“BASHNEFT” spends more than one billion rubles for charity every year

At the press-conference, held on occasion of the completed special meeting of the shareholders the President of JSC “BASHNEFT” Alexander Goncharuk was questioned concerning social aid to the Republic.

“In 2009 and 2010 “BASHNEFT” has spent 1 billion 200 million rubles for charity” – the President answered.

Further Alexander Goncharuk told that the social contract, signed by the “AFK System”, having purchased JSC “BASHNEFT”, was prolonged already under a new Presidential administration. The contract presumes that the amount of social aid proportionally depends on the financial successes of the company.

In opinion of the company’s President it looks quite logical.

“If we work better, we give more and on the contrary if we work worse, we give less but unfortunately it depends not just upon the talented managers but more upon the taxes and excises. Now we are facing rather difficult situation. Everybody is waiting the excises for our final products will be increased in 2011 because the transport tax is already cut down. We think the taxation for oil refining will be increased too. Our result depends on all these factors. In 2011 our results should be better than in 2010, correspondingly the amount of our social aid will grow too. At least we hope so” – this is the forecast of Alexander Goncharuk.