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1. Oil refining
Path: EVENTS 2011 / OIL REFINING

... output to77%. Company refineries must also achieve international technology standards, including standards that regulate environmental protection and safety. Since 2009, the Company has had aprogram toupgrade and retrofit refining capacity and tobuild... ... fifth among Russian refineries byprimary refining volume and makes awide range ofpetroleum products, from high-octane gasoline tohigh-quality bitumen (more than 100 items intotal). Refining depth in2011 was 65.6%, and light petroleum products were...


2. Key Risk Factors
Path: MD&A / KEY RISK FACTORS

... environment. This may give rise tocivil law liability and require action toeliminate such damage. The Company isfully aware ofits responsibility before the public, and its obligation toensure safe working conditions and protection ofthe natural... ... servicing. Higher borrowing costs may have anegative impact onthe Companys solvency and liquidity ratios. The LIBOR rate iscurrently onamodest upward trend, but the need for further growth stimulus inthe world economy makes the probability ofsubstantial...


3. Environmental Safety
Path: Social Responsibility / ENVIRONMENTAL SAFETY

... Aspart oftheir environmental safety programs, Company subsidiaries and associates are carrying out laboratory control ofthe quality ofsurface waters and ground water, design work onenvironmental protection zones for water intake wells, purchase ofboom guards and installation ofjetty facilities for cargo handling, aswell asconstruction, repair, and servicing oflocal purification plants...


4. Glossary: Key Terms, Definitions &Acronyms
Path: Appendix / Glossary

... Latvia and Lithuania. CNG Compressed natural gas. Coking Refining of liquid and solid fuels by heating them in the absence of air. As the fuel decomposes, it produces solid coke and volatile particles. DTS Digital trading site. DSEM Differentially specific... ... based on the market situation and rational use of modern equipment and technologies, and taking into account requirements for protection of mineral deposits and the natural environment. Explored reserves of gas in categories ++ 1 are viewed as fully recoverable...