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TATNEFT Took Part in a Traditional Oil Summit

The annual traditional summit of the republican oil companies’ leadership with participation of Rustam Minnikhanov, President of the Republic of Tatarstan, was held on July 13.

TATNEFT Took Part in a Traditional Oil Summit

The annual traditional summit of the republican oil companies’ leadership with participation of Rustam Minnikhanov, President of the Republic of Tatarstan, was held on July 13, 2016.

A report «On the results of TATNEFT’s activities in the 1st half of 2016» was presented to the audience by Nail Maganov. According to Director General, TATNEFT in conditions of the world oil prices instability and currency rate fluctuations was implementing a wide range of compensatory production and economic measures, including introduction of modern technologies, building new relationships with contracting organizations, organizational arrangements, including those aimed at improving labor productivity. Positive results were yielded by implementation of the import substitution programs for the main business areas of the Company’s activities.

According to Nail Maganov, there is a strategy of the TATNEFT Group of Companies development up to 2025 shaped with the purpose of further enhancing the Company’s competitive status in the context of business areas. The strategic goal is to double the current value of the Company, i.e, double the growth of the Company’s market capitalization in dollar terms by 2025 bringing it to 21.5 billion dollars.

The identified most important strategic initiatives include the growth of profitable oil production based on the existing resource base, reducing the operating costs level by at least 10% and ensuring growth of the investment efficiency.

The main tasks in the area of ​​refining are the completion of the full TANECO’s Complex first stage construction and construction of the second stage. After commissioning the refinery’s deep oil conversion plants the processing depth will reach 97% with the yield of light oil products amounting to 90%.

The Company plans developing high-margin sales channels for new TANECO’s high-quality products in the regions of Russia and abroad. The main tasks of the retail business segment development refer to the updated brand concept of TATNEFT’s filling stations, strengthening their positions within an 850 km radius from the TANECO Complex, pinpoint development of stations on key traffic ways, as well as improving the quality of services and active development of additional services at the filling stations.

Availability of the Company's own generation assets allow improving the power supply reliability of producing divisions and the TANECO Complex and promote the competitiveness of the Group as a whole. There are programs under development and implementation to diversify the feedstock sources for the Nizhnekamsk CHP. The activities are underway at the generating facilities aimed at improving the reliability and efficiency of heat and electricity generation, as well as reducing the waste and cost of energy resources.

According to Nail Maganov, there are important challenges faced in improving competitiveness of the machine engineering branch. First and foremost it refers to covering the needs of the Company’s mining and processing assets in high quality equipment and coating for pipes. The plans provide for more than 2-fold production volume increase in this sector by 2025. The volume of external sales will exceed 50%.

Concluding his speech, General Director of TATNEFT stressed that implementation of the activities mentioned in the report would allow achieving the strategic development goals and increasing the investment capacity needed for future sustainable development and improvement of the business competitiveness.

In 2016, the summit was devoted to the 100th anniversary of Valentin Shashin, the outstanding figure of the oil industry, who used to head TATNEFT association in 1956 - 1960. The museum exposition of V.D. Shashin was arranged by the anniversary date at the summit.

The oil forum was also attended by Yevgeny Kiselev, Deputy Minister of Natural Resources and Ecology of the Russian Federation, Kirill Molodtsov, Deputy Minister of Energy of the Russian Federation, Farid Mukhametshin, Chairman of the State Council of the Republic of Tatarstan, top management and specialists of TATNEFT Company headed by Nail Maganov, General Director, Shafagat Takhautdinov, Assistant to President the Republic of Tatarstan on the oil industry, heads of petrochemical, crude oil refining, service and independent oil companies of the Republic.

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