Regular meeting of the PJSC TATNEFT’s Board of Directors Was Held
28 октябряThe results of the of PJSC TATNEFT s budget execution for nine months of the current year were considered at the meeting, and the budget for November 2020 was approved.
The information on the demand behavior and economic recovery measures to restore the wholesale and retail sales of crude oil and petroleum products income was presented to the Board of Directors. The launch of ELOU-AVT-6 at TANECO in 2019 allowed increasing the volume of oil refining to 11.5 million tonnes without fuel oil production. At present, the oil conversion ratio is 95.6 with the yield of light products amounting to 83.2 . Refining of crude oil, gas and NGL is also carried out at the facilities of Tatneftegazpererabotka company.
Installations that increase the added value of the petroleum products basket are put into operation on a systematical basis and the range of refined products is expanding and improving.
TATNEFT is promoting electronic trading of crude oil and petroleum products. The Company launched the TATNEFT fuel portal as a tool of increasing sales in 2019, which made it possible to remotely manage sales and shipments during the pandemic. The Company is widely using the sites of the St. Petersburg International Commodity and Raw Materials Exchange in the domestic market, Torg-i for export supplies and the TATNEFT trading and purchasing platform to ensure the availability of products. TATNEFT filling station network remains the most efficient sales channel for the TANECO s Euro-6 fuel. High-quality fuel, service and customer loyalty allow suggesting that the Company will meet the pre-crisis planned network operation targets.
The Board of Directors discussed and approved at the meeting the implementation by the Company of Goal 3 Good health and well-being within the framework of the UN Global Compact of Sustainable Development. The priority work aspects in this area are the development of high-tech medical care for the Company s employees and residents of the south-eastern part of the Republic of Tatarstan, the efficient functioning of the system for the prevention, treatment and rehabilitation of infectious and non-infectious diseases. The implementation of Goal 3 is aimed at increasing labor productivity in the Company, ensuring the stop-free operation of enterprises of a continuous cycle and life support, as well as increasing the efficiency of spending funds in the social sphere.
There was a roadmap of the project program formed to accomplish the goal Good health and well-being , which provides for the work modernization of the TATNEFT Company s health centers, the construction of a bacteriological laboratory, the creation of a medical information system, measures to reduce industrial injuries, accidents and the operation continuity through controlling the technical condition of the equipment and improving programs aimed at ensuring a healthy lifestyle. TATNEFT has set the task of reducing the number of days of temporary disability of the Company s employees by 50 by 2030 with an intermediate result of 25 by 2025. When evaluating the investment projects effectiveness their impact on the health and well-being of the TATNEFT Group employees will be taken into account.
The Board of Directors meeting considered the results of working with non-core assets of the TATNEFT Group for the period 2017-2019. The process thereof has been centralized and transferred to a specialized unit with the purpose to improve the management of impaired assets and non-core assets.
As part of the Board of Directors meeting, employees and veterans of the Company were awarded state and corporate awards.
Viktor Smykov, veteran of the oil industry, was awarded the Duslyk Order for a significant contribution to the development of the industrial potential of the Republic of Tatarstan and many years of fruitful work.
Vyacheslav Chichkov, Director of OOO Tatneft-AZS Center, was awarded the Order of Merit medal of the Republic of Tatarstan for the special contribution to the development of the oil industry of the Republic and many years of fruitful work.
Forward-looking Statements and Disclaimers:
This press release contains certain statements regarding future events and expectations, which are forward-looking statements in nature. Any statement in this press release that is not a historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ materially. PJSC TATNEFT shall assume no obligation to update such forecasts to reflect actual results, changes in assumptions or changes in factors affecting these statements.
The amounts and the interest money indicated or referenced in this press release may be given taking into account the rounding and, accordingly, they may differ from the actual figures and results contained in the company s reporting documents. PJSC TATNEFT shall assume no obligation to adjust or reimburse any amounts that may make the difference between those specified in this press release and the relevant reporting documents, and all payments shall made by PJSC TATNEFT exclusively in accordance with the decisions of the competent Company s management bodies in the amount and manner specified in such decisions.
The discussion of the development strategy of the Almetyevsk State Petroleum Institute took place during an extraordinary expanded meeting of the AGNI Academic Council with the participation of Nail Maganov, General Director of TATNEFT, and Andrey Pominov, First Deputy Minister of Education and Science of the Republic of Tatarstan.
The TATNEFT Company TANECO Refinery has completed a scheduled overhaul of hydrocracking, hydrogen production, base oil production and elemental sulfur production facilities.