Tatneft to pay 19 million roubles of dividends

On June 27, Tatarstan President Rustam Minnikhanov took part in annual shareholders meeting of OAO Tatneft.

Making report on Tatneft activity in 2013, company’s Director General Nail Maganov told that the company produced 26 million and 107 thousand tonnes of oil.

According to estimates of the international consulting company “Miller and Lents”, the proven reserves of OAO Tatneft for the beginning of 2013 made 847.3 million tonnes of oil. Sales proceeds made 363 billion roubles, net profit – 63.85 billion roubles. The sum of taxes paid to all budgets amounted to 323 billion roubles. Tatneft investments made 85 billion roubles.

7.6 million tonnes of oil were processed at OAO TANECO. The Integrated Hydrocracking Unit was put into operation in March.

Speaking at the meeting, Tatarstan President Rustam Minnikhanov said that republic’s prosperity and successful implementation of 30 social and economic programmes depend on stable work of oil workers. Tatneft is one of biggest tax payers in Russia, according to results of the year the company directed 300 billion roubles of taxes to the federal budget.

It was noted that the company’s activity is aimed at innovative activity. Therefore, for 20 years oil production has increased, notwithstanding difficult conditions.
Rustam Minnikhanov also noted company’s achievements in construction of TANECO oil refinery and development of tyre industry.

Among priority tasks Rustam Minnikhanov pointed out maintenance of achieved positions in oil production during the next 30 years, and refining of oil into petrochemicals.

Members of the Board decided directing 30 per cent of net profit for paying dividends.

ZAO Energy Consulting/Audit was again approved as company’s audit company.