Tatneft expects oil extraction growth on the results of the year

​On the results of 2015 Tatneft group extracted 27.249 mln tons of oil, in January – 2.357 mln tons. Even at the current prices the extraction stays profitable, the head of Tatneft, N. Maganov.

In January the extraction grew. The programs of expenditure cutting, saving of resources – economic, material, labor – have been worked out. The company exceeds the plan on expenditure cutting. If the expenditure is low, we aren’t afraid of any prices, Mr. Maganov said.

On the results of 2015 Tatneft extracted 27.249 mln tons of oil, in Jan – 2.357 mln tons.

Russia, Saudi Arabia, Venezuela and Qatar at the meeting on Feb 16th agreed on such a measure as keeping the extraction in 2016 at the level of January but only if other producers join this idea. There is no final decision as yet.