OREANDA-NEWS. A regular meeting of the Board of Directors of JSC TATNEFT, chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Almetyevsk (Republic of Tatarstan), on February 26, 2014.

In the course of the work the Board of Directors summarized the results of the JSC TATNEFT's budget execution in January and approved the budget for March 2014.

The Board of Directors was presented a report on the outcome of the Internal Audit Department activities for 2013. The experts of the Department performed 11 planned audits during the reporting period on various aspects of the financial and economic activities of the Company. The Department also actively participated in implementation of nonscheduled projects, including development of the logistics strategy and analysis of the hotline operation at the trade and procurement platform.

The Board of Directors Meeting discussed the implementation progress of the third phase of the JSC TATNEFT's resource conversation program being operated since 2011. Its implementation resulted in the following figures: saving of fuel and energy resources in real terms amounted to 115.5 thousand tons of reference fuel with the own generation amounting to 4.3 billion kWh of electricity and saving of energy, natural and physical resources in terms of money in the amount of 3.8 billion rubles.

The Board of Directors discussed the strategy of the product portfolio and sales of the Company's tire complex until 2018. It provides for creation of new brands and price repositioning of the existing ones and creation of new tire models, improving the organizational structure of marketing and sales, as well as a number of other targeted activities.

The Board of Directors considered the issue of holding the annual general meeting of shareholders on the results of the Company's activities in 2013.