Neste’s divestment of fuel retail business in Russia has been finalized
In July 2019, Neste Corporation announced that it had signed an agreement to sell its fuel retail business consisting of 75 fuel stations and a terminal in North-Western Russia to PJSC Tatneft, one of the leading integrated oil and gas companies in Russia. The transaction received the approval of the Russian competition authorities on 4 October and was closed on 31 October.
Tatneft in brief
PJSC Tatneft (TATN, Moscow Exchange; ATAD, LSE) is one of the largest vertically integrated oil companies in Russia with its core operations located in Tatarstan, Russian Federation. In 2018 Tatneft Group produced 29.5 million tonnes (210.4 MMbbl) of crude oil and 925.3 million cubic meters of gas. Tatneft operates the most modern and one of the most complex refineries in Russia TANECO. In 2018 Tatneft produced over 8.9 million tonnes of refined products with the light product yield of around 84%. In 2019 with the launch of the second initial processing unit CDU/VDU TANECO’s daily processing of crude oil is expected to reach 203 000 barrels, and in the future, following the completion of additional deep conversion units, approximately 293 000 barrels of crude oil per day. Apart from crude oil and gas production and refining activities, Tatneft is also involved in petrochemicals’, mainly tires, production and marketing, manufacturing of equipment for the production, treatment and refining of oil and gas, as well as engineering, procurement and construction services for oil, gas and petrochemical projects, and from 2016 Bank ZENIT is part of Tatneft Group. Tatneft’s consolidated sales and other operating revenues on non-banking activities net of export duties and excise taxes in 2018 were 910,534 million Rubles (US$ 14,520 million). Additional information is available at www.tatneft.ru
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates sustainable solutions for transport, business, and consumer needs. Our wide range of renewable products enable our customers to reduce climate emissions. We are the world’s largest producer of renewable diesel refined from waste and residues, introducing renewable solutions also to the aviation and plastics industries. We are also a technologically advanced refiner of high-quality oil products. We want to be a reliable partner with widely valued expertise, research, and sustainable operations. In 2018, Neste’s revenue stood at EUR 14.9 billion. In 2019, Neste placed 3rd on the Global 100 list of the most sustainable companies in the world. Read more: neste.com