November 23, Board of Directors of “Nizhnekamskneftekhim” INC held its regular session presided by A. Shigabutdinov, General Director PSC “TAIF”.
For the current year 9 months, the commodity output amounted to RUR 39.9bn which is 14.7% higher as referenced to 9 months of the year 2006. In comparable prices with regard to a relevant last year period, that constituted 104.3%. The Company arranges in time and in full for payments to the budgets of all levels.
Board accepted the results of "Nizhnekamskneftekhim" INC operations over the current year 9 months and underlined their positive outcome.
Board approved a production program, finance and investment plans for the year 2008. A total volume of estimated proceeds will run to RUR 63.1bn.
Board members reviewed the documents prepared by Management, relating to the Company's long-term development program considerations.
Board approved a Corporate Conduct Code, Statute of Internal Control Department, "Nizhnekamskneftekhim" INC Information Policy Regulations.
The session also discussed some issues of "Nizhnekamskneftekhim" INC financial and economic activity.