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TATNEFT and Russian Energy Ministry signed an investment agreement on the development of advanced oil refining

The project implementation of the TANECO Refining & Petrochemical Plants Complex started in 2005 with the aim of developing a new stage of the refining industry in Tatarstan

Kazan, March 25 - Neftegaz.RU. TATNEFT company and the RF Ministry of Energy have signed an investment agreement on the creation of new production facilities at the TANECO refinery and petrochemical plants complex in Nizhnekamsk.

The agreement concluded for the period until January 2031, provides for the construction of 4 oil refineries by the end of 2026 with a total investment amounts of more than RUB 50 billion ($653 million), including delayed coking units, catalytic cracking units, heavy residue hydroconversion and isodewaxing diesel fuel (hydroisodewaxing).

These units will increase the advanced conversion factor of crude oil refining at the TATNEFT Oil Refining Complex and ensure the production of high-quality and highly environmentally friendly products: Euro-5 gasoline, Arctic diesel fuel that meet Euro-5 requirements and stricter environmental specifications of Scandinavian countries.

Ilshat Salakhov, Head of the Oil and Gas Processing Business Unit, General Director of TANECO said:
  • The investment premium mechanism is an effective economic incentive for the implementation of large-scale projects with a significant national economic effect, which ensures the country's energy security and contributes to the development of related industries and the economy of the whole Russia
In accordance with the signed Agreement,the company will receive an investment premium to the returnable excise tax on crude oil for the implementation of these projects.

To read the news in Russian

Source : Neftegaz.RU

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