Rustam Minnikhanov holds regular board meeting of Tatneft Oil Company

On March 22, in the Government House of the republic, Tatarstan President Rustam Minnikhanov chaired a regular board meeting of Tatneft Oil Company, to sum up the results of the company's budget execution for two months of the current year and approve budget amounts for April and the second quarter of 2018.

The Board discussed the strategy of staff management of the TATNEFT Group. The importance of human capital as the main competitive advantage of the company, the key to achieving sustainable development was noted.

The meeting discussed the process of implementation of TANECO Oil Refinery project.

Currently, the capacity of the Oil Refining Plant amounts to 8 million 700 thousand tons per year, the depth of refining has reached 99,24 per cent, output of light oil production has reached  87.5 per cent. Over 50 million tons of oil were processed at the TANECO complex. The measures for the commissioning of new production facilities, to improve the quality of the products and increase the rated capacity of the complex to 14 million tons of oil per year, are envisaged in the current year.

The participants of the meeting got acquainted with the prospects of further development of the tire business enterprises of Tatneft Oil Company. As many as 13.1 million tires were sold in 2017, which is the maximum result in the history of the Tatneft tire complex.

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