Under the conditions of new challenges, Tatneft will study and work out options for the development of new investment projects with a primary focus on the domestic market. The statement was made by the company on the results of the meeting of the Board of Directors.
In addition, Tatneft will work on import substitution and building production chains to the end consumer as well as on development in regions of the world with favorable conditions.
The Board of Directors of the company also adopted a decision on the formation of a strategic option for the development of Tatneft, which will be submitted for approval to the Board in August 2022.
Oil and gas chemistry was approved as the priority vector of Tatneft's development: the company will study the sustainability of projects in this area in the conditions of sanctions restrictions and make investment decisions based on the results. After the external conditions have stabilized, Tatneft will update macroeconomic prerequisites and the portfolio of strategic projects.
Tatneft is among the top ten largest Russian companies in terms of oil production volumes. The major shareholder of Tatneft is the Republic of Tatarstan, which holds more than 34% of the Company's ordinary shares. Approximately 3% are treasury shares and 23% are ADRs. Other shareholders own 40% of shares.
GSV "Russia - Islamic world"
Photo: Creative Commons
Based on materials from TASS