Rustam Minnikhanov reelected Board Chairman of Tatneft Oil Company

29 June 2020, Monday

On June 29, at the Government House in Kazan, the first board meeting of the Tatneft Oil Company after the Shareholders’ General Meeting was held. 

Tatarstan President Rustam Minnikhanov was unanimously reelected the Board Chairman of the Tatneft Oil Company.

The Board considered results of the budget execution for the five months of 2020 and approved the budget for July and the third quarter of the current year.

The information about the practical implementation of the sustainable development objectives in the activities of the company was presented to the Board. Having joined the United Nations Global Compact in 2019, Tatneft  has recognized and supports 17 UN goals. To further address the company's challenges in the field of sustainable development, implementation initiators were identified who oversee the work in the following areas: “good health and well-being", "quality education", "clean water and sanitation", "low-cost and clean energy", "industrialization, innovation and infrastructure”, “sustainable cities and populated localities”, “responsible consumption and production”, “climate change combating”, “conservation of terrestrial ecosystems” and “partnership in the best interests of sustainable development”.

The Board approved three goals as priorities for the integration into corporate business processes, including ensuring the availability and rational use of water resources and sanitation for all parties, taking urgent action to combat climate change and its impacts, protection and restoration of terrestrial ecosystems and promotion of their rational use, sustainable forest management, combating desertification, ending and reversing the process of land degradation and ending the process of biodiversity loss.

The Board reviewed the information on the progress of the Domanik and the Bitumen projects, which the Tatneft is using to create and test technologies for the effective management and development of hard-to-recover reserves (TRIZ). The work at the TRIZ test sites will be continued as planned.

Members of the Board considered and approved the Risk Management and Internal Control Policy of the Tatneft Company. 

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