Tatneft to elect new board, Tatarstan's head nominated as chairman.

.Tatneft to elect new board, Tatarstan's head nominated as chairman.

KAZAN, June 23 (Itar-Tass) -- Tatneft company will elect on Thursday
new board of directors.
Tatarstan's Head Rustam Minnikhanov is nominated as the state
representative, the company's press service reported.
"The list of candidates includes 15 names, among which are ministers
of finances, of land and property relations," the source said. "The
management initiated candidatures of Director General Shafagat
Takhautdinov and his four deputies."
Tatneft is one of the largest, internationally recognised Russian oil
companies, operating as a vertically integrated Group. The company ranks
sixth in Russia by the volume of oil production after Rosneft, Lukoil,
Surgutneftegaz, TNK-BP and Gazprom neft. In 2010, it produced 25.8 million
tonnes of oil, and net profits made 50.6 billion roubles.
In the competitive refining market the company develops its own
facilities, at the same time expanding the export of oil, gas and
petrochemical products.
The main shareholder is the Republic of Tatarstan through its holding
company Svyazinvestneftekhim, which holds 30.4% of Tatneft. The Government
of Tatarstan holds also a golden share in the company.
As of 1 July 2010, Tatneft had 626 filling stations, of which 490 are
located on the territory of the Russian Federation and 136 are located in
Ukraine.
In addition to Russia, it conducts exploration and production
operations in Libya, Angola, Syria, Iran, Vietnam, Oman and Saudi Arabia.