Friday, November 4, 2016

Tatneft expects profit in 2017 at the level 84.2 billion rubles – REGNUM

Kazan, November 3, 2016, 23:10 REGNUM, PJSC “Tatneft” in 2017 plans to receive net profit of $ 84.2 billion rubles. The forecast for financial and economic activities of the company were discussed during the meeting of the Board of Directors, chaired by the head of Tatarstan Rustam Minnikhanov, reports a press-service “Tatneft”.

According to the development strategy of the company, next year it is planned to produce 28.6 million tons of oil excluding its subsidiaries.

it is Also planned to profit before tax of $ 106,701 billion rubles, the net profit will thus amount 84,173 billion.

Recall that in August this year “Tatneft” has approved the company’s development strategy until 2025. According to the plans, by that time, production will increase to 30.3 million tons, increase the capacity of oil refining complex TANECO to 14 mln tons. Investment will amount to 675 billion, including capital expenditures of exploration and production — 367 billion rubles, in processing — 232 billion.

As previously reported REGNUM, at the end of 2015, “Tatneft” increased its production by 2.7% to 26.9 million tons, compared with 2014. Last year, the oil refining complex TANECO processed 9.25 million tons.

Net profit “Tatneft” relating to the shareholders for FY 2015 increased compared with 2014 by 5,8% up to 98,9 billion. Revenue increased by 16% and amounted to 552,7 billion.

the net profit of Tatneft for the first half of 2016 fell by 13.4% compared to the same period last year and amounted to 48.5 billion rubles.

“Tatneft” works on the territory of Tatarstan, Kalmykia, Samara, Ulyanovsk, Orenburg regions and the Nenets Autonomous district. The headquarters of the company is located in Almetyevsk.

accounting for more than 80% of oil production in Tatarstan and more than 8% of production in Russia.

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