OREANDA-NEWS. Bashneft has been included in the list of the 50 most successful and dynamic private-sector companies in the BRICS countries and other emerging markets, according to 2014 BCG Local Dynamos, a new report prepared by the Boston Consulting Group (BCG), a leading global management consulting firm

The report emphasizes that 'local dynamos' effectively compete against traditional companies by using innovative approaches. The report illustrates this trend taking Bashneft as an example. By reinvigorating exploration and production in legacy regions and launching new projects, the Company has boosted oil output by 37% over the past five years and has improved the efficiency of its refineries.

BCG defines local dynamos as companies that do not seek to enter international markets. They are thriving in their domestic markets, outperforming both international and state-owned companies. They win by focusing on the needs of local customers and providing world-class services, which enables them to compete against larger and more experienced companies.

According to BCG, from 2009 to 2013, revenues of local dynamos grew by 28% annually, which, in turn, contributed to an increase in shareholder return. During the period from 2009 to 2013, their total shareholder return rose by 26% annually, a rate that is much faster than those for indices composed of similar companies, for instance, the MSCI Emerging Markets Index.