Sales proceeds of Tatarstan oil companies went up by 21 per cent in the first quarter of 2015

On May 22, in Kazan Acting Tatarstan President Rustam Minnikhanov held a quarterly meeting with heads of small oil companies of the republic. The meeting summed up the results of the regional oil industry in the first quarter, prospects for further development, new industry developments.

Minnikhanov noted that the oil companies have seen positive growth in oil production for the period under review. Its volume amounted to 8224 thousand tonnes, which is by 93 thousand tonnes more than last year. The sales proceeds of the oil industry of the republic went up by 21 per cent, which amounts to 141 billion roubles, with small oil companies showing an increase of 24 per cent, he added.

Minnikhanov noted the increase in tax payments by small oil companies to the regional consolidated budget by 6.4 per cent. Largely due to concentrated efforts of oil workers the republic can boast the stable economic situation, although it is a challenging one in the country and the republic. All social obligations and regional programmes are implemented timely and fully, he continued.

General Director of the Neftekonsortsium oil company Fanis Valiev reported in more details about the work of small oil companies.

Summing up, Minnikhanov reminded that recently Tatarstan and the Ministry of Natural Resources of the Russian Federation concluded an agreement on establishing two polygons for bitumen and shale oil in the republic. He recommended the Tatneft oil company getting involved small oil companies into the work.