There was a regular meeting of the Board of Directors of the PJSC "Tatneft"

A regular meeting of the Board of Directors of the PJSC "Tatneft" was held today in Kazan under the chairmanship of the President of the Republic of Tatarstan, Rustam Minnikhanov.

The meeting reviewed the performance of the company's budget for the eight months of 2017 and approved the budgets for October and Q4 of the current year.

The Board of Directors heard the information about the outcome of the financial and economic activities and prospects for the development of petrochemical block enterprises.

According to the strategy of tyre business development, the sales of tyres by 2015 should reach the level of 16.2 million pcs. per year, and the indicator of EBITDA - by five times related to 2015 - up to 14.5 billion rubles. The main activities to achieve the set objectives are: implementation of a long-term program for the development of assortment of tyres "Viatti" and CMC, expansion of the material and technical base of the research and development centre " Kama" , optimization of production processes, import phaseout,, marketing development, expansion of the retail trade and service centers "Tyre & Service".

The meeting discussed the information on the company's innovative (technological) development strategy. A system of creation of intellectual values, starting from the appearance of the idea and finishing its implementation into production process, obtaining of security documents and commercialization, has been built in the PJSC "Tatneft". Currently, there is a continuing process of debugging and improving the efficiency of managing innovative activities, filling the portfolio of innovative technologies.

A number of other issues of the activities of PJSC "Tatneft" has been also considered during the meeting of the Board of Directors.

Statements of forecasts: The present materials contain certain statements in respect of the future events and expectations, which are the forecasts by nature. Any statement in these materials, which is not a historical fact, is a statement of forecasts and includes known and unknown risks, uncertainties and other factors, that can alter the real results, accomplishments and achievements, set out in such forecasts. The PJSC "Tatneft" does not undertake any obligation to update such projections to reflect real results, changes in assumptions or changes in factors, influencing the statements