London Stock Exchange welcomes PJSC Tatneft - 20th Listing Anniversary
On 12th December PJSC Tatneft, a leading Russian crude oil producer, commemorated the 20th anniversary of its GDR listing on London Stock Exchange by opening the Market. Tatneft was one of the first Russian companies that offered its equity securities to international investors. The 1996 offering was a critical step in raising much needed capital at the time, while the listing accelerated the process of shaping Tatneft as a modern public company.
The General Director of PJSC Tatneft Mr. Nail U. Maganov, after opening the Market, noted that the listing anniversary is a great opportunity to thank the Company’s shareholders, London Stock Exchange and its many other partners and advisors for supporting Tatneft in its growth journey over the last 20 years and to mark a new phase of the Company’s development towards its recently approved Strategy 2025 goals.
On the same day Tatneft held its Investor Day meeting at the London Stock Exchange to present its plans for 2017 and discuss key business expansion projects with the Company’s investors and stock market analysts.
About PJSC Tatneft:
PJSC Tatneft is vertically integrated oil company, producing over 550 thousand barrels of crude oil per day and refining about 165 thousand barrels of oil a day at its modern TANECO refining complex. The Company’s headquarters and most its assets are located in the Republic of Tatarstan, a sub-federal region of the Russian Federation. The Company is utilizing a wide range of modern technologies in its operations, supporting the production of crude oil from mature oil fields with the maximum efficiency and allowing it to successfully tap hard to recover reserves such as highly viscous oil, as well as to offer customers high quality refining products. Tatneft is currently implementing its recently adopted Strategy 2025 which implies, amongst other initiatives, organic growth of crude oil production and expansion of the Company’s refining capability, ultimately aimed at doubling the value of Tatneft by 2025. Tatneft listed its GDRs on the London Stock Exchange in December 1996, becoming one of the first Russian issuers that secured access to international equity markets. The Company’s shares are listed on the Moscow Exchange.