Bashneft plans to spend at least 25% of its net profit for dividends

​Bashneft plans to go on paying high dividends at the amount of not less than 25% of net profit under IAS.

It will try to keep financial stability and moderate debt burden at which the net debt/EBITDA doesn’t exceed 2.

In the sphere of exploration and extraction Bashneft’s strategy presupposes reaching the following key results by 2020: development of the resource base and growth of oil reserves by means of realization of the geological exploration program in Bashkiria, reassessment and discovery of new reserves at the Trebs and Titov deposits, a possible confirmation of reserves at 7 new license sites in the Nenets Autonomous Area.

The strategy presupposes that by 2020 the efficiency of oil processing of Bashneft will rise to 98%, the output of light oil products – to 75%, grease oil output will fully be stopped.