Bashneft

The Board of Directors of JSOC Bashneft made a decision to convene an Extraordinary General Meeting of Shareholders of the Company on December 17, 2013, approved its agenda and set the date for compiling a list of persons entitled to participate in the meeting at November 5, 2013. The Board of Directors decided to recommend that the General Meeting of Shareholders should approve dividend payments for …

At the auction conducted by the Department of Subsoil Use of the Republic of Bashkortostan (Bashnedra), Bashneft won the right to conduct geological exploration, prospecting and production of hydrocarbons at the Astashevsko-Sosnovsko-Nazarovskiy subsoil area. Bashneft will make a one-off payment for the area totalling 330 thousand roubles The Astashevsko-Sosnovsko-Nazarovskiy subsoil area has the area of 1,922.7 sq. km and is situated in the southern part of the Republic of Bashkortostan …

Bashneft has sold a 100% stake in the authorized share capital of LLC Bashneft-ServiceAssets to OJSC JSFC Sistema. The transaction value determined by an independent appraiser amounted to 4.1 billion roubles The transaction approved by Bashneft’s Board of Directors forms part of Bashneft’s strategy for divesting the Company’s non-core assets. As has been reported earlier, in the first quarter of 2013, Bashneft completed the establishment of an oilfield service holding …

During the six months of 2013, the Group’s revenue from sales increased by 6.2% year-on-year to 260,483 million roubles due to an increase in oil production and refining. During the period from January through June 2013, adjusted EBITDA declined by 1.6% and amounted to 44,141 million roubles. During the six months of 2013, the Group’s net income less minority interest totalled 25,154 million …

The Board of Directors of JSOC Bashneft has decided that the Company should sell its stake in the authorized share capital of OJSC United Petrochemical Company (UPC) to OJSC JSFC Sistema; currently, Bashneft owns a 98% stake in UPC’s authorized share capital. The Board has submitted this proposal to the …

Bashneft released its preliminary operating results for the six months of 2013. During the period from January through June 2013, oil production at the Company’s fields amounted to 7,768 thousand tonnes, which is 1.5% higher than in the same period in 2012. In the second quarter of 2013, Bashneft produced …

Today, Bashneft Group opened a state-of-the-art Drilling Support Centre (DSC) in Ufa designed and constructed by Schlumberger, the world’s leading supplier of a full range of modern technologies, project management services and IT solutions for the oil and gas industry. The DSC is designed to provide professional real-time drilling support maximizing operational and economic efficiency. Bashneft’s investment in the creation of the DSC totalled 165 …

Bashneft Group opened a state-of-the-art Drilling Support Centre (DSC) in Ufa designed and constructed by Schlumberger, the world’s leading supplier of a full range of modern technologies, project management services and IT solutions for the oil and gas industry. The DSC is designed to provide professional real-time drilling support maximizing operational and economic efficiency. Bashneft’s investment in the creation of the DSC totalled 165 million …

Today, Bashneft Group, which comprises JSOC Bashneft, its subsidiaries and affiliates, released its unaudited consolidated financial statements for the first quarter of 2013 prepared in accordance with International Financial Reporting Standards (IFRS) In the first quarter of 2013, the Group’s revenue from sales increased by 5.8% year-on-year and totalled 125,580 …

Bashneft Group has acquired a 100% stake in LLC Alternativa, which owns 12 filling stations in the Orenburg Region operating under the Q&R brand name. The transaction is part of Bashneft’s strategy for increasing the number of its own filling stations in the key regions where its retail network is being developed. Q&R accounts for slightly more than 1% of retail sales …