OREANDA-NEWS. On 03 July 2009 was announced, that annual general meeting of the shareholders of OAO NK “RussNeft” had been held. The meeting approved annual report for the year 2008, annual accounting report, profit and loss account of the Company. The register for participation in the meeting was closed on May 21.

In 2008 “RussNeft” produced 14.2 million tons of oil (+ 0.55% as compared to 2007), processed 7.5 million tons (+ 2.4% as compared to 2007). The total volume of oil products retail sales through the “RussNeft”’s own distribution net in 2008 amounted to 650.8 thousand tons (+ 11% as compared to 2007). In 2008 the raw materials base of the Company grew by 5% (by 20 million tons of C1 category).

Consolidated proceeds amounted to USD 8.09 billion rubles (+ more than 20% as compared to 2007). In 2008 “RussNeft” settled completely all the existed tax claims. The total sum of tax payments of “RussNeft” to the budgets of all levels considering settlement of tax delinquencies amounted to USD 3.6 billion.

In December 2008 NK “RussNeft” fulfilled in full its obligations on purchasing the bonds put for redemption within the debut bonded loan “RussNeft-1”; the sum of the Company’s payments amounted to more than USD 280 million (6.97 billion rubles).

The new management started the process of restructuring the Company’s assets and implementation of the anti-crisis program aimed at development of new transparent corporative structure, reduction of costs and increasing the efficiency of the Company’s work.

At the meeting the shareholders elected the new compositions of the Board of Directors and the Audit Commission of OAO NK “RussNeft”  and appointed the auditor for the year 2009 – OOO “METROEC”.

The new composition of the Board of Directors of OAO NK “RussNeft” is as follows: Vladislav Solovyov, Ashot Khachturiants, Chrystalla Dekatris, George Mountis, Evelina Georgiades.