Corporate governance

Gazprom Neft’s corporate governance system enables the Company to adhere to the principles of sustainable development at all stages – from developing a corporate strategy to operating activities.

The Company’s corporate governance system complies with the standards and requirements of Russian legislation, the Gazprom Neft Charter, and its own internal standards. To this end, Gazprom Neft also focuses on the best global experience and most successful practices.

The principles and rules of the corporate governance system are enshrined in the Corporate Code and the Code of Corporate Governance Code.

Management efficiency

The Company constantly makes improvements to its corporate governance system and is committed to enhancing its efficiency. The Board of Directors reviews information about results on an annual basis.

Main initiatives of 2017:

  • the ‘Shareholder User Account’ online service was established
  • the practice of reviewing the Company’s key risks by the Board of Directors was introduced
  • an external expert conducted an external independent assessment of the quality of internal audit activities and submitted the results to the Audit Committee
  • the fundamental standard ‘Regulation on Corporate Procedures for Major Transactions and Related Party Transactions’ was approved
  • the Board of Directors approved the External Audit Policy as well as updated versions of the Internal Control Policy, the Regulation on the Internal Audit Department, the Internal Audit Policy, the Regulation on Insider Information, and the Regulation on Information Policy
  • the work of the committees of the Board of Directors was scaled up
Structure of governing and supervisory bodies of Gazprom neft PJSC