Board of Tatneft Oil Company sums up the results of the first quarter of 2018

On May 30, at the Government House of the republic, Tatarstan President Rustam Minnikhanov held a regular board meeting of Tatneft Oil Company, which considered results of the company’s implementation of the budget for the first four month of 2018, approved the budget for June and discussed financial and economic activities over the first quarter of this year.

As many as 7 million 13 thousand tonnes of the crude oil output have been extracted from the fields of Tatneft Oil Company for the first three month of the current year. As many as 138 new producing and 40 injection wells have been put into operation.

Gross revenue from sales of shipped products increased by 22.2 billion rubles as compared to the same period in 2017 and amounted to 196.4 billion roubles. The net proceeds (excluding VAT, export duty and excises) from sales of shipped products increased by 21.1 billion roubles and amounted to 166 billion roubles. Net profit increased by 7.9 billion roubles and amounted to 37.3 billion roubles.

The meeting considered a number of other issues related to the company's activity.