Rus News Journal

Meeting of shareholders Tatneft

oil recovery grows In Tatarii

more than once noticed that the softened tax climate created by the Tatar authorities for Tatneft it has allowed this joint-stock company to be put forward in number of the best in the country of the oil-extracting enterprises for the basic indicators of activity. It was once again confirmed with the results of last year brought at recent meeting of shareholders Tatneft .

oil industry workers consider as the Major result of the last year the stabilisation which has outlined in Tatarstan of oil recovery. In 1995 extraction level for the first time for last 19 years has exceeded an indicator of last year: 24,41 million tons against 23,27 million On Russian NPZ Tatneft has put 12,1 million tons of raw materials, on the Kremenchug factory (Ukraine) - 4,7 million the Basic internal consumers of the Tatar oil are joint-stock company Nizhnekamskneftehim NORSI and Moscow NPZ. Export deliveries have reached 10,6 million tons that on 2,8 million more than in 1994. Geologists have successfully worked also: last year for the first time since 1966 the increase in the reconnoitered stocks of oil in Tatarii has exceeded volume of its annual extraction. It is developped 28,3 million t taken stocks.
financial results of activity " are rather quite good also; Tatneft . The valovyj income of realisation of production, works and services has reached 11,4 trln roubles. Expenses for one rouble of a commodity output have decreased with 80 to 73 copecks, the balance profit has made 2,4 trln roubles, and profitability on expenses for all kinds of activity has reached 32,9 %. These results have allowed joint-stock company to direct on payment of dividends 130 mlrd roubles that corresponds 51 % annual under ordinary actions and 80 % - on exclusive. However the much bigger part of profit (562 mlrd) should be distracted on replenishment of circulating assets as receipt of ready cash has considerably decreased - the share of offsets has reached two thirds of volume of realisation of production. The increase in the rate of the excise at oil has led to growth as debitorskoj (to 2,6 trln), and creditor (2,7 trln) debts. However as a whole Tatneft has kept positive balance of solvency at the expense of creation on NPZ liquid stocks of the ready oil products received from davalcheskogo of raw materials, and also at the expense of increase in oil-extracting capacities.
this year Tatneft plans to extract 23,1 million tons of oil (including 6,8 million - at the expense of increase of petroreturn of layers), 722 million 3 passing gas and to realise a commodity output on 8,8 trln roubles at its cost price of 7,8 bln. Profitability, thus, should make approximately 11 %, that, according to the general director Tatneft Rinata Galeyev, it is not enough for preservation of viability of the enterprise. He considers as an optimum level of profitability 25 - 30 %. An important problem of this year is end of structural reorganisation of joint-stock company in which course 6000 workplaces will be reduced.