The Russian oil company attributed 45% of the total crude oil production to the implementation of up-to-date crude oil recovery methods. Tatneft also reported that the company’s revenues from the sale of crude oil amounted to RUB174 billion in 2006, and that its balance sheet profit came in at RUB50.5 billion in the same period.
Tatneft also commented that its board of directors has decided to recommend a dividend for 2006 of 460% of the face value for the privilege shares and 460% of the face value for the ordinary shares. The board will recommend that the dividends be paid in cash between July 1, 2007 and December 31, 2007.
Tatneft’s board of directors has also approved the agenda of the company’s annual shareholders meeting, which is to be held on June 29, 2007. Tatneft said that, during this meeting, a number of proposals will be made to the company’s shareholders, including a number of changes and amendments to the articles, the provisions on the board of directors and to the company’s management board.
Tatneft also said that its board of directors would recommend that the shareholders’ meeting approve ZAO Energy Consulting/Audit as Tatneft’s auditor for one year.
