OREANDA-NEWS. Bashneft's Board of Directors has approved the reorganization of LLC Bashneft-Retail Sales through consolidation of LLC Promenergoresurs, CJSC Helios, LLC AZS-Saransk, LLC AZS-Kurgan, CJSC AZS-Aktiv, LLC AZS-Region, LLC AZS-Ufa, CJSC OPTAN-AZS and CJSC Ural, and liquidation of the Bashneft-Bashkirnefteprodukt and Bashneft-Orenburgnefteprodukt Branches of JSOC Bashneft.

These decisions were made as part of the reorganization of Bashneft's system for retail sales of petroleum products, which involves consolidation of the Company's subsidiaries and branches specializing in retail sales into a single legal entity, LLC Bashneft-Retail Sales (see the press release dated May 29, 2014).

Alexander Kreschenko was appointed General Director of LLC Bashneft-Retail Sales; he replaced Andrey Brotsman, who decided to continue his career outside the Company.

Note: Alexander Kreschenko was born in 1971. In 1994 he graduated from Bauman Moscow State Technical University; in 1997 he graduated from Moscow University of Consumer Cooperation. From 1995 through 2003 Mr. Kreschenko was the Strategic Management Director of OJSC Sheremetyevo-Cargo. From 2003 through 2005 he held the position of Deputy General Director of NTC Geyser and General Director of LLC InfinStone. From 2005 through 2012 he held the post of Head of Asset Management at TNK-ВР Marketing and General Director of TNK-Stolitsa. Since October 2012, he has worked for JSOC Bashneft as Director of the Regional Network Operation and Maintenance Department.