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Gazprom Neft Will Not Increase Aviation Kerosene Prices from February 1

Gazprom Neft has taken a decision not to increase aviation kerosene prices from February 1 but to keep them at the last month's level. Such a decision was made in order to support air carriers and steady the Russian aviation kerosene market. The decision covers all domestically marketed aviation kerosene volumes to the exclusion of the exchange traded or tendered lots.

At the same time, the actual market environment bespeaks the world markets' lasting upward trend in jet fuel prices; specifically, as of January 31, jet fuel prices in Rotterdam based on Platts quotes increased by $90 per ton during the first month of 2011.

The Company has earlier reported the arrangements made to satisfy the consumer demand and steady the domestic oil products market.