Tatneft's Revenue in 2019 Increased by 3% Up to 800 Billion Rubles
At the same time, profit from sales of products remained at the level of 2018. The production volume of the Tatneft group amounted to 29.8 million tons, an increase of 0.9%. A production plan for 2020 will be determined based on Russia's policy on cooperation with OPEC+. It's planned to process 11.5 million tons of raw materials at the Taneko complex in 2020 compared to 10.8 million tons in 2019.
In 2019, it was possible to increase refining due to the commissioning in August of the second primary oil refining unit ELOU-AVT-6, with a capacity of 6 million tons per year. Earlier it was reported that this will allow Taneko to reach the processing volume of 15.3 million tons per year in the coming years.
The main shareholder of Tatneft is the Republic of Tatarstan, which owns more than 36% of the company's ordinary shares. About 3% falls on treasury shares, 25.75% is placed in ADR. Other shareholders own 34% of the shares, among them there are no owners of more than 5% of the authorized capital.