Message from the Chairman of the Board of Directors
Dear shareholders and investors,
In 2018, our Company continued to implement one of the most ambitious strategies in the industry - Rosneft - 2022. Due to diligent efforts of the Company’s management and employees, we managed to increase business profitability, improve the quality of project management and corporate culture, and enhance our technological capabilities.
During 2018, the Board of Directors has maintained continuous contact with the executive bodies regarding key management matters. The Board of Directors focused on the issues of risk management and audit, assessment of performance of governing bodies’ members, accelerated technological development, KPIs monitoring, etc.
The Board of Directors understands the Company’s role and responsibilities in the Russian and in the world economy. We are giving considerable attention to the security matters, introducing the best risk management practices and training methods for the Company’s employees and our counterparties.
Sustainable development is our strategic priority. In the reporting year, the Board of Directors reaffirmed its commitment to the UN sustainable development goals. We firmly intend to pursue this course to enhance the Company’s advantage as a responsible world energy leader.
In 2018, the Technological Council was established comprising the Board members, representatives of leading research institutes, businessmen, and innovation and technology experts. The Technological Council is an advisory board aimed at promoting the Company’s development strategy in technologies and innovations.
The Company is one of the major issuers in the Russian stock market. With our shareholders in mind, we expand our portfolio of assets, improve management efficiency and quality of corporate governance:
- in 2018, the Company has ensured a high level of dividend payout;
- the Board of Directors approved the share repurchase program intended for market price support.
We mean to continue taking steps for long-term sustainable growth of the Company’s shareholder value.