Tatneft Oil Company's Board sums up the results of the first half of 2018

On August 24, at the Government House of the republic, Tatarstan President Rustam Minnikhanov chaired a regular board meeting of Tatneft Oil Company, which discussed the results of the company's financial and economic activities for the first half of 2018, considered the results of executing the company's budget for the reported period and approved the budget for September of the current year.

During the reported period, the oil output has amounted to 14.11 million tonnes, with associated petroleum gas totaled 447 million cubic metres. A total of 236 new producing and 95 injection wells have been put into operation.

According to the Russian accounting standards, gross revenues from sales of products shipped during the reported period have made 430.9 billion roubles, with net proceeds (excluding VAT, export duty and excises) amounted to 365.3 billion roubles and net profit amounting to 93.9 billion roubles. The total volume of the Tatneft Group’s investments has amounted to 43,3 billion roubles during the first half of the current year.

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