Rustam Minnikhanov: oil is our competitive advantage

President of Tatarstan Rustam Minnikhanov appreciated the activity of JSC “Tatneft” by results of work in 2010.

Speaking at the annual meeting of the company’s shareholders in Almetievsk he noted that last year was a difficult one for republican economy. Still quite good results were archived. Gross regional product of republic made 1 trillion roubles, volume of industrial production – more than a trillion, - 8,2 % more than last year. Oil industry played a great role in republican economy, 27 % of added value and 30 % of total income tax revenue to RT budget is the share of JSC “Tatneft”.

Rates of construction sector increased by 4 % in 2010. Head of republic pointed out enormous contribution of builders engaged in project JSC “TANECO” (Complex of oil-refining and petrochemical plants in Nizhnekamsk) and construction of housing by social mortgage program. He emphasized that Tatneft company is the main participant of social mortgage program in republic.

Rustam Minnikhanov paid attention to good dynamics in growth of manufacturing activities share in Tatarstan economy (62 %). He noted that except for field development Tatneft is engaged into realization of petrochemical projects.

RT President believes that in order to stay competitive the company should be innovation-oriented and present a competitive product. By his words, Tatneft is one of the most innovative companies of republic.