OREANDA-NEWS. February 01, 2011. A regular meeting of the Board of Directors of TATNEFT chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Kazan (Republic of Tatarstan), reported the press-centre of TATNEFT. 

The Board of Directors summarized the results of TATNEFT budget execution for 2010 and approved the budget for February 2011.

The Board of Directors was informed of the outcome of the Internal Audit Department operation with the following major subjects highlighted: the need to finalize an electronic trading platform and control of the purpose-oriented use of funds in the framework of the Company's projects.

The Board also considered at the meeting the tasks of improving control efficiency of works and services procuring, continuation of work on the unification of institutional structure of NGDUs (Oil and Gas Production Boards), and implementation of common approaches to determining the staff number of departments and services.

The Board of Directors also discussed a number of issues regarding preparation for the Company's annual general shareholders' meeting on the results of the Company's operation for 2010. Specifically the Board defined composition of the working committee.

The Board of Directors also considered a number of other issues of TATNEFT activity.