Rosneft’s President Completes Business Trip to the Krasnodar Territory

Rosneft-Kubannefteprodukt sales company, and the Rosneft’s regional research and technology center Rosneft-NTTs.
The meetings reviewed the preliminary results of the companies’ operations in 2010, drafted business plans for 2011, and discussed the construction progress at the Tikhoretsk-Tuapse oil pipeline for supplying crude oil to the Tuapse Refinery. The meeting also centered on preparation of the company’s distribution network for the 2014 Olympics and outlined the plans to increase the efficiency of Kubannefteprodukt’s sales network and streamline the non-core business.
Following the meeting, Eduard Khudainatov dismissed the General Director of Krasnodarneftegaz Nikolay Kovalev, and three of his deputies from their positions for failing to reach performance targets (particularly in oil production) and take timely measures to prevent deterioration of the company’s performance. The head of Rosneft’s representative office in the Southern Federal District Victor Gladskoy was also removed from his position.
At the meeting Rosneft President stated, “Similar staff measures will be directed at managers of subsidiaries unable to meet business targets and take timely measures. Such managers will be replaced by more efficient ones”.