Tatneft plans to increase the output of chemical products to 1.6 million tons by 2030

The portfolio of Tatneft projects until 2030 cost more than 1.7 trillion rubles, about 40% of which are businesses not related to oil exploration and production. It is noted that, regardless of the external scenario, all projects have a margin of safety and will provide a return on capital above the cost of attracting it.

In the key area - exploration and production - the company will maintain the effective use of its own proven oil reserves, which are estimated at 810 million tons at the beginning of 2022. This allows, under favorable conditions, to increase oil production to more than 38 million tons per year.

One of the key points of growth is the petrochemical complex, which projects are being implemented focused on the domestic market and import substitution. The output of chemical products at the enterprises of the Tatneft group by 2030 should exceed 1.6 million tons per year," the press release says.

The company sees additional growth potential in business areas focused on the domestic market - tire business, composite materials, energy, including renewable. 

News source: rupec.ru.