Board of Directors of Tatneft Oil Company sums up results of the first quarter of 2016

On May 25, at Tatarstan Government House, Tatarstan President Rustam Minnikhanov chaired a regular board meeting of Tatneft Oil Company.  

The meeting discussed results of the budget execution for four months in 2016, approved the budget for June of the current year, and discussed results of the financial and economic activities for the first quarter of the current year.

The company has produced 6 million 846 thousand tonnes of crude oil for the first three months of this year, which is 5.4 per cent higher as compared with the same period last year.

The company received net profit in the amount of 20 billion roubles as a result of the financial and economic activities during the reporting period.

The meeting discussed the current state of the environmental monitoring during the development of bituminous oil deposits.

The meeting reviewed results of company’s operation last year, the annual financial statements, distribution of profits and losses for the financial year, the results of auditing the financial and economic activities of the company in 2015 by the company’s audit committee and by the audit company "PricewaterhouseCoopers Audit", as well as about holding the general annual meeting of the shareholders.

The Board also considered a number of other issues of the company’s activity.