Tatarstan Prime Minister Rustam Minnikhanov: “Tatneft” has become one of few companies which demonstrated growth of oil production in 2008”

Prime Minister of Republic Tatarstan, Chairman of Directors Council of JSC “Tatneft” said about it at general annual meeting of JSC “Tatneft” shareholders in Almetyevsk.

By his words 2008 year was the most difficult for “Tatneft” in past decade. Downfall of prices for oil, growth of industrial inflation, decrease of companies’ activity contributed into this process. In such conditions some oil-and-gas producing companies had to turn to federal government for financial help for the first time. By and large, production volume in the country reduced for 0,7 %.

Anyway, “Tatneft” has become one of few companies which demonstrated growth of oil production in 2008 for 0,1 %.

Rustam Minnikhanov reminded that by and large “Tatneft” company produced 25,766 mln. tons of hydrocarbonic raw materials last year.

The revenues of “Tatneft” company from sale of goods, works and services in 2008 made 219 bln. roubles.

By words of RT Prime Minister for last years oil-producing company actively took part in realization of social mortgage program in republic - from the beginning of program “Tatneft” transferred 8 mln. roubles . He also reminded that volume of investment program of the company made 72 bln. roubles in 2008 and it has been completely realized.

Rustam Minnikhanov considers that the main task today is keeping all product markets and labour personnel. Strategically important project is still construction of petrochemical and oil-producing plants in Nizhnekamsk which is being financed by “Tatneft”.
Upon the whole RT Prime Minister characterized work of the company as successful. In particular, he noted that “Tatneft” has acquired a good reputation in Syria.