24 May 2004 04:48
Tatneft board of directors reconfirms general director
MOSCOW. May 24 (Interfax) - The board of directors of Tatneft approved at a meeting in Almetyevsk on Monday General
Director Shafagat Takhautdinov for another five-year term, a Tatneft release says.
The board also discussed Tatneft's financial results in the first quarter of 2004, its budget performance for
the first four months of 2004 and approved the budget for June 2004.
The board also heard from the company's Deputy General Director and
main geologist Rais Khisamov on the effectiveness of new productive
The board also heard from the company's auditor Ernst & Young
Vneshaudit and about the results of a check by the audit commission on
The board examined and preliminarily approved the annual report, the bookkeeping report, the distribution of profits
for 2003 and suggested that the annual shareholders meeting review these documents.
drilling technology. The board decided to continue work in 2004-2005 on using new technology to open productive oil
deposits to further increase new well-yield when developing oilfields, the press release says.
The board of directors also decided to open a Tatneft office in Kremenchug, Ukraine.
Tatneft's finances in 2003, the release says.
Tatneft increased its net profits in the first quarter of 2004 by 70% year-on-year according to Russian accounting
standards to 5.5 billion rubles. The company's revenues were 32.2 billion rubles against 21.2 billion rubles in the
first quarter of 2003 and gross profit was 10.5 billion rubles, against 7.1 billion rubles year-on-year. [RU ASIA EUROPE
EEU EMRG ENR CRU ENQ CORA RES RESF] RM pr RTS$#&:
[Interfax] |
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