Company History

​The company that would one day evolve into Rusneftegaz was first founded in 1999, to facilitate the acquisition of the Losinovskoye oil field in Ukhta, the Komi Republic. Following further investment, the Group rapidly increased in size with the purchase of further petroleum deposits across the Timan-Pechora basin, which over the following decades would evolve into the main production base of the new company. In its formative years, Rusneftegaz did not solely focus on petroleum and energy, but accumulated a broad range of investments across many industries. This strategy, however, was to prove consequential for the business and in 2005, it was decided that the Group would have to curtail its operations outside the scope of petroleum and power for the long-term benefit of the company. This decision was to prove pivotal, and in the years thereafter Rusneftegaz began a prolonged period of rapid growth.

​During this timeframe, the company invested in numerous oil projects and accrued a significant portfolio of assets from major local and international petroleum producers operating in Russia. Consequently, Rusneftegaz continued its exceptional growth and ultimately managed to maintain its independence, despite many other Russian oil companies being absorbed into larger groups, and a worldwide financial crisis in the late-2010s. Extraction rates escalated substantially and the Group’s power generation business continued to thrive, reaching a peak in 2012 when Rusneftegaz’s then-managers opted to a buy a fleet of oil tankers to facilitate international exports. It was during this period that the company truly established itself as the largest independent petroleum producer in the Russian Federation, culminating in Rusneftegaz executives travelling the globe representing the group in meetings with both government ministers and senior officials from major international oil companies.

​This is due to the fact for the entirety of our history, Rusneftegaz has been headquartered in Moscow, the capital of the Russian Federation and an economic center between Asia and Europe. The city provides Rusneftegaz with the opportunity for collaboration with leading companies and major research institutions working in the oil industry. Moscow also offers the Group the opportunity to recruit candidates of unparalleled quality, and provide training to industry-leading standards to ensure the highest levels of efficiency and workmanship. Rusneftegaz has always ensured employee safety, as well as guaranteeing compliance with all rules and regulations, through the continued deployment of qualified, educated and experienced staff.

​In recent times, Rusneftegaz has focused on the development of its existing assets, instead of expanding its portfolio through further acquisitions. The Group also continues to operate its affairs in a demure, modest and unassuming manner, ultimately preferring to focus our resolve on achieving results and success instead of reveling in earned glory. As an ambitious and modern company, Rusneftegaz has continued to be successful in the fulfillment of our obligations to our key stakeholders, not limited to, but including our staff, partners, affiliates, subsidiaries and shareholders, but also the state, federal government, customers and the wider public-at-large. Company directors and managers accomplish this by deploying advanced technology in its production programs, using all resources rationally and appropriately, and by maintaining the highest standards for economic and social development. This includes sustaining the best environmental and safety practices available, and continuing to maintain Rusneftegaz’s transparency and ethics to ensure proper corporate governance.

​Currently, Rusneftegaz is led by a skilled team of directors, who during their professional careers have accumulated decades of combined experience whilst working in countries around the world. The aspiration to work only with the best and most knowledgeable personnel has ensured that our organization has always prospered, regardless of any changes in commodity prices or prevailing economic conditions. These appointments have also assisted Rusneftegaz with the fulfillment of our strategic goals; in recent times this has included developing a comprehensive plan to commence physical commodity trading at a new base in New York, but also create an approach to mitigate the effects of the coronavirus pandemic on the company and our employees. As an exceptionally ambitious organization, in the future this will also include assisting us with realizing our long-term vision for our company, including continuing the modernization of existing production capacities and rapidly expanding our international petroleum trading business. Rusneftegaz has always exerted and held a strong interest in the future of energy and continues to do so, ultimately striving to become a global leader in the industry.