A Regular Meeting of the TATNEFT’s Board of Directors Was Held
27 январяThe meeting reviewed the results of the budget implementation for 2020 and approved the budget for February 2021.
As part of the Company s achievement of the Sustainable Development Goals, the Board of Directors reviewed the activities implemented in accordance with UN SDG, Goal 7: Ensuring the universal access to affordable, reliable, sustainable, and modern energy sources for everybody as related to the challenges of combating climate change, responsible consumption, and production.
The Company has been implementing a targeted program to improve the energy efficiency and energy conservation since 2010, which is one of the essential business planning aspects of the TATNEFT Group. The annual reduction rate of consuming the fuel and energy resources is more than 1 or 40.7 thousand tonnes of conventional fuel. The Board of Directors approved the program expansion aimed at doubling the current rate of the energy efficiency improvement, including projects aimed at reducing the specific energy consumption of crude oil production through changing the displacement agent.
The Company s strategy takes into account the role of renewable energy sources and their importance for a cleaner, low-carbon energy future. The Board of Directors approved projects of constructing wind power plants, small hydropower development, advance heat recovery, primarily for HVO facilities of SVN aimed at significantly increasing the share of renewable energy in the energy production of the TATNEFT Group.
The boar of Directors also considered the implementation areas of the UN SDG, Goal 9 Industrialization, Innovation, Infrastructure . TATNEFT is expanding the Company s capabilities in the Company s value tree at the expense of the development and transfer of the best Company s technologies taking into account large-scale technological challenges. The plans provide for increasing the innovative projects cycle implementation efficiency from the idea to the financial result, including the time frame and the investment return. The Company considers that strengthening of the own research and educational centers is the most important condition for this. Strategic objectives also include the development of innovative opportunities in the infrastructure of cities and settlements in the territories of the Group s enterprises operation.
The Board of Directors considered the issue of the depository bank with regard to to the American Depositary Receipts program of PJSC TATNEFT and decided to appoint the Citibank, N. A. as the depository bank. The specified appointment will come into force in accordance with the terms of the depositary agreement. The owners of ADRs will be notified of the change of the depositary bank and no action will be required from the owners of the ADR in connection with the upcoming change.
Several other issues were also considered at the meeting.
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.
TATNEFT announces the VIth competition for grants provision of PJSC TATNEFT Company.
OOO Nizhnekamsk Truck Tyre Factory (NZGSh) of the KAMA TYRES, which is part of the TATNEFT Group s tyre manufacturing business, received a loan for the modernization of the export-oriented production of solid steel truck tyres and the creation of an oversized tyres production in the Russian Federation.