international magazine
02 / 2004


SURGUTNEFTEGAZ done well or well-done?



Surgutneftegaz surprised the business community several times in February 2004 with various announcements regarding its plans for the company. Though investors were cautiously optimistic on receiving the news on the company's plans to double gas refining while substantially reducing expenditure, Surgutneftegaz's intention to almost quadruple dividend payments on 2003 results got investors and stock market participants talking. Despite the substantial increase in the nominal value of dividends, they remain the lowest in the oil and gas industry.