OREANDA-NEWS. The "TANECO" Board of Directors meeting was held in Nizhnekamsk on June 20, 2014.

Nail Maganov, General Director of JSC TATNEFT, was re-elected as Chairman of the Board of Directors at the meeting.

According to the agenda the Board of Directors was presented the reports of the "TANECO" Executive Directorate on the technical, economic and financial performance of JSC "TANECO" in May of the current year. The refinery processed 728,663 tons of crude oil with the refining depth amounting to 74.32 percent. The amount of 83,702.5 tons of Euro 5 diesel fuel was produced during the reporting period, which is currently also being sold at more than 190 TATNEFT's filling stations.

The members of the Board of Directors gave their approval to the execution of the production plan and budget in the reporting period and approved the budget for July 2014. The Board of Directors meeting also approved technical and economic indicators, the plan of oil refining and petroleum products shipment, as well as the financial performance of JSC "TANECO" for Q3 of 2014.

The Board of Directors took note of the information on improving the efficiency of crude oil refining at the existing facilities. Implementation of the measures developed jointly by the experts of JSC TATNEFT, JSC "TANECO" and OOO "INCO-TEK" allowed increasing the productivity of ELOU-AVT-7 facility (CDU/VDU) from 100 to 115 percent.

The JSC "TANECO" Board of Directors also took decisions on a wide range of issues related with the industrial activities and further construction of the Oil Refining and Petrochemical Plants Complex.