Last checked at 21 Mar 2016 09:36
March 21, 2016
Tatneft acquired shares of Nizhnekamskneftekhim and TANECO
PJSC Tatneft (the "Company") acquired 24.9% shares of PJSC Nizhnekamskneftekhim and 9% shares of JSC TANECO
Refining and petrochemicals development is one of strategic goals of the Company.
Acquisition of PJSC Nizhnekamskneftekhim shares will allow the Company to strengthen its positions on petrochemical and refined product markets, increase depth of refining of crude oil and increase the added value of the Republic of Tatarstan-based production.
JSC TANECO is one of the key companies of Tatneft Group. First phase of the Nizhnekamsk Refining and Petrochemical Plants Complex was put into operation in December 2011. Completion of all facilities of the Complex will increase depth of refining to 97% and light products will constitute 90% of production. Currently works are performed to increase annual refining to 14 mln tons. As a result of acquisition of 9% shares of TANECO, the Company will become its sole shareholder
Forward-looking statements: This statement may contain certain forward-looking statements of PJSC Tatneft. PJSC Tatneft does not guarantee occurrence of any events mentioned in such statements as well as term of their occurrence.