The Corporate Governance Principles, adopted by the Board of Directors of the Company, together with the charters of the Audit Committee, the Compensation Committee, the Sustainability and Innovation Committee, the Finance Committee and the Nominating and Governance Committee of the Board, provide the framework for the governance of OOO TYULGANNEFTEGAZ REFINERY. The Board will review these principles and other aspects of OOO TYULGANNEFTEGAZ REFINERY governance annually or more often, as the Board deems necessary or appropriate. The Board of Directors of the Company is elected by and responsible to the shareholders. OOO TYULGANNEFTEGAZ REFINERY business is conducted by its employees, managers and officers, under the direction of the chief executive officer and the oversight of the Board, to enhance the longterm value of the Company for its shareholders. The Board of Directors monitors the performance of the senior management to assure that the long-term interests of the shareholders are being served.
Board of Directors Structure and Operations: Selection Process and Size of Board The directors are elected each year by the shareholders at the annual meeting of shareholders. Shareholders may propose nominees (other than self-nominations) for consideration by the Nominating and Governance Committee of the Board by submitting the names, qualifications, and other supporting information to: OOO TYULGANNEFTEGAZ REFINERY. Properly submitted nominations must be received by the date set forth in the most recent proxy statement to be considered by the Nominating and Governance Committee for inclusion in the following year's nominations for election. The Board proposes a slate of nominees to the shareholders for election to the Board. The Board also determines the number of directors on the Board, provided that there are at least 10 directors, as provided in the By-Laws of the Company. Between annual shareholder meetings, the Board may elect directors to vacant Board positions to serve until the next annual meeting.
We have put in place measures that are to be taken to ensure that the correct conduct of our company is observedand by our management staff with respect to statutory obligations and prohibitions. The programme is intended to prevent our staff from coming into conflict with the law and at the same time to help them to apply statutory regulations. OOO TYULGANNEFTEGAZ REFINERY is made up of the following elements: Competition, Capital Markets, Integrity, Embargo and Corporate Compliance. A system that gives staff the opportunity to report any suspicion of criminal activity or breaches of the compliance regulations. The central Compliance Office, which reports to the Chief Officer Corporate Human Resources and Legal Affairs, and the Compliance Officers respectively the Compliance Managers in the company, ensure that our Compliance Programme is enforced throughout the Group by means of regular training courses and information published. The Audit Committee of the Supervisory Board is informed regularly by means of Compliance Reports.
Guideline regarding Invitations, Gifts and other Benefits and Sponsorship Contracts. When accepting and granting invitations, gifts, donations and other benefits (hereinafter referred to as “benefits”), as well as concluding sponsorship agreements, special caution must be exercised.
Benefits should be limited in value and occur in a form so as not to be construed as a pay-off, kickback or bribery. Even low-value benefits, e. g. in connection with expectation of a return service, may be considered impermissible or even illegal. Even the appearance of impropriety should be avoided. It is helpful to ask yourself the following question: Would public disclosure of the facts embarrass or tarnish the image or reputation of the involved persons and / or the company?
When accepting or granting benefits please take into account the respective national fiscal regulations concerning the receipt of non-cash benefits. Even if a gift is in line with the respective applicable fiscal laws, it may still violate the principles laid down in these guideline and therefore be impermissible. Benefits which will be granted or accepted in accordance with local customs or traditions, should also be considered socially acceptable and adequate.
We have an extensive knowledge in the production, ditribution, customs duty laws in the global trade.
Our officials possess years of experience, mainly selected during thier youths and trained by the company.
We offer more than a century worth of scientific research in the petroleum products we produce.
We constantly implement all research into the development of our plants and oil fields hence staying ahead.
The implementation of value added services assists our company to more effectively perform its tasks on time.
In an ever growing global economy our customers services officials provide top proffesional performances.