The Annual General Meeting of Gazprom Neft was held on 8 June 2012 to approve the report and accounts for 2011.
Gazprom Neft remained among oil industry leaders in 2011, showing the fastest growth in operating profit (EBITDA) and the highest total shareholder return. Consolidated net profit was up 70% to USD 5.35 billion. The company’s operational results were also the best in its history and materially ahead of 2010. Production volume rose 8% to 57.3 million tonnes of oil equivalent and refining volume increased by nearly 7% to 40.5 million tonnes.
The AGM approved the Board’s proposal to pay a dividend of 22% of consolidated net profit or RUB 34.61 billion. This is equivalent to RUB 7.3 per share, an increase of 65% on the 2010 payout. The dividends will be paid to shareholders in accordance with current legislation.