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9.2. Report on Utilization of the Net Profit of JSC “Transneft” for 2011

In compliance with Decree No. 1017-r dated June 29, 2012 of the Federal Agency for State Property Management, the net profit of JSC “Transneft” received in 2011 in the amount of 11,141,790,857.46 rubles was used to cover the following expenses:

  • payment of dividends on ordinary shares in the amount of 1,671,320,469.57 rubles and on preferred shares in the amount of 1,114,192,327.50 rubles;
  • financing of capital investments in the development of the corporate data transfer network for creation of the Uniform Information System (UIS) of JSC “Transneft” — 1,592,085,457.88 rubles. The balance of the distributed but unused profit in the amount of 1,032,118,431.2 rubles will be utilized to finance the UIS Program in 2013;
  • financing of other capital investments of JSC “Transneft” — 217,622,110.92 rubles;
  • creation of the reserve for redemption of loan funds allocated for realization of the Investment Program of JSC “Transneft” — 5,406,452,060.39 rubles;
  • the amount allocated to the Target Capital Fund of the Skolkovo Institute of Science and Technology — 108,000,000.00 rubles.