Tatneft introduces its production facilities to institutional investors
On 3 October, a number of institutional investors visited Taneco refinery complex to get acquainted with the group's key facilities and meet with the company's management, reports StockMarketWire. They were also presented the company's strategy until 2025.
The investors representing Prosperity Capital, TKB Investment Partners, East Capital, Sberbank AM, Franklin Templeton and Verno Capital investment funds as well as analysts and managers of Renaissance Capital visited the Taneco refinery complex on 3 October.
They were briefed on the operation of the key production facilities including the delayed coker unit. The launch of the latter this summer allowed Taneco to cease its mazut production, so the conversion rate increased to record 99% and the output of light products rose to 87%.
The investors also had an opportunity to observe the construction progress of the units designed to enhance the output quality (hydrotreaters, reforming, etc.) as well as the CDU-VDU-6 and other facilities of the project aimed at the expansion of the company's highly effective refining capability.
The meeting of the investors and Tatneft's management team headed by the director general was held at the company's headquarters in Almetyevsk. In his introduction, Nail Maganov stressed the investors' role in creation of the value of the company and the importance of understanding of the company's strategic goals and priorities by the market.
The deputy director general for Strategic Development Nurislam Syubaev presented the core aspects of the company's strategy until 2025 approved by the Tatneft's Board of Directors in early August 2016 (the presentation was published on the company's external website).
The strategy was calculated according to three main macro scenarios. It assumes the organic growth of oil production, the increased contribution of the refining segment to the company's value, decrease in the costs of the unit and other measures that will have cumulatively doubled Tatneft's value by 2025.