Address by the Chairman of the Board of Directors and the President
Annual report JSOC Bashneft 2013
6
Some definitions and information on forward-looking statements
Annual report JSOC Bashneft 2013
7
Some definitions and information on forward-looking
statements
In this Annual Report the terms “Bashneft”, “we”, “Bashneft Group”, and “the Group” in various forms refer
to JSOC Bashneft, its branches, subsidiaries and structured enterprises. The terms “JSOC Bashneft” and “the
Company” refer to JSOC Bashneft.
“Ufa Refinery”, “Novoil”, “Ufaneftekhim”, “Bashkirnefteprodukt” and “Orenburgnefteprodukt”, when referring
to the period before the reorganisation in 2012, mean JSOC Bashneft’s subsidiaries consolidated with the Compa-
ny, namely OJSC Ufa Refinery, OJSC Novoil (OJSC Novo-Ufimsky Refinery), OJSC Ufaneftekhim, OJSC Bashkirneft-
eprodukt and OJSC Orenburgnefteprodukt respectively; after the reorganisation, these are respective branches
of JSOC Bashneft.
Unless otherwise stated, financial indicators covered in the Annual Report are presented and calculated on the ba-
sis of consolidated financial statements under IFRS and correspond to the results disclosed in the Management’s
Analysis of the Financial Position and Operating Results of Bashneft Group. Information regarding operating re-
sults presented in this document is consolidated data on Bashneft Group.
Certain statements in this Annual Report may contain assumptions or forecasts concerning future events within
Bashneft Group. These statements may contain the words “is expected”, “is estimated”, “intends”, “will”, “could”,
negations of these expressions or other similar expressions. These statements are only assumptions. Actual
events and results can differ substantially from those stated. The actual performance of Bashneft Group may differ
materially from what is declared in our assumptions and forecasts as a result of a large number of factors. Such
factors may include general economic conditions, Bashneft’s competitive environment, risks related to operating
in Russia, rapid technological and market changes in the Group’s areas of business, as well as many other risks
directly related to Bashneft Group.
The Group uses a barrel to tonne conversion factor of 7.3. Data on reserves are based on the audit of reserves car-
ried out by Miller and Lents, Ltd. in accordance with the international PRMS classification and are presented using
the average barrel to tonne conversion factor of 7.11. When assessing contingent and prospective oil resources
at the Trebs and Titov fields, Miller and Lents used a barrel to tonne conversion factor of 7.45.
Sums in tables, graphs and schemes may not add up due to rounding.
