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  • Director of Trading Appointed

    Rusneftegaz can today announce the appointment of Dmitri Kozhevnikov as our first Director of Trading, whose work will begin work with immediate effect. This new position has been created in lieu of our wider international expansion program, with our plan to commence trading oil set to be implemented imminently. Following his appointment, Kozhevnikov remarked: 

    “I am extremely grateful for this opportunity to work for Rusneftegaz. Once I spoke to Igor Migunov and Vitaliy Kalyuzhniy, I was excited to join this project and realized the potential Rusneftegaz has to expand and grow. I look forward to working with the team here at Rusneftegaz to ensure this project is a great success.” 

    To date, Kozhevnikov has enjoyed an illustrious career taking him across Europe, where he has accumulated a voluminous amount of experience and knowledge of the petroleum market, that ultimately we intend to utilize to our benefit. He joins Rusneftegaz from a leadership position at one of the largest private commodity trading companies in the United Kingdom, where his work was highly regarded by his contemporaries. During this time, he has successfully conducted business with numerous individuals and entities throughout the oil industry, including Rusneftegaz, both in the purchase and sale of both crude and refined products. In response to Kozhevnikov joining our organization, our Deputy Chief Executive Officer, Aleksandr Filyurin, remarked: 

    “I am honored to welcome Dmitri to our organization. We have known and worked with him for a long time, and know how reliable and diligent his work is. When we decided that we needed to appoint a new directorate to manage our trading business, we decided it would be best if we could recruit someone who we already knew and worked with. When we asked Dmitri if he was interested, we were delighted when he said that he was. Let us be honest, he is taking on a difficult task here, building a new business from the beginning is always going to be a difficult challenge, regardless of how well resourced it is. That said, there is no doubt in my mind that Dmitri has all the right credentials to make this work, and I am optimistic that he can build a lasting and successful team that is with us long into the future.” 

    In the months ahead, Kozhevnikov will be tasked with finalizing the establishment of our international trading hub, which is set to begin business early next year. Once this first phase has concluded, the new Director of Trading will be tasked with creating a network of partners to facilitate the growth of this particular operation. Not only does this include the buyers and sellers of commodities, but also the inspectors, port officials, and terminal staff, in conjunction with the pipeline, rail and tanker companies that physically transport the product. Kozhevnikov, with the support of the team has assembles, will interact with these parties on a daily basis to ensure the swift and secure movement of goods across the globe. 

    To fulfill this role, Kozhevnikov will collaborate and coordinate with his immediate superior, Igor Migunov, who currently serves as our Director of International Operations after ascending to the role earlier this year. Both men have collectively been given a degree of autonomy by the board of directors to construct an enterprise that they believe will drive significant increases in revenue from this venture. This does not solely include domestic sales within the Russian Federation, but also in countries and regions where Rusneftegaz is yet to conduct activities, such as in East Asia. For instance, this may include commencing trading on alternative and foreign commodities exchanges when and where necessary. All further updates regarding these operations will be published in due course, and any vacancies that arise will be advertised both on this website and via our local partners at an appropriate time.

  • 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 1.412.138 barrels. 
    • The average daily production of oil was 15.518 bpd (barrels per day). 
    • The peak daily production through the month was 16.002 bpd. 

    Electricity:​ 

    • The total amount of electricity produced was 2,49 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 61,3%. 

    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.

  • Website Maintenance Scheduled

    We can announce that the service on this website may be interrupted on 12 July due to a planned outage for routine maintenance and minor aesthetic upgrades, with our technicians endeavoring to minimize the total downtime. All information that was previously published will continue to be available immediately thereafter, with additional changes and rejuvenation expected in the months ahead to correspond with our broader expansion strategy. Whilst all those amendments will not require any disruption, it was mutually agreed between the directors responsible and the associated engineers that a temporary pause seven days from today was conducive to their productivity and effectiveness. The updates that are scheduled to take place in one-week principally pertain to backend functions, and thus users are unlikely to notice any significant adjustments. However, it is vital that we also confirm that all email services will function as required during this period, as will all other modicums of communication that we offer. Although this may briefly inconvenience all those who utilize our site and its resources, we necessitate your cooperation and understanding with this matter. 

  • Exclusive Acquisition Talks Begin

    Rusneftegaz can confirm that we have entered into private negotiations with an undisclosed Indian company to acquire a portfolio of coal-fired power stations in the country. These talks, which have an exclusivity period of six months, will begin immediately to find a mutual agreement on the sale of the assets. The discussions will be led on our side by our newly appointed Director for International Operations, Igor Migunov, with oversight maintained by our management board. Meetings are scheduled to be held in both Moscow and Mumbai on a regular basis over the next twenty-six weeks, in conjunction with virtual conferences on the internet when appropriate. In due course, we will also be assembling a technical delegation to conduct a comprehensive inspection of the sites with both our staff and a pool of external experts, who will report their findings back to our executive leadership. Prior to this announcement, our Deputy Chief Executive Officer, Aleksandr Filyurin, remarked: 

    “We are delighted by the opportunity we have to work in India, a great country with enormous potential for growth in the energy sector. When we discovered that such a large block of power capacity was available, we all knew that we had to capitalize. We have been looking for a project like this for a long time, and fortunately the timing has worked out in our favor. As we did more research into the finer details of the proposals, we discovered that there is an abundance of plants that are available, be that old plants, retired plants, or just plants that have never been fully installed or fully utilized. We hope this can be the catalyst for our growth in Asia. From our preliminary talks so far, we are increasingly confident that we can come to a suitable arrangement. It will be a long and challenging set of negotiations, mainly because we have never tried to purchase such a complex set of assets before. That said, the board and I have absolute faith in Igor to get this over the line. He has done some outstanding work in the time since his promotion, and he deserves an exceptional amount of credit for setting this up in such a short timeframe. I hope that I will be able to report back to you in six months with some positive updates.” 

    Since our current board of directors elected to change our business strategy in 2015, it has been the ambition of our organization to not only develop our business further internationally, but also expand our power operations. There is collective belief among our leadership that this particular area of our business has significant potential for sustainable and long-term financial growth. This is partially as a result of the extensive efforts of our research and development engineers, who have worked on improving and enhancing contemporary electricity generation technologies and methods for the past decade. It is also due to the innate opportunities presented by the Indian electricity market, which is the third largest in the world, but is in urgent need of foreign investment. Whilst the country maintains a surplus of power generation capacity, it lacks the associated infrastructure to fuel and transmit from these plants. It should also be noted that the sites that are presently functioning across the nation are often older, aging stations that rely upon inefficient technologies. These are both financially costly to maintain and operate, but are also responsible for significant quantities of pollution. Our management remains optimistic that our proposals will be able to rectify these issues by providing the inward funds necessary to develop the sector, whilst accruing considerable profits from these new potential revenue sources. However, whilst we remain willing to provide the funds necessary to complete both the purchase and overhaul of such facilities, this transaction may be subject to and conditional upon local regularity approval, which may interfere with these plans. Rusneftegaz will not be making any further statements on this matter until an appropriate time, primarily due to the restrictions and limitations imposed by the confidentiality agreements that have been signed by members of our organization as to what can be disclosed in public.

  • Production Data for the First Quarter

    Rusneftegaz can announce production results for the first quarter of the year as of and for the three months ended 31 March. 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 1.346.310 barrels. 
    • The average daily production of oil was 14.959 bpd (barrels per day). 
    • The peak daily production through the month was 15.722 bpd. 

    Electricity:​ 

    • The total amount of electricity produced was 2,07 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 51,5%. 

    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.

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