The meeting reviewed the company’s budget execution in the first half of 2010 and approved a budget for August 2010.

(Kazan, July 27, Tatar-inform). The Tatneft board of directors has today, chaired by Tatarstan President and Tatneft board chairman Rustam Minnikhanov, held a regular meeting.

The meeting reviewed the Tatneft’s budget execution in the first six months and approved a budget for August 2010.

Reports on the course of the company restructuring and maintenance service efficiency in 2009-2010 were heard. The implemented organisational measures resulted in a decrease in personnel at subdivisions from 76 to 33 percent, and from 87 to 71 percent in the petrochemical complex. Over 9 thousand jobs have been created in the reporting period at the Taneco oil refining and petrochemical complex under construction, at the whole metal cord tyre plant and fibre optics plant, as well as at the Idea-South-East production facilities.

The conducted restructuring has allowed strengthen Tatneft’s position in the national oil branch and achieve solid financial and economic results.

The meeting discussed some other issues pertaining to JSC Tatneft’s operation, the company’s press service has said.
*A