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Press releases

Company Statement

26 January 2021

On January 15, 2021, Reuters published an article dedicated to the Vostok Oil Project on their website. The article contained false information which discredit the Project and operations of the Company and damaging its business reputation.

In this regard, PJSC NK Rosneft declares the following:

• As a public company and one of the leaders in the global energy industry, Rosneft is running its business in strict compliance with Russian and international law, corporate standards and in the interests of its shareholders, which include major international companies, professional institutional investors, and tens of thousands of individuals and legal entities.

• Due diligence of the Project conducted by world’s leading technology and legal companies confirms that Vostok Oil is not an Arctic offshore and/or shale project and thus does not fall within the scope of sanction restrictions. Suggesting the contrary is defamatory and misleading to the public, including possible participants of the project, which can lead to financial losses of the Company.

• Besides, PJSC NK Rosneft does not need to attract investments in Vostok Oil in exchange for oil supplies. The resource potential of the Project, the high quality of oil and the economic model of the Project make Vostok Oil one of the most attractive objects for investment in the global energy sector, which is confirmed by the assessments of the world's leading investment banks.

• Rosneft’s commercial activity aiming at securing supply contracts is a separate line of business run with all subjects of global trading.

• Due to obvious misinformation affecting Company’s and its partners’ projects, PJSC NK Rosneft demands the removal of this false information from the website and publishing of an apology with respect to it. The Company has engaged a professional advocacy agency to contact Reuters on this subject and reserves the right to issue proceedings to protect its business reputation.