Rustam Minnikhanov holds board session of JSC “Tatneftehiminvest-holding”

Board session of JSC “Tatneftehiminvest-holding” chaired by President of Tatarstan Rustam Minnikhanov was held in the House of RT Government on October,3.

Director general of the holding Rafinat Yarullin told about preliminary operating results of Tatarstan oil-gas-chemical Complex for 9 months of 2011. By his words, proceeds of oil-gas-chemical enterprises has increased by 27 % and made 485 bln. roubles.

Still the profit crunch is observed at several enterprises because of rise in prices for raw materials and supplies. Thus, the process of capital accumulation is going rather slowly. For the first half-year investments made 27 bln. roubles. Main investments are focused on construction of oil-refining and petrochemical Complex “TANECO” (investor – JSC “Tatneft”) and ABS resin plant (investor – JSC “Nizhnekamskneftehim”).

Forecasts show that stabilization of oil prices and growing demand are expected in the nearest future. Growth of oil production and decrease in exports are currently marked in Russia. For 9 months oil production of JSC “Tatneft” has increased by 0,3 %, proceeds of the company - by 26 %, profit on sales - by 38 %.

As for “TAINF-NK” proceeds have increased by 35 %. The production index of JSC “Nizhnekamskneftehim” has made 106 %, expected proceeds - 91,5 bln.roubles.

Positive dynamics by the mentioned rates is expected for “Nizhnekamskshina” and “Nizhnekamsktechuglerod” notwithstanding growing competition on the part of foreign producers.

Rafinat Yarullin considers the shortage of ethylene and butadiene to be a serious problem. It adversely affects plant “Kazanorgsintez”, Kazan plat of synthetic rubber and “NefteHimSavilen”.

By words of “Tatneftehiminvest-holding” Chief, due to joint efforts two projects on constructing pipelines that are very important for Tatarstan were included into the development Plan of oil – gas-chemical sector in Russia. In case they are realized, Tatarstan petrochemical enterprises will be provided with as much cheap raw materials as they need.

Rafinat Yarullin suggested that it is necessary to cooperate intensively with Yamal- Nenets Autonomous Area with concentration of 70 % of Russian natural gas.

Key points of economic growth in Tatarstan are focused on oil-gas-chemical Complex, Rustam Minnikhanov reminded. There are enough reserves and facilities, he believes, and it needs a systemic approach. Thus, Head of the republic required to prepare relevant suggestions, by JSC “Orgsintez” in particular.

Director general of JSC “Nizhnekamskneftehim” Vladimir Busygin reported on construction of ABS resin plant.

Director general of “BPC” group of companies Aleksandr Skorokhodov told about using equipment of American company «Capstone Turbine Corporation» meant for utilization of associated petroleum gas. This issue is very important in connection with requirement of RF Government to bring the share of useful utilization of associated petroleum gas to 95 % by 2012.