Corporate governance system
The corporate governance system of Gazprom Neft PJSC is based on principles that aim to preserve and multiply assets, increase market value, maintain the Company’s financial stability and profitability as well as respect the rights and interests of shareholders and other interested parties.
The management of a complex multi-level vertically integrated oil company (VIOC) structure that includes geological exploration, production, refining and sales both within the country and abroad and requires a professional team of managers and a highly efficient system of corporate governance and control. The Company currently has a well-defined and clear organisational structure with a high level of interaction between governing bodies and clear delineation of management and control duties to guarantee sustained growth in the Company’s value for shareholders in the long term.
The disclosure and transparency of financial information along with the preservation of the Company’s interests regarding the protection of trade secrets and other confidential information play a significant role in the Gazprom Neft corporate governance system.
For Gazprom Neft, the most important information distribution channel available to the greatest number of stakeholders is the Company’s official website, the annual report and sustainable development report, as well as the website’s dedicated IR section. These resources can be used to view the latest Company news, financial and production indicators, reporting and other useful information about the Company’s operations, as well as documents governing the activities of Gazprom Neft management and supervisory bodies, including the Charter, Regulation on the General Meeting of Shareholders, Regulation on the Board of Directors, Regulation on the Management Board, Regulation on the CEO, and Regulation on the Audit Commission.
Adhering to the principle of equal access to information for all stakeholders, Gazprom Neft publishes information on its official website in both Russian and English.