2022 10:06:58 +0300 https://www.rosneft.com/press/releases/item/212821/ <ul> <li>9M&nbsp;2022 HYDROCARBON PRODUCTION INCREASED BY 2.2% YOY TO 4.97&nbsp;MLN&nbsp;BOE PER DAY</li> <li>9M&nbsp;2022 CRUDE OIL SALES IN NON-CIS COUNTRIES INCREASED BY 4.8% YOY TO 77.3&nbsp;MLN TONNES</li> <li>9M&nbsp;2022 EBITDA INCREASED BY 22% TO A RECORD NINE-MONTH HIGHOF RUB&nbsp;2,014&nbsp;BLN</li> <li>FINANCIAL DEBT AND PREPAYMENTS DECREASED BY 17% COMPARED TO THE BEGINNING OF THE YEAR</li> </ul> <p>Rosneft Oil Company releases 9M&nbsp;2022 results prepared in accordance with International Financial Reporting Standards (IFRS).</p> <table align="center" class="data-table" style="width: 100%;" border="1" cellspacing="0" cellpadding="0"> <tbody> <tr><th><b>&nbsp;</b></th><th style="text-align: center;"><b>9M 2022</b></th><th style="text-align: center;"><b>9M 2021</b></th><th style="text-align: center;"><b>Change,&nbsp;% </b></th></tr> <tr> <td>&nbsp;</td> <td style="text-align: center;" colspan="3"><b>RUB bln (except %)</b></td> </tr> <tr> <td>Revenues and equity share in &nbsp; profits of associates and joint ventures</td> <td style="text-align: right;">7,202</td> <td style="text-align: right;">6,224</td> <td style="text-align: right;">15.7%</td> </tr> <tr> <td>EBITDA</td> <td style="text-align: right;">2,014</td> <td style="text-align: right;">1,654</td> <td style="text-align: right;">21.8%</td> </tr> <tr> <td>Capital expenditures</td> <td style="text-align: right;">822</td> <td style="text-align: right;">689</td> <td style="text-align: right;">19.3%</td> </tr> <tr> <td>&nbsp;</td> <td style="text-align: center;" colspan="3"><b>USD&nbsp;bln^* &nbsp;(except&nbsp;%)</b></td> </tr> <tr> <td>Revenues and equity share in &nbsp; profits of associates and joint ventures</td> <td style="text-align: right;">102.3</td> <td style="text-align: right;">85.9</td> <td style="text-align: right;">19.1%</td> </tr> <tr> <td>EBITDA</td> <td style="text-align: right;">28.5</td> <td style="text-align: right;">22.4</td> <td style="text-align: right;">27.2%</td> </tr> <tr> <td>Capital expenditures</td> <td style="text-align: right;">12.0</td> <td style="text-align: right;">9.3</td> <td style="text-align: right;">29.0%</td> </tr> </tbody> </table> <p><span style="font-size: 85%;">^* Calculations based on average monthly Central Bank of Russia exchange rates.</span></p> <p>Commenting on the Company&rsquo;s 9M&nbsp;2022 results, Rosneft&rsquo;s Chairman of the Management Board and Chief Executive Officer Igor Sechin said:</p> <p><i>"In 3Q&nbsp;2022, Rosneft continued to be negatively affected by external factors and illegal restrictions, including the transfer of the Company&rsquo;s German assets to external management of the German Federal Network Agency in September.</i></p> <p><i>However, thanks to the successful management efforts aimed at maintaining business efficiency, the Company made a number of notable improvements in its operating and financial performance in the reporting period.</i></p> <p><i>As a result, in the first nine months of 2022 the Company increased hydrocarbon production and successfully optimized distribution channels: oil supplies to Asia grew by about a third and fully compensated for the decline in supplies to European buyers. Rosneft&rsquo;s EBITDA reached a record nine-month high, exceeding RUB&nbsp;2&nbsp;trln, while debt and trade obligations decreased by 17% as compared to the beginning of the year.</i></p> <p><i>Strong financial results supported higher capital expenditures. Projects implemented by the Company, including the flagship Vostok Oil project, will facilitate meeting the growing global energy demand. I would like to note that in September 2022, despite the lack of funding from our partner, we launched the major Kharampurneftegaz gas project right on time, which allowed for the increase in the Company's production by 11&nbsp;bln&nbsp;cubic meters per year.</i></p> <p><i>Concern for the shareholders&rsquo; interests is traditionally one of the key priorities for the Company. On November 11, Rosneft&rsquo;s Board of Directors recommended that the General Shareholder Meeting should resolve to pay interim dividends in the amount of RUB 20.39 per share.¹"</i></p> <p><b><span style="text-decoration: underline;">Operating results</span></b></p> <p><i>Exploration and production</i></p> <p>9M&nbsp;2022 hydrocarbon production reached 4.97&nbsp;mln&nbsp;boe per day, up by 2.2% YoY². At the same time, 3Q&nbsp;2022 average daily hydrocarbon production increased to 5.22&nbsp;mln&nbsp;boe, which is the highest result for the last 10&nbsp;quarters².</p> <p>9M&nbsp;2022 liquids production amounted to 3.81&nbsp;mln&nbsp;bbl per day, remaining at the level of 9M&nbsp;2021². During 9M&nbsp;2022, the Company's share in total production of liquid hydrocarbons at major new projects launched since 2016 amounted to 546&nbsp;th.&nbsp;bbl per day, which is 7.5% higher YoY. The share of these projects in the total production of liquid hydrocarbons reached 14.3%.</p> <p>9M&nbsp;2022 gas production reached 1.16&nbsp;mln&nbsp;boe per day, up by 10.6% YoY². The growth was mainly due to an increase in natural gas production at the Rospan project, as well as the launch of the Senoman Kharampurneftegaz project in September&nbsp;2022. In the reporting period, the share of gas in hydrocarbon production was 23%.</p> <p><i>Vostok Oil project</i></p> <p>The flagship Vostok Oil project has been executed on schedule. In 9M&nbsp;2022, the Company completed 2.2 th. line km of 2D seismic surveys and 2.0&nbsp;th.&nbsp;sq.&nbsp;km of 3D seismic surveys, drilled 5&nbsp;exploration wells and completed construction of 2&nbsp;wells, with 7&nbsp;wells being tested. The results of exploratory wells testing at the Zapadno-Irkinsky area and the Payakhskoye field, in combination with the conducted seismic surveys, make it possible to increase the project resource base from 6.2 to 6.5&nbsp;bln&nbsp;tonnes.</p> <p>As part of the pilot work program, development drilling at the Payakhsky cluster, as well as construction and development of an oil loading terminal in the Sever Bay port, the main oil transportation system and expansion of the port infrastructure are underway.</p> <p>In 3Q&nbsp;2022, the Company completed the construction of the Suzun-Vankor interfield gas pipeline with a gas pumping capacity of 2.2&nbsp;bln&nbsp;cubic meters per year and embarked upon a comprehensive testing of gas transportation system facilities. The implementation of the gas program at the Suzunskoye field is an important step towards reducing the carbon footprint of the Vostok Oil project.</p> <p><i>Refining and marketing</i></p> <p>In 9M&nbsp;2022, the Company processed 71.0&nbsp;mln&nbsp;tonnes of oil. 3Q&nbsp;2022 refining volume grew to 25.2&nbsp;mln&nbsp;tonnes, including 23.3&nbsp;mln&nbsp;tonnes processed in Russia. At the end of 9M&nbsp;2022, oil refining depth at Russian refining assets increased to 76.4%, while light oil product yield was up to 57.2%.</p> <p>9M&nbsp;2022 oil sales volume increased by 3.3% YoY to 86.9&nbsp;mln&nbsp;tonnes. At the same time, thanks to the successful optimization of distribution channels, 77.3&nbsp;mln&nbsp;tonnes were sold in non-CIS countries, up by 4.8% YoY. Oil deliveries to Asian buyers over the reporting period grew by about a third to 52.4&nbsp;mln&nbsp;tonnes. In 3Q&nbsp;2022, the share of Asian deliveries in the non-CIS oil sales&nbsp; reached a record-high 77%.</p> <p>In 9M&nbsp;2022, domestic petroleum product sales amounted to 31.1&nbsp;mln tonnes, a 6.5% increase YoY.</p> <p><b><span style="text-decoration: underline;">Financial results </span></b></p> <p>The operating indicators dynamics as well as the prevailing price environment allowed the Company to increase its revenue³ by 15.7% to RUB&nbsp;7,202&nbsp;bln. At the same time, EBITDA increased by 21.8% YoY and reached a record nine-month high&nbsp; of RUB&nbsp;2,014&nbsp;bln. EBITDA margin also rose to an all-time high of 28.0%.</p> <p>9M&nbsp;2022 net income attributable to shareholders amounted to RUB&nbsp;591&nbsp;bln. The net income dynamics was largely due to the influence of non-monetary factors. In 3Q&nbsp;2022, the most significant negative impact on income came from the transfer of the Company&rsquo;s assets in Germany to external management of the Federal Network Agency, which resulted in the recognition of an additional loss of RUB&nbsp;56&nbsp;bln. The transfer of assets also resulted in a RUB&nbsp;76&nbsp;bln reduction in cash. The total amount of the Company's investments in these assets exceeded $5 bln, which corresponds to the sum of historical cost and investments in their expansion and development. The Сompany traditionally takes a conservative approach to asset valuation, and made provisions for the most part of the German assets value in the previous periods.</p> <p>9M&nbsp;2022 capital expenditures amounted to RUB&nbsp;822&nbsp;bln, up by 19.3% YoY. The increase was mainly due to the planned growth in investments in the Vostok Oil project.</p> <p>The implementation of measures aimed at maintaining financial stability allowed for the reduction of the Company&rsquo;s prepayments and financial debt by 17% compared to the beginning of 2022. As of the end of the reporting period, the Net financial debt/EBITDA ratio amounted 1.1x compared to 1.3x at the beginning of the year.</p> <p><b><span style="text-decoration: underline;">ESG</span></b></p> <p>The Company continues to implement measures to achieve sustainable development goals within the framework of the Rosneft&nbsp;2030: Reliable Energy and Global Energy Transition strategy.</p> <p>Rosneft consistently develops a system for managing the integrity of production facilities and equipment in order to achieve zero accidents by 2030 or earlier. During 9M&nbsp;2022, the PSER-1 process safety event rate decreased by over 20% (compared to the 2021 baseline) due to effective containment loss risk management, as well as well-timed and prompt response to leaks, among other things.</p> <p>The Company has developed the Program for the liquidation of the environmental &ldquo;legacy&rdquo;, aimed at achieving 100% of legacy remediation by 2035 or earlier. In 9M&nbsp;2022, 107&nbsp;hectares of the legacy polluted land were remediated.</p> <p><span style="font-size: 85%;"> ¹ It is recommended to allocate at least 50% of 1H 2022 IFRS net profit for the payment of Rosneft&rsquo;s interim dividends <br /> ² In a comparable perimeter (excluding assets disposed of in 2021)<br /> ³ Includes revenues and equity share in profits of associates and joint ventures</span></p> <p align="right"><b>Information and Advertising Department <br /> Rosneft<br /> December 7, 2022</b></p> <p><i>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</i></p> <p>Rosneft Oil Company, the Moscow State Institute of International Relations (MGIMO) and the Azerbaijan State Oil and Industry University (ASOIU), one of Azerbaijan&rsquo;s‑ leading universities, have signed a cooperation agreement on personnel training at the 15th Verona Eurasian Economic Forum.</p> Thu, 27 Oct 2022 12:17:00 +0300 https://www.rosneft.com/press/releases/item/213141/ <p>Rosneft Oil Company, the Moscow State Institute of International Relations (MGIMO) and the Azerbaijan State Oil and Industry University (ASOIU), one of Azerbaijan&rsquo;s‑ leading universities, have signed a cooperation agreement on personnel training at the 15th Verona Eurasian Economic Forum.</p> <p>Personnel training and development is one of the key objectives of the Rosneft 2030 Strategy. The Company provides its employees with opportunities to continuously improve their professional skills and competencies.</p> <p>Rosneft&rsquo;s unified corporate training system covers all categories of personnel and areas of business. The training engages lecturers from leading national and overseas universities, as well as educational and consultancy companies. The training programmes are tailored to the Company&rsquo;s current and strategic objectives.</p> <p>The cooperation agreement provides Rosneft employees with opportunities to be trained under joint educational programmes at the International Institute of Energy Policy and Diplomacy of MGIMO and ASOIU, including the following areas: alternative energy, management of major oil and gas projects, administration and management of digital projects, management of science, technology and innovation activities.</p> <p>The parties agreed to promote the development of Russian-Azerbaijani academic cooperation in the energy sector. The agreement provides for an exchange of experience on improving technologies in the oil and gas sector, as well as joint roundtables, fellowships, meetings and conferences. A joint working group will be set up to implement the Agreement on a parity basis.</p> <div style="border-left: #7f7f7f 5px solid; background: #f3f3f3; margin-left: 15px; padding: 16px;"> <p style="border-bottom: #c2c2c2 1px dashed; padding-bottom: 7px; margin-bottom: 10px;"><strong>Note for Editors:</strong></p> <p>The Azerbaijan State Oil and Industry University&mdash;Azerbaijan&rsquo;s leading university for training specialists in the oil and gas sector&mdash;was founded in 1920. ASOIU is ranked among the best universities in Europe and Central Asia.</p> <p>MGIMO is one of Russia&rsquo;s leading universities. The university is a strategic partner of Rosneft. Rosneft&rsquo;s cooperation with MGIMO has been developing since 2005. The main areas of cooperation are:</p> <ul> <li>training, retraining and advanced training of personnel;</li> <li>development of Rosneft&rsquo;s base chair at the International Institute of Energy Policy and Diplomacy at MGIMO;</li> <li>scientific research;</li> <li>expertise and analysis;</li> <li>development of educational infrastructure and support for students and teachers.</li> </ul> </div> <p align="right"><strong>Rosneft<br /> Information Division<br />October 27, 2022</strong></p> <p><i>These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.</i></p>