26.10.2010
Results of BoD Meeting
歐洲冠軍聯賽賽程 OPTIMIZES REFINING & MARKETING BUSINESS SEGMENT
A meeting of OAO 歐洲冠軍聯賽賽程 Board of Directors dedicated to summarizing the Company鈥檚 performance in the sphere of refining and marketing and approval of key development areas in this business segment for 2011-2012 took place in Istanbul today.
Under the approved plans, the Company鈥檚 oil refining complex will focus on lower costs and power consumption, higher efficiency of capital expenses and maximum use of oil-refining capacities in Russia.
Among other things, the meeting emphasized that the segment revenues are growing while expenses are declining. The Company鈥檚 capital expenses in refining and marketing came to USD 532 million in the 1st half of 2010, which is by 12.4% lower than the similar figure in 2009.
In 2009, the operating expenses and the total purchase costs in the Refining, Trading & Marketing Business Segment were reduced by 16.6% as compared with 2008.
The sales volume of petroleum products via the 歐洲冠軍聯賽賽程 Group sales network remains stable; it came to 6,685 thousand tons in the 1st half of 2010. At the same time, the sales volume of EKTO motor fuels is growing steadily, with its sales geography constantly expanding both in Russia and beyond. In 2010, 歐洲冠軍聯賽賽程 introduced EURO-5 compliant diesel fuel to the Russian retail market.
Information provided in this press release presents expected results of OAO 歐洲冠軍聯賽賽程 operations in 2010. It was generated based on the latest preliminary operational and financial data which hasn鈥檛 been financially audited. The information represents preliminary assessment only, which can be adjusted after statistical, financial, fiscal and business reporting becomes available. The information on the 歐洲冠軍聯賽賽程 Group operating results in this press release depends on many external factors and therefore, provided all permanent obligations imposed by the London Stock Exchange listing rules are unconditionally observed, cannot qualify for accuracy and completeness and should not be regarded as an invitation for investment. Therefore, the results and indicators achieved in reality may significantly differ from any declared or forecast operating results in 2010. 袨袗袨 歐洲冠軍聯賽賽程 assumes no obligation (and expressly declares that it has no such obligation) to update or change any declarations concerning any future.