4 stars based on
It successfully completed an integrated transaction involving the privatization of This is the largest privatization transaction in the history of Russia and the largest transaction in the oil and gas industry in Following the acquisition of Bashneft, the market expects the integration of its assets to make a significant synergistic impact, in particular, by optimizing mutual oil supply, transportation and logistics costs, reducing the cost of drilling services, sharing infrastructure for upstream operations, modern technologies and know-how.
This effect will be quickly and effectively monetized as Rosneft has much experience in successful integration of major oil and gas assets. Rosneft not only survived this gas and energy trading sa annual report year but also demonstrated a steady growth in performance against the backdrop of unparalleled price volatility. Rosneft set another record in hydrocarbon production of more than million tons of oil equivalent in We remain the largest public oil company. The past year was marked by a number of events which proved to be meaningful achievements for the Company.
Our Company completed a number of key acquisitions, producing the aggregate synergetic effect in excess of RUB 27 bln. InRosneft continued the successful implementation of its ambitious strategic initiatives, proving that the objectives it has set for itself in all spheres of business are attainable. Full consolidation of this highly efficient company with its quality assets will make Rosneft the largest publicly traded oil company in the world, increase the scale of its gas business, and optimize supply and marketing channels.
The Company finished with outstanding operating and financial results. We also began implementation of a number of strategic initiatives, which have already yielded positive results in the reporting year.
Rosneft saw many changes increating new points of reference for the Company. The main priority gas and energy trading sa annual report Rosneft in was to minimize impact of the global financial crisis on Company business. We focused on optimizing costs and raising efficiency across the board. Effective planning and a flexible management system carried our business through the particularly difficult first half ofand helped to achieve good operating and financial results in the full year.
Rosneft's operating and financial results in were excellent once again. Concerted and productive work by all divisions helped the Company to overcome the extremely difficult fourth quarter and pursue implementation of growth strategy, with special attention to further increasing flexibility and general business efficiency.
Efficient management systems and widespread application of advanced technology ensured that Rosneft now ranks first among publicly traded oil companies on a whole series of key operating metrics.
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