Gazprom Neft Press Office:
Shareholders in Gazprom Neft have endorsed dividend payments for 2016 at RUB10.68 per ordinary share
The Annual General Meeting of Shareholders in Gazprom Neft has taken place in St Petersburg on 9 June 2017, with the approval of the 2016 Annual Report and Accounts.
Gazprom Neft shareholders endorsed the recommendation of the Board of Directors to pay dividends in the amount of RUB50.64 billion, being 25.3 percent of the company’s 2016 consolidated net profit (IFRS). Net profit in 2016 showed an
The following were elected to the Board of Directors of Gazprom Neft:
PriceWaterhouseCoopersAudit were confirmed as Gazprom Neft’s auditors for 2017. Shareholders also reviewed a number of issues on the AGM agenda.
Alexander Dyukov, Chairman of the Management Board, Gazprom Neft, commented: "2016 has seen Gazprom Neft became the leader company in Russia’s oil industry in terms of production growth, increasing hydrocarbon production by more than 8 percent, to 86.2 million tonnes. Maintaining optimum throughput at the company’s refineries has ensured the highest possible profitability under current conditions in the refining industry. Fuel sales through the Gazprom Neft filling station network have also seen growth. The company has maintained its leading position in the aviation fuels market, and has expanded its range of high-tech bitumen materials.
"The most obvious outcome of our highly effective work in 2016 has been the unprecedented growth in the company’s net profit. Having, on the basis of year-end results, assumed market leadership through growth in key financial indicators — including, specifically, net profit and the internal rate of return (IRR) — Gazprom Neft has, at the same time, shown the lowest increase in its outgoings.
“The growth in the company’s share price provides incontrovertible evidence of our efficiency, with the ruble share price in 2016 reaching the highest level in Gazprom Neft’s history. I have every confidence that the company will maintain its momentum throughout 2017 and continue its consistent progress towards achieving its strategic goals.”