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1. ADDRESS TO SHAREHOLDERS, INVESTORS& PARTNERS
Path: Company /  ADDRESS TO SHAREHOLDERS, INVESTORS & PARTNERS

... proportional effect onfinancial indicators, which were the best-ever inthe Companys history in2011. Our revenues in2011 grew by34.3% toUSD 44,189mn and net income ofUSD 5,352mn was70% higher than in2010. Having achieved these record results, weare... ... isarecord level for the Company. Gazprom Neft remains committed toabalanced financial policy, using operating cash flow for further business development, while atthe same time maintaining one ofthe highest dividend payment levels inthe industry...


2. Development Strategy
Path: Company / DEVELOPMENT STRATEGY

... Operating performance improved year-onyear innearly all segments. Production grew by8%, refining by7% and premium sales by38%. The performance was helped byastable macroeconomic environment asthe world economy continued torecover from the 2008/2009 ecnomic... ... rarely used infield development projects inthe Russian Far North before now). Wewill also create anefficient oil and gas transportation infrastructure which can beused inthe future infields where development rights have not yet been allocated; Implementation...


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

... financial performance directly relates toprices for crude oil and petroleum products. The Company isunable tofully control the prices ofits products, which depend onthe balance ofsupply and demand inglobal and domestic markets for crude oil and petroleum... ... while the other part (its share isnot fixed and may change) has nofixed interest rate and can vary. Any increase inthe latter rates could lead tohigher costs ofdebt servicing. Higher borrowing costs may have anegative impact onthe Companys solvency...


4. Company History
Path: Company / Company History

... Omsknefteprodukt. 19961997 The Russian Government privatized Sibneft as part of a programme to promote development of a market economy. Private investors bought 49% of Sibneft stock at auctions in 1996. In 1997 the Financial Petroleum Company won an... ... subsequently, on May 13, 2006 the companys name was changed to JSC Gazprom Neft. The new strategic objectives of Gazprom Neft were to become a global company with regionally diversified assets along the entire value chain. 2006 Gazprom Neft entered the retail...