Rustam Minnikhanov holds a regular board meeting of Tatneft Oil Company

On April 26, at the Government House of the republic, Tatarstan President Rustam Minnikhanov held a regular board meeting of Tatneft Oil Company.

The meeting considered the results of the budget execution for the first quarter of 2019 and approved a budget for May of the current year.

The results of the company's financial and economic activities in 2018 were presented at the meeting. The company  produced 29 million 192 thousand tonnes of crude oil, including 1,949 thousand tonnes of highly viscous oil, at its fields last year.  As many as 445 new production and 296 injection wells were put into operation. The volume of collected associated petroleum gas amounted to 923 million cubic meters in 2018.

Net revenues (excluding VAT, export duties and excise tax) from the sale of the products supplied made 793.2 billion roubles and the net income amounted to 197.5 billion roubles in accordance with the Russian Accounting Standards. As many as 486 billion roubles, including taxes and other payments,  were paid to the budgets of all levels, which was 166.1 billion roubles higher than during the same period last year due to increased mineral extraction and income taxes payments.

A total of 97.8 billion roubles were allocated to implement the investment programme for all businesses of Tatneft Group.

The meeting discussed the issue of opening a representative office of the company in Nurafshon (the Republic of Uzbekistan).

The Board also considered a number of other issues of the company's activities.