Regular Meeting of the TATNEFT’s Board of Directors Was Held
The regular Board of Directors meeting of PJSC TATNEFT chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Kazan on June 20, 2020.
The Board of Directors considered results of the budget execution for the first half of 2020 and approved the budget for August of the current year.
The information on the activities related to the spread of the coronavirus infection was presented the meeting. During the period of fighting against the pandemic, new experience had been gained in prompt responding to emergencies associated with the epidemiological situation. New challenges associated with the pandemic had led, among other things, to the identification of new opportunities and the expansion of professional competencies: in particular, the widespread use of remote and distant work had made it possible not only to ensure the continuity of production processes, but also to increasing the efficiency and responsiveness, and improving software products quality. The most important measures that had proven their effectiveness, which had increased the Company’s stability in the face of the pandemic were as follows: formation of reserve crews at the crude oil production sites, processing facilities and the enterprises that ensured the functioning of socially significant infrastructure; measures aimed at reducing the crude oil production costs, as well as those operation the production facilities, increasing the competitive advantages of the products output, development of sales channels, etc. TATNEFT Company will continue to diversify projects further aimed at implementation of the most efficient or countercyclical efforts in order to prevent strategic, operational and management risks.
The implementation of preventive measures related to the pandemic will be continued. Their slacking will be introduced taking into account the risk-based approach and the production specifics. TATNEFT Company will continue providing support to medical institutions and social services in the region, as well as the socially vulnerable groups of the population.
The information was presented to the Members of the Board of Directors on the implementation of the sustainable development goal “Clean Water and Sanitation” by the Company within the framework of the UN Global Compact. Its accomplishment will ensure the rational use of water resources and sanitation in all respects and is in line with the goals of the TATNEFT Development Strategy until 2030. The Company strives for leadership positions in the industry in terms of the effectiveness of measures in the area of environmental protection. The projects being implemented will open up new opportunities and new market segments for the Company, along with for a favorable social environment in the regions of the Company’s presence and development of the human capital.
Forward-looking statements and disclaimers: This press release contains certain statements regarding future events and expectations, which are forward-looking statements in nature. Any statement in this press release that is not a historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ materially. PJSC TATNEFT shall assume no obligation to update such forecasts to reflect actual results, changes in assumptions or changes in factors affecting these statements.
The amounts and the interest money indicated or referenced in this press release may be given taking into account the rounding and, accordingly, they may differ from the actual figures and results contained in the Company's reporting documents. PJSC TATNEFT shall assume no obligation to adjust or reimburse any amounts that may make the difference between those specified in this press release and the relevant reporting documents, and all payments shall made by PJSC TATNEFT exclusively in accordance with the decisions of the competent Company’s management bodies in the amount and manner specified in such decisions.
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