OREANDA-NEWS. On 03 April 2008 was announced, that an annual general shareholder meeting was held by Primornefteproduct OJSC. The shareholders drew up results of the company operations in 2007 and reelected its executive boards.

PNP operations are focused on the following key areas: wholesale and retail sales of oil products, transshipment and storage of dark and light fuels as well as their shipment to customers  by trucks owned by the company.

In 2007, PNP sold 464.9 thousand tonnes of oil products in domestic market (440.1 thousand tonnes in 2006). Of that, 218.1 thousand tonnes were sold through retail network (207.4 thousand tonnes in 2006), while wholesale sales totalled 246.8 thousand tonnes (240 thousand tonnes in 2006).

In 2007 PNP continued to extend its retail network. Seven new retail fuel stations were commissioned after turnaround and reconstruction. The CAPEX committed for the same year accounted for RUR 138.4 mln.

Transshipment volumes in 2007 accounted for 1 322.5 thousand tonnes, which is 63.9 thousand tonnes more against the 2006.

Net-earnings from all types of operations amounted for RUR 8 148.9 mln. (RUR 8 372,0 mln. in 2006), balance-sheet profits soared to RUR 199.5 mln. (RUR 54.5 mln in 2006), and net profits – to RUR 139.7 mln. (RUR 20.6 mln. in 2006).

The shareholders resolved to pass dividend for 2007 and instead to allocate profits for CAPEX.

The new five-member Board if Directors included Anatily Gromov, Dmitriy Karmanov, Vladimir Maslovskiy, Sergey Revkov, and Georgy Zhukov.