NAROD Movement Moscow press release On Thursday, May 15, at 12:00 p.m., the Central House of Journalists (Fireplace Hall) will host a press conference on the topic: “Shareholders of Oil Companies vs. Oil Trader Gunvor.” The press conference will feature: — Alexei Navalny — co-chairman of the NAROD movement, minority shareholder in Rosneft, Gazprom Neft, Surgutneftegas, Transneft, and Gazprom; — Alexander Glushenkov — attorney; — Vadim Prokhorov — attorney. The participants will discuss: — the struggle by minority shareholders of oil companies for transparency in oil trading; — the demand put forward to oil companies to stop using Gunvor’s services and reorganize the oil export system; — court cases against oil companies that are concealing from shareholders information about their cooperation with Gunvor; — the fight for transparency in the shareholder structure and beneficial ownership of oil companies (in particular Surgutneftegas). Other issues will also be raised. B A C K G R O U N D The staggering rise in oil prices has poured income onto everyone — the state, the management of oil companies, and oil traders. Only the minority shareholders of the largest producing companies have gained nothing from this favorable price environment. The dividends they receive hover at around a 2% yield — which is simply a mockery compared with the profits earned by companies that trade in oil. The profits of the mysterious oil trader Gunvor run into nine figures. In a short period of time, Gunvor has become one of the world’s largest oil traders, selling more than one-third of all oil produced in Russia. This situation is unacceptable to the minority shareholders of the companies on whose business Gunvor earns its billions. The press conference will take place at: 8a Nikitsky Boulevard, Arbatskaya metro station, Central House of Journalists, Fireplace Hall. Start time: 12:00 p.m. Media accreditation by phone: 203-2086, 202-9451, 921-0796.