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

Марта 25, 2021

The TATNEFT Company and the Russian Ministry of Energy signed an investment agreement on the creation of new production facilities at the TANECO Refinery Complex in Nizhnekamsk.

The agreement, concluded for the period until January 1, 2031, provides for the construction of 4 oil refining facilities by the end of 2026 with a total investment of more than 50 billion rubles, including delayed coking units, catalytic cracking units, heavy residue hydroconversion and isodewaxing diesel fuel (hydroisodewaxing).
 
These units will increase the depth of oil refining at the TATNEFT refinery complex and ensure the production of high-quality and highly environmentally friendly products: Euro-6 gasoline, Arctic diesel fuel that meets Euro-6 requirements and even more stringent environmental Scandinavian specifications.
 
In accordance with the signed Agreement, an investment premium will be received to the returnable excise tax on crude oil for the implementation of these projects.
 
Head of Business Unit "Oil and Gas Processing", General Director of JSC "TANECO" Ilshat Salakhov:
 
"The investment premium mechanism is an effective economic incentive for the implementation of large-scale projects with significant effect, which ensures the country's energy security and contributes to the development of related industries and the Russian economy as a whole”.
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