In the midst of what has been an exceptional period for our organization, a plethora of our directors, leaders and key staff met in Moscow for our annual general meeting on 3 April. During the event, which has been held each year since Rusneftegaz was founded, the invited delegates participated in discussions pertaining to our performance over the past twelve months after the publication of our consolidated financial statements earlier that week. These were fully audited pursuant to all relevant legislation and compiled in accordance with International Financial Reporting Standards, also known as IFRS, prior to promulgation. Overall, the key stakeholders involved were delighted by the announcement that we had once again achieved record revenues and profits, with our monumental growth continuing as we seek further expansion both domestically and internationally. Although the size of this increase was less profound than documented in our previous fiscal results, our executives took solace in the fact that our latest forecasts project that we expect to surpass such totals once more in 2026, thus providing a considerable reason to be positive for the future. At the culmination of this significant occasion, our Deputy Chief Executive Officer, Aleksandr Filyurin, delivered the following remarks:

“First and foremost, it has obviously been a great year for us and everyone involved with Rusneftegaz. It has been clear to a lot of us that we are doing very well at the moment, and there is no doubt in my mind that it is due to all the efforts of everyone who works here. Every time I start to think that maybe we will begin consolidating the gains we have made over the last few years, we always manage to find another level. I don’t think there are going to be many people out there who truly appreciate the scale of this achievement. To continue breaking revenue and profit records year after year as an established company is unprecedented. I really hope that this continues for as long as possible, and to be honest with you, I am very optimistic about that at the moment. That said, on a much more serious note, the board and I would also like to extend our thoughts and prayers to Mikhail and his family. His work over the past decade has been completely invaluable, and his absence here is felt deeply. Fortunately, I still speak to him most days, and he is doing well. He is a really strong guy, and we all know that he can get through this. We all wish him the best, and we all hope to see him back here soon.”

At the end of the analysis of our results for 2025, the financial statements and the corresponding director’s report were approved unanimously during a procedural vote by our shareholders. This was then followed by motions to reappoint our external auditor, each of the members of our board of directors and our audit committee, all of which passed as anticipated. Unlike at previous meetings, there were no other resolutions to be balloted, with no amendments to our existing plans and strategies proposed at this time. However, it was also mutually agreed between all participating parties that no dividend should be paid this year, with consensus amongst attendees that all the funds earned by Rusneftegaz could be retained to facilitate the ongoing expansion of our trading network. Such decisive action, that has now been undertaken for over a decade, will enable us to expand the range of opportunities available to us and ultimately expedite our growth in the months and years ahead. This is particularly noteworthy considering the fact that our fiscal projections for the current period are exceptionally strong, with our firm set to capitalize on the continuing volatility in the value of commodities.

These fluctuations are wholly as a result of the war that is unfolding across the Middle East at present, with our management forecasting that oil prices will remain high for the foreseeable future, long after military operations have been concluded. Whilst all such predictions are subject to change, our executives believe that the resulting disruption to fuel supply chains around the world will last until at least the last quarter of the year, if not longer, causing the price of crude oil and refined products to be considerably above average for the remainder of this period. With such a situation undoubtedly beneficial to our long-term prospects and our wider organization, we intend to use this time span as an opportunity to continue expanding of our number of trade partners, despite the fact that our potential market is inherently limited by geopolitical factors beyond our control. This was evidenced last year when we relocated to our new headquarters in Moscow, which has proven to be far more suited to the needs of a rapidly growing business thus far. This move marked a major milestone in the implementation of our corporate structure review, that was ultimately approved by our stakeholders at the last annual general meeting in 2025.

With the execution of this new strategy ongoing, our leadership is anticipating a year of significant developments for Rusneftegaz, with these set to be announced in due course as each takes effect. In spite of the fact that no statements are immediately forthcoming, such plans are materializing within the timeframe expected by our executives, and our board of directors remains satisfied with the progress made thus far. This is undeniably due in part to the remarkable endeavors of our staff, who continue to make extraordinary efforts to ensure that this enterprise continues to thrive long into the future. By way of illustration, this was demonstrated last November when we hosted our yearly awards ceremony, marking the achievements of a selection of our workforce during the previous twelve months. Although Ilya Dmitriev and Roman Tarasov were presented with the main prizes on the night itself, we remain grateful for the work undertaken by all our employees, regardless of their job title. It is such travails that will enable us to prosper not only this year, but long into the coming decades ahead. Any queries related to our annual general meeting should be directed via telephone and email for a prompt reply. We necessitate your cooperation and understanding regarding this matter.

Rusneftegaz can confirm that our long-serving Chief Financial Officer, Mikhail Avdeyev, will take an extended leave of absence from his position with immediate effect for medical reasons. During this time, his role will be fulfilled on an interim basis by his understudy, Dmitry Zubkov, until he is fit to return to his duties at a later date. Our leadership has sent its best wishes to both him and his family, and remains wholly optimistic that he will be able to resume his work before the end of the year. In response to these developments, our Deputy Chief Executive Officer, Aleksandr Filyurin, issued the following statement:

“The board and I are incredibly shocked and concerned by this news. We all wish Mikhail and his family all the best while he gets through this. There is no doubt in my mind that he will be back with us in no time. That said, I also have total confidence in Dmitry to do a great job in his absence. He has proven himself to be a great asset to this company in the time that he has worked here, and we wish him all the best in his interim role for however long it lasts.”

For the duration of this period, it has been agreed that Avdeyev will continue to serve on our board of directors and will remain on the ballot for re-election at our upcoming annual general meeting, which is scheduled to be held at the beginning of April. Due to the nature of this situation, we will be making no further statements on this particular state of affairs and will not be providing updates until he returns to his role. We shall similarly not be accepting any inquiries pertaining to this matter at this time, considering the circumstances involved. We necessitate your cooperation and understanding with this urgent issue. 

The board of directors of Rusneftegaz would like to express its bemusement at the announcement today by the British Treasury, which will fundamentally have no impact on our operations and appears to serve no obvious practical purpose. Ultimately, our organization does not conduct any business in the United Kingdom, nor do we hold any assets within its jurisdiction, and thus any punitive actions against us should be considered futile. If any other state or supragovernmental body enacts similar measures in the future, we will not hesitate to protect our interests accordingly. Whilst it is the prerogative of each nation to execute a trade policy in accordance with their own economic priorities, we have no intention of allowing any of our fundamental property rights to be violated under any circumstances. Any inquiries from media organizations pertaining to this matter must be directed to our press office for any further response at the earliest convenience. Likewise, queries from interested parties with regard to what has been announced may be sent via the conventional channels of telephone or email as soon as possible. Due to the significant volume of messages we are receiving as a result of these developments, we require the cooperation and understanding of those submitting questions to us at this present time.

At the culmination of what has been another remarkable period for our business, Rusneftegaz is now able to publish a full provisional calendar for the next twelve months, the major highlight being our annual general meeting, scheduled to be held in early April. This particular event has occurred in the first half of each year since our company was founded and serves as not only a showcase for our ongoing success, but also as a profound opportunity for our leadership to discuss and shape the future of our organization. In recent times, this has entailed our board of directors approving new investment plans and research strategies for the remainder of this decade, albeit no such affairs are set to be included on the agenda at the forthcoming conference. Instead, our key stakeholders and managers may collectively review our consolidated financial statements and corresponding fiscal data for 2025, all of which are set to be circulated to all relevant parties prior to the gathering. While such documents will not be made available to a broader public audience, our firm shall continue to promulgate comprehensive production reports within four weeks of the end of each quarter, with the expected dates for each of these announcements disclosed accordingly on our official website. However, it should be noted that all such information is preliminary and is therefore subject to change, although our management believes that any amendments are unforeseeable and thus improbable at this present time.

Despite the fact that our leadership continues to do its utmost to ensure that all those affiliated with our organization remain informed with regard to our ongoing affairs, this becomes increasingly challenging at certain times of the year when our manpower is reduced. This is particularly acute during the Christmas celebrations, transpiring between 25 December and 9 January, when a significant percentage of our administrative workforce goes on vacation for an extended timeframe. Consequently, we advise anyone seeking to contact Rusneftegaz to do so as soon as it is possible to do so in order to receive a response before our capacity to respond to such inquiries is limited by these aforementioned constraints. Although all our communication channels will be monitored throughout the festive period, our staff will not prioritize handling new incoming messages, but will principally focus their efforts on directing relevant correspondences to the appropriate office. As a result, we cannot wholly guarantee an immediate reply, especially if one of our departments has been heavily affected by this reduction in personnel. All our production and trading operations will continue as normal for the duration of the holiday season, and thus we shall endeavor to facilitate all critical or urgent memos for our teams as is customary. All unanswered missives directed to us, our subsidiaries or partners on said days will all be acknowledged within one working day of our full operational return. Due to the time-sensitive nature of this announcement, all queries pertaining to this matter must be submitted via email or phone without delay. We politely request your full cooperation and understanding in relation to this pressing business.