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    Russia's Gazprom Neft overhauls management structure, output chief quits - Vedomosti

Summary

Gazprom Neft, the oil arm of Russian energy giant Gazprom, has overhauled its management structure in order to improve the governance, the Vedomosti daily reported on Friday, citing sources.

by: Reuters

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Russia's Gazprom Neft overhauls management structure, output chief quits - Vedomosti

 - Gazprom Neft, the oil arm of Russian energy giant Gazprom, has overhauled its management structure in order to improve the governance, the Vedomosti daily reported on Friday, citing sources.

It also said that Vadim Yakovlev, who was in charge of the production and exploration unit, had left the company.

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Anton Dzhalyabov, who joined the company in August as deputy general director and chief engineer, will take over from him, according to the newspaper. He has a background of working at Gazprom.

Gazprom Neft did not immediately reply to a request for comment.

Gazprom Neft has fared better than its owner, Gazprom, the world's biggest natural gas company by output and reserves, which saw its earnings plummet as its sales to Europe dwindled amid political strains over Ukraine.

In November, the market capitalisation of Gazprom dipped below that of Gazprom Neft amid high oil prices and after a dividend announcement by the subsidiary.

Gazprom bought Gazprom Neft, which was then called Sibneft, for more than $13 billion from tycoon Roman Abramovich in 2005.

 

(Reporting by Vladimir SoldatkinEditing by Mark Potter)