The Board of Directors of Rosneft Oil Company has given consent to Rosneft CEO Igor Sechin taking up the position of Supervisory Board Chairman at Development of Genetic Technologies, Rosneft informed.
The Rosneft Board of Directors also gave consent to Pyotr Lazarev, a member of the Rosneft Management Board serving as a member of the Supervisory Board of Development of Genetic Technologies.
Rosneft is the leader of Russia's petroleum industry and the world's largest publicly traded petroleum company. The Company's main activities include prospecting and exploration of hydrocarbon deposits, oil, gas and gas condensate production, upstream offshore projects, crude processing, as well as marketing of oil, gas, and refinement products in Russia and abroad.
The company is on the list of strategic enterprises in Russia. Its principal main shareholder (40.4% of shares) is Rosneftegaz wholly owned by the Government of Russia, while BP owns 19.75% of shares, QH Oil Investments LLC holds 18.93% of shares, one share belongs to the Government represented by Russia's Federal Agency for State Property Management (Rosimushchestvo).
IFRS net profit attributable to Rosneft shareholders for 2019 increased by 29% to RUB 708 billion from RUB 549 billion a year earlier. Sales revenue and equity share in profits of associates and joint ventures went up 5.3% to RUB 8.676 trillion from RUB 8.238 trillion, EBITDA increased by 1.2% to RUB 2.105 trillion from RUB 2.081 trillion.
Development of Genetic Technologies autonomous nonprofit organization registered on April 28, 2020 is founded by Rosneft Oil Company. Alexander Pashali was appointed as its CEO on June 18, 2020. The company's core business is research and development in the field of biotechnology.
