Meeting of the Board of Directors of Taneko

A meeting of the Board of Directors of OAO TANECO Chaired by Nail Maganov, First Deputy General Director – Head of URNiN Department of OAO TATNEFT was held on June 28.

The main agenda item was the issue on the production plan implementation in May of the current year. The volume of 665,341 tons of crude oil was processed in the operation and comprehensive testing the optimized start-up complex of phase 1A1 facilities. Operations during the period under review resulted in production of 9,764 tons of NGL, 90,971 tons of straight-run gasoline, 216,673 tons of domestic furnace fuel, 14,499 tons of low-viscosity marine fuel, 175,795 tons of heating fuel oil, 154,847 tons of vacuum gas oil, 8,202 tons of visbreaking naphtha, 423 tons of sulfur and 4,763 tons of hydrocarbon gas for the fuelling network.

Production capacity utilization of CDU-VDU-7 exceeded 104 percent versus the design figure with the processing conversion depth exceeding 72 percent and the yield of light oil products amounting to about 49 percent.

The Board of Directors approved a plan of raw materials processing and products output for July 2012.

Information about the budget formation for the coming month and the budget execution for the past month was presented to the meeting. Members of the Board of Directors approved the feasibility and the financial performance figures of OAO TANECO in 2012. The main objective pursued by the Company is to continue bringing all the first start-up complex facilities to the mode of a stable and reliable commercial operation, increasing the crude oil processing depth and fulfillment of the planned targets for production of quality petroleum products.

The Board of Directors also considered a number of other issues of financial and economic activity of OAO TANECO.


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