04.07.2006
"Interfax"
Moscow, July 4. Interfax-ANI – At the annual meeting on June 27 the shareholders of Oil Company RussNeft OAO made the decision to withhold payment of the 2005 dividends and use the surplus earnings in the amount of 4.143 billion roubles for development, the company says in an official statement.
During the meeting the shareholders approved the annual report and annual financial statements.
The shareholders appointed Russfin Group OOO as the auditor of the joint-stock company for 2006.
RussNeft is a vertically integrated oil holding company ranking among the ten oil and gas majors of Russia. In the structure of RussNeft there are 25 upstream companies, and downstream companies including a retail network with petrol stations found in 13 regions of Russia and CIS. The total recoverable reserves of RussNeft exceed 600 million tons.
