Combating Corruption

Company Statement

"Oil Resource Group" LLC is the leader of the Russian oil industry and one of the largest oil companies. An impeccable business reputation is one of our main assets, a guarantee of fulfillment of our obligations with strict observance of all applicable norms of Russian and international legislation.

The high level of corporate culture that we form together confirms the company's commitment to high ethical principles of doing business. This approach is extremely important to maintain investor confidence and ensure that all shareholders get the maximum return on investment in the long term.

"Oil Resource Group" LLC adheres to the principle of combating corruption and supports the Anti-Corruption Charter of Russian Business as well as the Social Charter of Russian Business.

The Company adheres to the principle of complete rejection of corporate fraud and corruption in all forms and manifestations.

All management bodies of the company are involved in this work considering their competence:

  • At the strategic level, management is carried out by the General Meeting of Members of "Oil Resource Group" LLC;
  • The current operational management is carried out by the Sole Executive Body of "Oil Resource Group" LLC (the management organization);
  • Heads of business units/functions and structural subdivisions of the company carry out management at the operational level;
  • Periodic independent and objective assessment of the effectiveness of the risk management and internal control process in the field of preventing and combating corruption is carried out by the Sole Executive Body of "Oil Resource Group" LLC (management organization).

The Company implements a set of measures to use transparent mechanisms and implement effective procurement procedures. The Company expects that its counterparties will adhere to the principles of combating corporate fraud and involvement in corrupt activities when carrying out their activities.

Special attention is paid to issues related to the identification and settlement of conflicts of interest.

The Company guarantees privacy to all employees and other persons who have reported the facts of corporate fraud and corruption offenses as well as their protection from any form of pressure, harassment and discrimination.

The Company also regularly interacts and exchanges information with government regulatory and supervisory authorities.

The Company refrains from paying any expenses of public officials as well as their close relatives and family members, or in their interests including obtaining personal benefits / personal interests at the expense of the company, with the direct or indirect purpose of obtaining any commercial or competitive advantages.

Definition of corruption

In accordance with Article 1 of Federal Law No. 273-FZ dated December 25, 2008 "On Combating Corruption", the following actions are recognized as corruption:

a) abuse of official position, giving a bribe, receiving a bribe, abuse of authority, commercial bribery or other illegal use by an individual of his/her official position contrary to the legitimate interests of society and the state in order to obtain benefits in the form of money, valuables, other property or services of a proprietary nature, other property rights for himself/herself or for third parties or illegal provision of such benefits to the specified person by other individuals;

b) commission of acts specified in subclause "a" of this clause on behalf of or in the interests of a legal entity.