Rusneftegaz can announce production results for the first quarter of the year as of and for the three months ended 31 March. These were prepared in accordance with all relevant standards but have not been externally audited. The full results are available to review via the associated section of our website: 
  
Oil and Gas: 

• The total oil production during the period was 1.545.271 barrels.  
• The average daily production of oil was 16.981 bpd.  
• The peak daily production through the month was 17.562 bpd.  

   
Electricity: 

• The total amount of electricity produced was 2,19 TWh.  
• At the end of the reporting period, we maintained a power generation capacity of 1.860 MW.  
• The installed capacity utilized during the period was 54,5%.  

   
The details in this article are current at the date of this report and are believed by Rusneftegaz to be accurate and true. All information is disclosed as a summary and does not purport to be entirely complete. The material published is derived from our internal operational reports, with the data that these documents are reliant upon obtained from sources believed by our management to be reliable. However, our organization cannot wholly guarantee the accuracy or completeness of such information and will not be held liable for any errors that have arisen, nor will any of our employees, directors, officers, agents, partners, subsidiaries, or affiliates.

With Rusneftegaz preparing to mark our 25th anniversary year in the months ahead, we are delighted to announce that we will be unveiling a major rebranding of our corporate identity on 1 April, with the new design set to be presented at our Annual General Meeting later in the week. Our board of directors, who were responsible for and approved these changes, believes that such an occasion is the perfect opportunity to redefine our image for the future. As a rapidly growing enterprise, we aspired to make our logo and colors wholly unique to our organization, particularly after it was noted that our red and black scheme was somewhat similar to those of our competitors within this industry. In response to this announcement, our Deputy Chief Executive Officer, Aleksandr Filyurin, issued the following statement:

“I am incredibly happy with the changes that are due to be made. The board and I have been considering making this change for a long time, and to finally see it come to fruition is amazing. I would like to put on record my thanks to everyone who worked hard to make this happen. We are obviously not a major design agency, but it looks as if it was designed by one. This change is very important for us, as it is an opportunity to refresh our brand so that it better reflects the type of company we are. We are a company with strong values and major aspirations, and we need a logo that reflects that strength. I hope that this rebrand marks the dawn of a new era for Rusneftegaz, one where we are even more successful than we are already.”

As the first update to our image since 2014, the revised branding itself has been designed to signify our dynamism as an enterprise, with our new insignia intended to make a striking impression against its background. Our color scheme will also be changed to be brighter and bolder, with the muted palette from before abandoned in favor of bright orange and a tonal black. Whilst our current logo is a modernized version of its immediate precursor, our next mark is an entirely new creation, only paying homage to its predecessors. It has been created internally by our staff, in consultation with external partners, and is scheduled to be fully launched over the coming months. This includes, but is not limited to, any necessary adjustments to uniforms, which will be provided to affected employees at no cost. Any queries regarding this bulletin from our personnel should be directed to their manager, and any other inquiries may be submitted by email or telephone. We necessitate your cooperation and understanding as these developments take effect.

Following extensive talks with a number of our key stakeholders over the past six months, it has been resolved that we will organize a comprehensive review into our current corporate structure, ultimately contemplating both the extent and nature of any changes that could be formalized in the future. This has been instigated at the request of our majority shareholder, which has asked our board of directors to form an exploratory committee with the authority to make recommendations to our leadership in due course. As a result, it has been decided that our Deputy Chief Executive Officer, Aleksandr Filyurin, will take charge of this new commission, with the remaining members being appointed from both within and outside Rusneftegaz. As an organization, we feel that composing the panel in such a manner shall enable it to gain expertise from third parties, while also accounting for factors that are unique to our corporation. This is not limited to, but includes, our rapid economic development over the past decade, and the complexities of our multifaceted production activities. In response to this announcement, the head of the body overseeing this report delivered these remarks:
 
“Firstly, I would like to thank my fellow board members for appointing me to this important role. I have worked for Rusneftegaz for a long time now, longer than I have worked with any other company, and I have seen it transformed from a local oil producer to a global energy company. To be honest, it has been a remarkable change, and a lot of us had to hard to work very hard to make it happen. Now, it is time to look at where we are at, not only within this industry, but within the wider world. When these talks started taking place last summer, the rest of the board and I agreed that what was being proposed was sensible and could work. To be honest, the company we have built in our time here does not resemble the company that existed when we first started out on this project, and it is time to acknowledge that. If we want to take what we have done any further, we need to make changes. These are exciting times ahead for us, what we are planning to do can take Rusneftegaz to the next level, and I promise that I will work with diligence and speed to submit my report as soon as I can.”
 
Whilst this examination is set to be a significant undertaking for us, it should be noted that it has been almost a decade since our last major restructuring. In later times, Rusneftegaz has undergone a consequential transformation, with a plethora of new interests that have emerged in the years thereafter. It is also set to occur in the midst of our quarter-centenary celebrations, and is thus an apt moment to reflect upon our previous achievements, and contemplate how to advance our progression in both the near and distant future. This ultimately entails deliberating fundamental issues, such as whether there should be greater separation between the incumbent board of directors and our executive leadership, and if independent directors should be appointed to the former. Similarly, it also involves scrutinizing the suitability of any corporate partners or individual that has the capacity to facilitate the plans we delineate, and how soon these could take effect. Any investigations surrounding our global affairs will be the responsibility of Igor Migunov, who currently serves as our Director of International Operations, and will join Filyurin on the panel completing this task. Following his appointment, Migunov gave this statement:
 
"I am very grateful that I have been given the opportunity to serve on this committee. My colleagues and I will work hard to make sure that this project is successful. Since I joined Rusneftegaz in 2019, I have worked on many projects with many unique challenges. I am optimistic that with this project we will be able to create solutions for the long-term benefit of Rusneftegaz and its people."
 
Perhaps one of the most pertinent matters this analysis intends to resolve is if Rusneftegaz can be listed on a stock exchange in the near term, and how this can be instigated, accounting for any alterations that may be necessary to commence this process.  Although at present we are currently the largest private oil production company in the Russian Federation, our leadership believes it is crucial to examine if listing as a public corporation would facilitate the further expansion of our activities. Growth deriving from a flotation of our shares would originate from an enhanced ability to access finance from alternative commercial sources, which could then be invested accordingly to fund and expedite our enlargement. Similarly, it would also significantly increase our regulatory requirements for both financial reporting and other disclosures, which may embellish our reputation amongst our contemporaries, and thus make us a more credible partner to conduct business with. Whilst this review is unlikely to have the scope or the effect of a similar internal report published in 2005 that resulted in the reformation of the Group and the consolidation of our operations, it is still anticipated to have a consequential impact on this enterprise.
 
This is partially due to the fact that it is likely to precede a later, more extensive, inquiry into our current corporate activities. Both our ownership and our board of directors wholeheartedly believe that such an analysis is critical, with both our investment and research strategies due to be outlined across the next two years, with each requiring comprehensive preparation beforehand. Due to the sensitive nature of discussions that will be held in the weeks and months ahead, we will not be providing any further updates until this process has concluded, nor will we be publishing the final report once it has been approved by our executive leadership. However, any changes that arise in response to this study will be disclosed in due course, with subsequent briefings expected to be published by the end of the second quarter of this year. Likewise, any additional information regarding this subject shall be circulated solely to our staff, affiliates, subsidiaries and partners, and we will not be accepting questions from external parties with regard to these affairs at this present time. We necessitate your cooperation and understanding with this vital matter.

Rusneftegaz can announce production results for the fourth quarter of the year as of and for the three months ended 31 December. These were prepared in accordance with all relevant standards but have not been externally audited. The full results are available to review via the associated section of our website:

Oil and Gas:

• The total oil production during the period was 1.425.632 barrels.
• The average daily production of oil was 15.496 bpd (barrels per day).
• The peak daily production through the month was 15.782 bpd.

 
Electricity:

• The total amount of electricity produced was 3,87 TWh.
• At the end of the reporting period, we maintained a power generation capacity of 1.860 MW.
• The installed capacity utilized during the period was 94,2%.

 
The details in this article are current at the date of this report and are believed by Rusneftegaz to be accurate and true. All information is disclosed as a summary and does not purport to be entirely complete. The material published is derived from our internal operational reports, with the data that these documents are reliant upon obtained from sources believed by our management to be reliable. However, our organization cannot wholly guarantee the accuracy or completeness of such information and will not be held liable for any errors that have arisen, nor will any of our employees, directors, officers, agents, partners, subsidiaries, or affiliates.

Our executive leadership can today circulate a comprehensive provisional calendar for the upcoming fiscal year, the main highlight of which is scheduled to occur at the beginning of April, when our organization convenes for our Annual General Meeting. Although the date may be subject to change, it will provide an ample opportunity for all those involved in the affairs and operations of Rusneftegaz to coalesce, ultimately facilitating debate and discussion regarding our present activities and future strategies. Prior to this showpiece event, we will be promulgating our 2023 consolidated financial statements for all our key stakeholders and any other interested parties on 2 April, three days before the main convention itself. Nonetheless, it should be noted that the board may opt to host an Extraordinary General Meeting in the spring or summer following a strategic review of our business structure, which is due to be announced early in 2024. If this were to happen, all prospective attendees would be notified accordingly at least six weeks prior to enable proxy or absentee ballots to be processed. Beyond this, the next twelve months are expected to progress as anticipated, with our company continuing to publish our production data four weeks after the conclusion of each quarter.   

In the weeks ahead, however, it should be acknowledged that our capacity to answer any inquiries will be limited as a result of employee vacations over the Christmas and New Year holiday. During this timeframe, which is forecast to occur between 25 Decemeber 2023 and 9 January 2024, none of our other corporate activities will be impacted, and our production will continue as normal. Whilst communications throughout this period will be monitored, we cannot wholly guarantee that we will return any correspondences that may be urgent, and the sender may have to wait until the resumption of business for a reply. With this considered, we advise anyone seeking to contact our corporation, or any member of our staff, to do so prior to this date to secure a response in due course. Once our full administrative service has resumed, we will endeavor to address all pending messages within one working day, as will all our partners, subsidiaries and affiliates, all of whom are also affected. The provisional calendar is available in its entirety on our official website, and although the dates are subject to change, any major alterations are not anticipated by our managements at this time. Any queries concerning this announcement should be directed towards customary channels as soon as possible, primarily to enable us to respond before our capability to do so is restricted. We urge your cooperation and understanding regarding this most pertinent matter.