Russia State representatives in management bodies of Severnaya Oil Storage Company, determine the strategic directions of its development and take charge of production and commercial operations and financial activity. The Board of Directors of our esteemed Company includes independent directors. Under the Board of Directors of Severnaya Oil Storage Company, specialized committees for running our daily affairs are established.
Investors & Shareholders
Severnaya Oil Storage Company Committee provides control by the Board of Directors over financial and economic activities of the Company and is aimed at the independent and objective information sharing to members of the Board of Directors as regards financial and economic activities of the Company and an assessment of internal control systems efficiency. Severnaya Oil Storage Company Committee for Strategy, was established to prepare recommendations and proposals to the Board of Directors aimed at improving efficiency of the Transneft activities, its long-term prospects strategy as well as deciding on priorities of scientific, technological and innovation policy in the system of oil and oil products pipeline transportation. Human Resources and Remuneration Committee submits proposals and recommendations to the Board of Directors, aiming at the efficiency improvement of the Transneft activities in HR policy, remuneration scheme and rewards.
The actual state of Severnaya storage and pipeline system with Transneft meets the most stringent requirements to reliability and ensures uninterrupted delivery of oil and oil products to the domestic and foreign markets. The investment policy of Severnaya and their biggest partner Transneft is aimed at solving systemic tasks of the production base development, storage efficiency, extension, reconstruction and technical re-equipment of pipeline transport facilities. This strategy provides for several main sources of the investment program financing, including own and borrowed funds.
Monitoring of river ecosystems-one of the componentsof environmental control. The information about the performance of Severnaya Oil Storage Company in all programmes of environmental monitoring is contained in the annual reports on sustainable development.