A regular Board of Directors of OAO Nizhnekamskneftekhim was held on September 2, 2010 under the chairmanship of Mr. A. Shigabutdinov, general director of TAIF JSC and Chairman of the Board of Directors of OAO Nizhnekamskneftekhim.

The financial and economic results of the company were reviewed for 6 months of 2010. For the last 6 months the sales volume was over 44 billion rubles which is 1.7 times higher compared to the similar period of 2009 and by 17% higher than the 6 month period of 2008. More than 52% of production was exported. Net profit reached 3.45 billion rubles.

OAO Nizhnekamskneftekhim makes payments to the budgets of all levels in due time and in full measure. 1.5 billion rubles of taxes and dues was transferred to the RF budget for the period under review and 1.3 billion rubles to the consolidated budget of the Republic of Tatarstan. Average number of employees following the results of the first half of the year was 17,100 people and the average salary was 24,250 rubles.

The Board of Directors pointed out the positive work results of OAO Nizhnekamskneftekhim management and overfulfillment of plans and substantial improment of general performance.

Members of the Board of Directors acknowledged the information about provision of raw materials for the company and improvement of efficiency and competitive market relations in the field of maintenance and technical upgrade.