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Interaction Framework

Rosneft’s interaction with interested parties is based on the following general principles:

  • following recognized business practices and ethical values;
  • respecting each other’s interests;
  • timely disclosing all relevant information.

Employees

Relations between the Company and its employees are based on social partnership (for details see Sustainability Reports), parties to which are the management of Rosneft and its subsidiaries, and the employee representatives: employee councils and labor unions. Mutual obligations of the Company’s subsidiaries and their employees are set in collective agreements. In most of the subsidiaries, employee interests are represented by labor union committees. The Company seeks to create all necessary conditions for efficient work of labor unions, as required by the existing legislation. In particular, the unions are provided with fully equipped meeting premises and vehicles to perform site visits. Additionally, employees elected to represent labor unions retain their positions at the Company’s subsidiaries and are entitled to all applicable social benefits.

Interaction with employee associations is complemented by ongoing development of Rosneft’s corporate communications system. The employees are informed about any aspects of the Company’s operations that may affect their interests through an intranet portal, corporate media, and regular meetings with the management. Personnel expectations and opinions regarding their employment with Rosneft are analyzed through regular surveys.

Shareholders and Investorsors

Ongoing shareholder and Investorsor relations are handled by the Investor Relations Office of the Asset Management, Economics, and Business Planning Department, and by the Shareholder Relations Office of the Corporate Governance Department. Rosneft’s information disclosure framework is based on provisions of the Corporate Governance Code and the Regulation on Information Policy, as well as on applicable Russian legislation, the requirements of Russian and foreign securities market authorities, and the requirements of stock exchanges where Rosneft’s shares are listed. The Company ensures that information subject to public disclosure can be accessed by any interested party, regardless of purposes for which such information may be required.

Seeking to efficiently communicate with Investorsors and shareholders, Rosneft regularly publishes its US GAAP financial results and Management Discussion & Analysis (MD&A). For institutional Investorsors, the Company organizes meetings involving Rosneft’s top management and holds regular conference calls. In addition, relevant corporate information is communicated through press releases.

The Company is also committed to encouraging an open dialogue with its minority shareholders through regular meetings where Rosneft’s specialists provide extensive coverage of shareholder legislation and other relevant matters.

Detailed information about the Company’s interaction with shareholders and Investorsors is available on Rosneft’s website.

Consumers

Major consumers of Rosneft-produced petroleum products include individuals throughout the regions of Company’s operation, independent filling station networks, federal and local authorities, and export customers.

Rosneft is engaged in continuous monitoring and improvement of customer loyalty. The Company’s marketing subsidiaries evaluate the quality of their services through regular customer polls and internal procedures, seeking to improve performance on an ongoing basis. All of Rosneft’s service stations have free-access books for customer suggestions, while a 24/7 hotline enables consumers to voice their concerns and opinions.

Suppliers and contractors

The Company strives to establish transparent relations with its suppliers and contractors, based on the principles of fair competition and open bidding. Key criteria in selecting suppliers and contractors are high quality of products and services, market pricing, and timely delivery. Rosneft is particularly focused on promoting cooperation with Russian companies, including local suppliers in respective regions of Rosneft’s operation. The Company seeks to facilitate the development of its suppliers and contractors’ business through long-term partnership based on transparent pricing and flexible payment terms.

Federal and local government authorities

Rosneft is involved in continuous interaction with state authorities at all levels.

The Company, along with other Russian petroleum majors, actively participates in discussing and evaluating draft oil industry regulations elaborated by state authorities.

Operating almost in all regions of Russia, Rosneft makes every effort to efficiently interact with local authorities and communities, which underpins the Company’s sustainable development and growth strategy. Cooperation agreements concluded between Rosneft and local governments set forth the parties’ objectives with regard to social and economic infrastructure development.

Sustainability Report 2014, 12.2 Mb

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