OREANDA-NEWS. A regular meeting of the Board of Directors of PJSC TATNEFT was held in Almetyevsk on April 25, 2016 The Company’s Board of Directors summed up the results of the budget execution in the first quarter of the current  year and approved the budget for May.

Members of the Board of Directors discussed the results of financial and economic activity of PJSC TATNEFT in 2015.

The amount of 26 million 927 thousand tonnes of crude oil was produced at the Company's fields in the Republic of Tatarstan last year, which was 2.7% more than in 2014. The amount of high-viscosity oil produced at Ashalchinskoye field totaled 376,000 tonnes with the ultimate amount produced since the beginning of the thermal methods application totaling 939,000 tonnes of HVO as of January 1, 2016. Total production of the TATNEFT Group of companies amounted to 27 million 249 thousand tonnes of oil.

352 new production wells were commissioned. The volume of collected associated petroleum gas amounted to 899.5 million cubic meters.

Net revenues (without VAT and export duties) amounted to 463 billion rubles. Net profit amounted to 85 billion rubles. The total amount of taxes and payments to all levels of the budget amounted to 263 billion rubles.

The Company spent 97 billion rubles on the implementation of the investment program for all types of production activities of the TATNEFT Group of Companies, which was 28 billion rubles higher than the previous year’s amount. The investment growth was due to increased investment in the development of HVO fields and the further development of the TANECO Complex.

Information was presented to the Board of Directors meeting about the work of the Audit Committee, the Annual General Meeting of Shareholders, the dividends on the shares of TATNEFT and the Board of Directors also considered a number of other issues of the Company/s activity.