Company news in July 2004 | |||
News
Mass media inform of the meeting of TNK-BP''s representatives with the republican senior executives, which was held in the Residence of the Udmurtian Republic President on July 1. The oil company met with the Udmurtian Government to get the latter acquainted with its further efforts aimed at reforming the company, the television channel reports. As part of the meeting, a presentation devoted to refinement of service enterprises making part of RTsSU Izhevsk LLC was held. At present the oil-production servicing enterprises are operating on the market independently. The oil company links development of the profitable service market with production refinement. This will enable TNK-BP to boost investments into the regional business and to boost crude oil output, the mass media write. The television channel cites Mr. F. Liubashevsky, TNK-BP''s Executive Vice President, Oil Services and the Procurement System, who noted that this refinement program is a long-term one. In addition, Mr. Yu. Pitkevich, Prime Minister of the Udmurtian Republic, who spoke to reporters after the meeting, noted that "service enterprises of RTsSU Izhevsk LLC generated the profit of RUR 43 million in 1Q 2004, and the forecast for the entire 2004 is equal to RUR 150 million. No doubt, this will have favorable implications for transfers to the Udmurtian budget." In addition, the Premier noted that salary growth by an average of 17% was planned in all of the service business units. The republican authorities represented by the Udmurtian Premier share TNK-BP''s policy aimed at improving the company's competitive standing, the mass media conclude.
Source: Novy Region television channel