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Medvedev appoints Sechin as Rosneft board chairman

Russian prime minister told Sechin about the appointment at their bilateral meeting

Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, May 22 (Itar-Tass) — Russian Prime Minister Dmitry Medvedev stated that he signed a decree to appoint Igor Sechin as chairman of the Rosneft Board of Directors.

Medvedev told Sechin about the appointment at their bilateral meeting.

“I signed the decree to the Rosneft Board of Directors so that you will take the post in the executive body of this company,” Medvedev told Sechin.

“This company is major and a very important supplier of energy resources, which had made a great leap forward for the last few years without your participation,” the premier said. “The company is one of budget-forming enterprises, has a good potential in investment cooperation,” he believes.

“I would like you with your energy to work in this company,” Medvedev wished luck to Sechin.

The prime minister also noted that the company is implementing several breakthrough projects recently, including those with the participation of foreign investors. Medvedev was discussing some of them with the foreign leaders at a G-8 summit in the United States. “This will be a good movement,” he believes.

The premier named as another important issue the question of domestic fuel prices. “I expect from you a well-coordinated and consolidated work with the government on this issue,” he added.

Sechin called this task as one of important issues in the company. “The domestic market should be provided with oil products at maximum stable prices,” he believes.

“I will seek to focus in the company on keeping and building up the oil output,” Sechin said. He recalled that in the previous year 122 million tonnes of oil were produced. “We will seek to increase this output to keep the positive dynamics for years to come,” Sechin said.

He also recalled that Rosneft is one of the largest taxpayers. In the previous year the company has brought 1.5 trillion roubles in the budget. “This is the trend that we will develop stably and we will increase the budget revenues,” Sechin pledged.

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