Risk management

In accordance with the main priorities of the corporate management organization for the TATNEFT Group, the Company is introducing an integrated system for risk management. Principal components of this system are as follows:

• A tool of qualitative evaluation of all possible factors, which can significantly affect the indicators of production and financial and economic activity of OAO TATNEFT, structural subdivisions, and enterprises of the Group, and have a direct or indirect influence on the current activity and strategic plans of the Company;
• A system of uniform corporate standards, regulating main processes of production and financial and economic activity of OAO TATNEFT, structural subdivisions, and enterprises of the Group.

Integrated system for risk management

This approach allows identification of real and potential risks and taking prompt measures for their elimination or mitigation, as well as correction business-planning, investment activity, and social policy.

When analyzing risk factors, all aspects of market, oil and gas, social and economic, political, financial, conjunctural and other conditions of activity of the Company and its associated and affiliate companies are considered. At the same time, all intracorporate factors — management, production, staff, social, and ecological - are considered. At present, the main production and corporate streams are provided with such procedures.