Tatneft expands the range of base oils, announced the sale of its tire business

Kazan, May 16 - Neftegaz.RU. The TANECO Complex mastered the production of the Tatneft’s VHVI-6 (TANECO base 6) base oil with a viscosity of 6 centistokes (cSt).

As a result of the plant reconstruction for the production of base oils, during which a furnace and a vacuum column were installed, it became possible to produce oils with a viscosity of 6 cSt in addition to the previously produced base oils with the viscosity of 2 cSt and 4 cSt.
The total capacity of the plant still remains equal to 250 000 tonnes per year.

Lubricants obtained on the basis thereof will be able to operate in a wide temperature range, they will have high oxidation stability, low tendency to form deposits and will provide the necessary service life of the mechanisms.

The base oils with a viscosity of 6 cSt can be used at the Tatneft oil refinery to produce premium motor oils.
The new products output at TANECO is another contribution of Tatneft to the import substitution of oil products necessary for the development of the domestic industry.
Tatneft said:

• The importance of this project for Tatarstan´s economy is emphasized by the inclusion thereof into the Strategy for the Development of the Fuel and Energy Complex of the Republic until 2030
• The 6 cSt viscosity base oils are in great demand both in the domestic as well as the export markets

Tatneft also signed an agreement to sell the tirebusiness of Tatneft Group to Tatneftekhiminvest-holding, which is not a member of Tatneft Group.

The transaction framework covers, inter alia, Tatneft Group participation in Management Company Tatneft-Neftekhim, in Nizhnekamsk All-Steel Tyre Plant and TD KAMA, as well as the shares in Nizhnekamskshina, Nizhnekamsk Mechanical Plant and Yarpolimermash-Tatneft.

Considering significant changes in the economic environment, including those caused by geopolitical processes, the sale of the tire business would allow Tatneft Group to focus on its key strategic projects.
The company noted:

• The transaction to sell the tire business does not lead to any changes in personnel, decrease of social or any other obligations with respect to the tire business’ employees