News

Rusneftegaz can announce that it has made comprehensive upgrades to our technological security following a series of attempts to attack our computer systems, including our website and online employee portals, in recent weeks. Whilst none of these incidents resulted in either a data breach or our site being inaccessible, management has elected to respond quickly to the situation, foremost by requesting assistance from external parties to fortify our protections against such aggression. For instance, our website has been routinely subjected to denial-of-service cyber-attacks, ultimately with the intent to disrupt the service on our network-based resources by inundating it with superfluous requests, often by using bots. Such hostile acts are conducted to attempt to overload the computer systems, preventing regular users and from accessing them temporarily, or in the most extreme instances, permanently. 

However, the decision to expedite these improvements was made after one notable effort that saw the criminals endeavor to access the personal data of our staff, which fortunately was unsuccessful. Although Rusneftegaz retained strong and robust safeguards against such incursions prior to this episode, the malignant nature of this particular attack was perceived by management to be so appalling that remedial action was necessary immediately. Under the terms of our policies regarding data protection, Rusneftegaz will never compromise on the security of the personal information of our personnel or our partners, and these recent occurrences highlighted to our management that if similar or greater transgressions were perpetuated in the future, our defenses may not be so vigilant. 

Simultaneously, the board of directors has also opted to temporarily remove certain contact details from our website following a considerable volume of abuse being directed towards our employees through these channels in recent times. Anyone wishing to communicate with us in the immediate future should do so by email via inquiries@rusneftegaz.com, or the form on our website. Please be aware that all electronic messages and telephone calls will now be subjected to enhanced screening, and may not be delivered to the intended recipient. Similarly, all those who work for Rusneftegaz will additionally be receiving a briefing in the next week with regard to new and amended policies in relation to these adjustments. For example, our entire workforce is to be instructed to examine whether there are adequate physical records of key information that would otherwise be considered necessary for the day-to-day functioning of our operations. Whilst this is expected to take some time, the board of directors believes it is a vital step to guarantee that our business can operate regardless of circumstances. Due to the necessity for the details of these changes to remain confidential for security reasons, Rusneftegaz will not be accepting questions pertaining to these developments.

The board of directors can announce that it has approved the latest revisions to the current investment program, originally due to be instigated between 2020 and 2024, which should result in Rusneftegaz increasing investments to exceed pre-pandemic margins of expenditure. The initial plan was suspended during the first six months of the crisis, and was ultimately altered significantly twelve months ago to accommodate reduced cash flows. When such changes were instigated, management believed it was necessary to mitigate the costs of the health emergency via reductions in spending, with such decisions being made at a time when there was no foreseeable end to the pandemic. Another major factor considered by the board was the delay of various works, due to both postponements and cancellations in 2020, in addition to the announced reduction in spending, indicated that the fulfillment of the five-year program was highly improbable. However, a further review has now been completed, accounting for significant changes in circumstances since the previous assessment, with management electing to postpone a formal announcement of any approved changes until the preferred resolution could be confirmed. It was believed that an announcement would be made late last year, but the board elected to defer decisions until all aggravating and mitigating circumstances could be analyzed accordingly. This included the cessation of severe medical restrictions afflicting our operations, and also the accumulation of significant cash reserves as a consequence of the prudent preservation of capital during the prior two years. In response to this statement, our Deputy Chief Executive Officer, Aleksandr Filyurin, delivered the following remarks: 

“I am very pleased that we are able to announce that our investment program is to resume. After we announced that remote working was to end a few weeks ago, it is sensible to do all we can to return to the normality of the pre-pandemic world. We have a lot of big plans for the future, and the delays of the last few years have done a lot to try and sabotage them. To be direct with you, it is vital for the long-term prospects of Rusneftegaz that we complete all these plans to be best of our ability. From a personal perspective, I would like to thank my fellow board members for giving their support to the revised version of this plan, and also to our shareholders who are prepared to increase the funds invested in this company to help us complete the time to its original schedule. I believe that together, we will all be able to make this work, and we will all prosper because of it.” 

Under the latest version of the investment program, we will now expend a similar amount of funds to the values projected in the original version of the plan, albeit in an expedited manner. For example, certain projects that previously would have been organized concurrently will now be arranged simultaneously where possible, although the realization of specific constituents of the strategy will be delayed until after the next formal investment proposal is finalized in 2024, and not all schemes will be completed by the end of the current program. Under the latest version, key tenets of the original plan are retained, including the expansion of our international trading office to commence global commodities trading, and a budget allotted to further pursue the international expansion of our energy division with the acquisition of additional power generating capacity. The majority of funds will nonetheless, continue to be directed to the renewal of existing production assets, although management has resolved to prioritize the purchase of equipment and services deriving from the Russian Federation. Any questions regarding this announcement should be directed via email or telephone. We necessitate your cooperation and understanding with this matter.

Rusneftegaz has set forth a comprehensive plan to end permanent remote working across all company sites and locations as soon as practicable, with all office-based personnel expected to be functioning from their conventional places of work at least two days per week by the beginning of April. Whilst a significant percentage of staff have returned to their regular place of work voluntarily, management now believes it is now an appropriate time to begin to return to pre-pandemic normalcy. After an extensive internal consultation, it has been determined that the vast majority of our employees elected to be vaccinated, and data collated rigorously since March 2020 indicated that workers in an office are more efficient than their colleagues whom complete their roles from elsewhere. Likewise, tasks organized in a professional environment allow for greater analysis, subjectivity and collaboration between workers, and also for assignments to be finished expediently when compared to those working remotely. Whilst certain staff shall only visit their workstations two days per week initially, management is set to install a phased plan for a full return to the pre-2020 regimen, regardless of employee vaccination status, unless local regulations otherwise dictate. In response to this announcement, our Deputy Chief Executive Officer, Aleksandr Filyurin, gave this statement: 

​“From a personal perspective, I am delighted that we are able to announce a permanent end of the remote working arrangement. We originally intended to try and end this last year, but obviously that was impossible from a health perspective. We have observed that for the majority of our staff who have made use of our remote working arrangement that their productivity has been much worse than working in an office environment. Now, there are many reasons for this, and I am not going to blame anyone in particular, but this needs to end, and it needs to end completely. We are obviously willing to accommodate some of our staff who are more hesitant to return to normality for health reasons, but fortunately this is rare, and we think there are alternative remedies for this. Like I said, I am very pleased with this announcement, as we all are, and I hope that I am able to provide you with another update soon as we look to bring this period to an end.” 

By the beginning of April, it is anticipated that a sizeable majority of all our personnel shall be at their workstations full-time, although a staged approach may be available in certain instances at the discretion of local directors for those unable to return. Those who are returning should be reassured that management continues to maintain meticulous systems to guarantee employee health, for example, the fastidious and thorough cleaning regime implemented at the onset of the crisis is to be retained for the foreseeable future, and it has been undertaken that site managers will continue to ensure all workplaces are well ventilated. Whilst, certain coronavirus mitigation measures are to be abolished, those who contract coronavirus will be expected to work remotely or take sick leave accordingly. However, we will no longer be conducting temperature checks upon arrival in locations where this practice has continued to be mandatory, and staff will be advised to wear facial protection, such as a mask, visor or covering, in lieu of a company-wide mandate. Similarly, management intends to remove distancing provisions, such as transparent barriers, from all sites unless staff specifically request otherwise. Across all locations, it will become the prerogative of the employee to decide if they wish to remain apart from their colleagues, but Rusneftegaz will not accommodate unreasonable requests to preserve distancing measures. Any employer queries regarding these changes should be directed towards their corresponding manager, and we necessitate your cooperation and understanding with this crucial matter.