Tatneft

PJSC Tatneft engages in exploration, development, and production of crude oil in Russia and internationally. It holds interests in oil and gas fields located in Tatarstan in Russia. The company is also involved in the refining and marketing crude oil; and the purchase and sale of crude oil and refined products. In addition, it produces and sells tires; and manufactures and sells equipment, as well as provides engineering, procurement, and construction services for oil, gas, and petrochemical projects. Further, the company sells oilfield equipment, and auxiliary petrochemical related services and materials. Additionally, it is involved in the banking activities. PJSC Tatneft was founded in 1950 and is headquartered in Almetyevsk, Russia.

Tatneft was created by the Decree of the Council of Ministers of the USSR in April 1950 as a production association under the Ministry of Oil Industry of the USSR by uniting several drilling and derrick maintenance crews operating in Tatarstan.Upon its establishment Tatneft commenced the production from various crude oil fields in Tatarstan, most notably the Romashkino unique super-giant field discovered in 1948. By 1956 Tatneft became the largest crude oil producer in the USSR. In 1971 Tatneft extracted the 1st billionth tonne of crude oil. The annual crude oil production by Tatneft reached 104 million tonnes in 1975. In 2019 Tatneft's annual production was 29,798 thousand tonnes or 212,252 thousand barrels.In 1994, upon its privatization Tatneft was reorganized into an open joint stock company. In October 1995 Tatneft shares started to be quoted on the Russian Trading System and became one of the first constituents of the RTS Index RTSI. In December 2016 Tatneft listed its American Depositary Receipts on the London Stock Exchange LSE: ATAD Tatneft also had its ADRs listed on the New York Stock Exchange between March 1998 and September 2006.In August 1999, Tatneft shares were listed on MICEX. Currently the Moscow Exchange is the primary market for Tatneft's ordinary MCX: TATN and preferred MCX: TATNP shares, and the London Stock Exchange LSE: ATAD for its ADRs.

Tatneft's ADR program is registered with the US Securities and Exchange Commission as Level 1.In 2005 Tatneft launched the project of building a new large refining and petrochemicals complex in Nizhnekamsk, Tatarstan, which was called TANECO . The first stage of the new refinery complex was completed in 2010 and put into operation in 2011.

In 2006 Tatneft launched the project of developing heavy oil natural bitumen reserves in Tatarstan. After exploring various options of carrying out the project in cooperation with its global peers, Tatneft decided to do so on its own. As of 31 May 2020 Tatneft is producing over 65 thousand barrels of highly-viscous oil per day from 1042 horizontal wells.Since September 2018 Tatneft is implementing the Strategy until 2030, which encompasses amongst other things the growth of crude oil production, expansion of Tatneft's refining capability, its service stations network, and the development of petrochemicals segment.In 2019 Tatneft acquired from Neste Oil Corporation the Russian fuel retail business consisting of 75 fuel stations in North-West Russia and a terminal in Saint Petersburg.In November 2019 Tatneft completed the acquisition of certain assets, including the production of various types of synthetic rubber used for the manufacturing of high-performance tires, located in Togliatti, Samara Region, Russia, from SIBUR.

Company's positions as one of the leaders of the Russian oil industry.