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  • Changes to Contracted Hours in 2021

    As a direct consequence of the ongoing pandemic, Rusneftegaz is to offer all administrative personnel the opportunity to reduce their working hours in 2021, with the board of directors viewing this as a reasonable compromise to preserve all existing jobs. The new arrangement should also continue to maintain company efficiency whilst increasing the productivity of those employees that are currently working from their homes. In response to this announcement, our Deputy Chief Executive Officer, Aleksandr Filyurin, delivered these remarks: 

    “I fully understand that this announcement may be concerning to many of our staff, but I hope that I can reassure them that there is no need to be. We are in an exceptionally strong financial position, and unlike many other companies, Rusneftegaz is likely to be profitable at the end of this financial year. That said, our revenues and profit margins are expected to be much lower than our forecasts, and we need to make cutbacks to offset this. This measure will be entirely voluntary; no-one who does their job well will be leaving us unless they choose to do so. We know that many of our staff are worried at the moment, and we have zero intention of increasing these worries. In fact, we are currently doing everything we can to ensure the long-term future of Rusneftegaz, and I hope that I can make another announcement about this soon.” 

    It should also be noted that we intend to hire new administrative personnel during this period on these newly updated contractual terms. Any operational and production personnel employed on temporary or permanent contract are unaffected by this resolution, although may notice the decreasing number of external contractors working on site over the next few months. Prior to these changes coming into effect, our management will consult all relevant parties, including staff, in regards to this decision immediately. Due to the sensitivities surrounding this disclosure, we will have a limited capacity to respond to queries with regards to all these affairs, although we shall endeavor to respond to all questions directed via the conventional channels. Any requests for additional information by the members of our workforce should be submitted to their corresponding manager in due course. We necessitate your cooperation and understanding at this challenging time.

  • Production Data for the Third Quarter

    Rusneftegaz can announce production results for the third quarter of the year as of and for the three months ended 30 September. These were prepared in accordance with all relevant standards but have not been externally audited. The full results are available to review via the associated section of our website: 

    Oil and Gas: 

    • The total oil production during the period was 1.457.004 barrels. 
    • The average daily production of oil was 15.837 bpd (barrels per day). 
    • The peak daily production through the month was 16.421 bpd. 

    Electricity:​ 

    • The total amount of electricity produced was 1,94 TWh. 
    • At the end of the reporting period, we maintained a power generation capacity of 1.860 MW. 
    • The installed capacity utilized during the period was 47,2%.  

    The details in this article are current at the date of this report and are believed by Rusneftegaz to be accurate and true. All information is disclosed as a summary and does not purport to be entirely complete. The material published is derived from our internal operational reports, with the data that these documents are reliant upon obtained from sources believed by our management to be reliable. However, our organization cannot wholly guarantee the accuracy or completeness of such information and will not be held liable for any errors that have arisen, nor will any of our employees, directors, officers, agents, partners, subsidiaries, or affiliates.

  • Extraordinary General Meeting Cancelled

    The board of directors has opted to cancel a proposed Extraordinary General Meeting later this year after consultations held with stakeholders. The planned summit, which had originally been discussed at the virtual Annual General Meeting held in May, was to offer invited delegates an occasion to meet in-person after the original event was postponed in April. However, after extensive deliberations it is now believed that the continued restrictions on international travel yield significant logistical and operational challenges to coordinating such a conference. In response to this announcement, our Deputy Chief Executive Officer, Aleksandr Filyurin, issued this statement: 

    “It is obviously a disappointment that we will not be able to have a full AGM (Annual General Meeting) this year, but considering the circumstances I think it is understandable. I am pleased, though, that we have managed to adapt to the circumstances and still engaged regularly with our shareholders and other stakeholders. I would like to place on record my thanks to them, as would the rest of the board, for their dedication and focus on the success of Rusneftegaz in this difficult period. We hope that we can emerge from this time stronger than ever, and continue our plans for the future together.” 

    As a consequence, it has been mutually agreed that an Extraordinary General Meeting should be held at the first opportunity if the proposed 2021 Annual General Meeting must take place via video conference next year. In such a situation were to arise, then we shall do our utmost to ensure that all associated parties are informed of this decision in advance of the conference taking place. Whilst we have proactively communicated this with all those we believe to be affected or involved; we invite anyone with any subsequent queries to contact us at their earliest convenience via email or by telephone. We necessitate your cooperation and understanding with this matter.

  • Production Data for the Second Quarter

    Rusneftegaz can announce production results for the second quarter of the year as of and for the three months ended 30 June. These were prepared in accordance with all relevant standards but have not been externally audited. The full results are available to review via the associated section of our website:

    Oil and Gas: 

    • The total oil production during the period was 1.641.549 barrels. 
    • The average daily production of oil was 18.039 bpd (barrels per day). 
    • The peak daily production through the month was 18.612 bpd. 

    Electricity:​ 

    • The total amount of electricity produced was 1,70 TWh. 
    • At the end of the reporting period, we maintained a power generation capacity of 1.860 MW. 
    • The installed capacity utilized during the period was 41,4%. 

    The details in this article are current at the date of this report and are believed by Rusneftegaz to be accurate and true. All information is disclosed as a summary and does not purport to be entirely complete. The material published is derived from our internal operational reports, with the data that these documents are reliant upon obtained from sources believed by our management to be reliable. However, our organization cannot wholly guarantee the accuracy or completeness of such information and will not be held liable for any errors that have arisen, nor will any of our employees, directors, officers, agents, partners, subsidiaries, or affiliates.

  • New York Office to Resume Full Operations

    Rusneftegaz can announce that our office in New York shall resume full operations with a skeleton staff on the 22 June, although the majority of our international employees shall continue to work remotely. When on site, personnel will be required to adhere to distancing measures if meeting in-person, and shall receive comprehensive training in regards to the new procedures. For instances where face-to-face meetings are a necessity, we shall issue and ensure an adequate provision of face masks, hand sanitizer and any other protective equipment as required by state law. Following this announcement, Igor Migunov, who bears responsibility for this part of our business in his capacity of Director of International Operations, give this statement in acknowledgement of this news: 

    “I am very pleased that we will be able to recommence our operations. When we were forced to close in March, we had only just begun trading and we had to adjust to remote operation along with all the other challenges of commencing a line of business. I would like to give special thanks to my colleagues, some of whom had only been working with us for a matter of weeks when they were midway through their induction process when the closure was announced. Their efforts were extraordinary and admirable. I am optimistic now that we shall be able to return to normality and continue with our plans as before. We have all worked very hard so far, but there is still a lot more work left to do.” 

    To offset the staff previously on placement whom have since returned to Russia, management intends to institute a rotating schedule of additional roles for retained employees primarily focusing on maintaining communications by mail and by telephone. Any external parties who wish to speak personally with a member of staff are to be required to make an appointment in advance, either via telephone or email, and to also wear a face covering during the meeting. Our management is welcome to any queries regarding this reopening plan, and wishes to inform all personnel across all sites operated by us that it maintains the highest standards of safety and hygiene, with routine cleaning conducted daily by dedicated cleaning staff. We necessitate your cooperation and understanding this this critical matter.