Annual Report JSOC «Bashneft» 2013 - page 4-5


Annual report JSOC Bashneft 2013 2

Annual report JSOC Bashneft 2013 3
Corporate governance
Improving the corporate governance system 101
Corporate Governance quality audit 103
Corporate Control Element Structure 104
General Meeting of Shareholders of JSOC Bashneft 106
Board of Directors of JSOC Bashneft 108
Committees of the Board of Directors of JSOC Bashneft 122
Corporate Secretary of JSOC Bashneft 128
President and Management Board of JSOC Bashneft 129
Resolving possible conflicts of interest among members of JSOC Bashneft management bodies 139
Internal control and audit 141
External audit 142
Plans to develop the corporate governance system 143
Appendices
Consolidated IFRS financial accounts of Bashneft Group for 2013 145
Energy efficiency 215
Key risk factors 216
Information on the observance of the Code of Corporate Conduct 222
List of major and related-party transactions 230
Glossary of terms abbreviation 238
Other 239
Contents
Address by the Chairman of the Board of Directors and the President 4
Some definitions and information on forward-looking statements 7
Our success in 2013 8
Competitive advantages that ensure we achieve our potential 9
About the company
Our history 11
2013 highlights 12
Business model and geography 14
Industry position and macroeconomic factors 18
Strategy and KPIs 23
Our risks 30
Health, Safety and Environment 34
Personnel and social programmes 36
Operating results
Licensing, geological exploration and reserves 39
Launch of production at Trebs and Titov 46
Other areas in Nenets Autonomous District 49
Foreign projects 50
Production 52
Refining 57
Marketing 68
Financial results 75
Information for shareholders and investors
Changes to the Group’s structure 81
Shareholders equity 90
Equity market and market capitalisation 92
Dividend policy and distribution 95
Information disclosure and investor relations 97