Tatneft
Russia
Volga Federal District of the Russian Federation
Almetyevsk
423450, st. Lenin, d. 75
Top managers:
Minnikhanov Rustam Nurgaliyevich
Maganov Nail Ulfatovich
Assets
Aktivs
At the beginning of 2016, TATNEFT operates in Tatarstan, Samara, Orenburg, Ulyanovsk regions, Nenets Autonomous Okrug and Kalmykia, the company's headquarters are located in Almetyevsk.
TATNEFT accounts for almost 8% of oil production in Russia and over 80% of oil production in Tatarstan. Proved reserves of TATNEFT by the beginning of 2015 amounted to 851.5 million tons of oil. At the beginning of 2011, Miller & Lents, an international consulting company, estimated proved developed, undeveloped and undeveloped oil reserves of TATNEFT at 836.5 million tons.
Digitalization
Main article: Digitalization in TATNEFT
Performance indicators
2024: Revenue growth 28% to ₽2 trillion
TATNEFT's revenue in 2024 increased by 28% and exceeded ₽2,03 trillion. Consolidated Financial Results under International Standards (IFRS) were published on March 13, 2025. The company noted that the increase in indicators is associated with an increase in production and processing volumes.
According to TASS, the company's net profit under IFRS in 2024 increased by 6.3% to ₽306,14 billion. Operating profit increased by 13% and reached ₽403 billion, while pre-tax profit increased by 15% to ₽421,1 billion.
At the same time, despite the positive financial dynamics, the company's oil production in 2024 decreased by 4.1% compared to the previous year and amounted to 27.283 million tons. In 2023 TATNEFT produced 28.45 million tons of oil.
The company managed to increase the production of petroleum products by 1.2% - to 17.123 million tons compared to 16.917 million tons in 2023. This indicates a shift in focus towards the processing of raw materials and the production of products with higher added value.
TATNEFT also recorded both impairment losses and recovery of previously recognized losses in its annual statements. For the year ended December 31, 2024, the Group recognized impairment losses on oil refining and petrochemical assets in the amount of ₽10,07 billion, tire business assets - ₽5,363 billion, assets related to the sale of oil and gas products - ₽1,617 billion, as well as assets related to exploration, assessment and production of oil reserves - ₽1,369 billion.
At the same time, the company restored an impairment loss on assets associated with the development of extra-viscous oil fields in the amount of ₽14,461 billion, as well as other assets in the amount of ₽37 million.
TATNEFT is one of the ten largest Russian companies with 80 years of experience in terms of oil production. The main shareholder of the enterprise is the Republic of Tatarstan, which owns 34% of ordinary shares. About 3% of the shares are treasury shares, 13% are placed in the form of American depositary receipts (ADRs), and the remaining 50% of the shares are owned by other shareholders.[1][2]
2023: Growth in profit by 1.2% to 287.9 billion rubles
At the end of 2023, TATNEFT's net profit reached 287.9 billion rubles. This is 1.2% more than in the previous year, when this figure was 284.6 billion rubles. Such data are given in the financial report published in mid-March 2024.
TATNEFT's revenue in 2023 amounted to 1.589 trillion rubles, which is 11.3% more than in the previous year (1.427 trillion rubles). The company's pre-tax profit decreased on an annualized basis by 3.8% - to 365.5 billion rubles. Profit from continuing operations amounted to 286.3 billion rubles against 299.2 billion rubles in 2022.
In the total revenue of TATNEFT in 2023, oil accounted for 577.4 billion rubles, oil products - 892.7 billion rubles. For comparison: in 2022, these indicators amounted to 533 billion rubles and 792.2 billion rubles, respectively. Thus, growth was recorded on an annualized basis by 8.3% and 12.7%. Another 22.3 billion rubles in 2023 brought the sale of tires. Other areas of activity accounted for 96.6 billion rubles: this category includes the sale of materials, equipment, some types of petrochemical products, various types of oilfield services, as well as the sale of energy, water and steam to third-party enterprises.
Operating expenses of TATNEFT for 2023 amounted to 200.2 billion rubles, an increase of 13.4% compared to 2022. These consist of oil production costs, refining costs, employee compensation costs, and other sales costs. The cost of purchased oil and petroleum products in 2023 and 2022 amounted to 306.4 billion rubles and 135.2 billion rubles, respectively. Transportation costs in 2023 amounted to 71.9 billion rubles, which is 35.9% more than in 2022.[3]
2022: Revenue growth by 18.1% to RUB 1.43 trillion
TATNEFT's revenue for 2022 rose by 18.4% compared to 2021 and reached 1.43 trillion rubles. The company's net profit increased by 43.4%, to 284.57 billion rubles. Such data were published in mid-March 2023.
According to TATNEFT's reports, the company's revenue from oil sales in 2022 increased by 8.7% compared to the previous year and amounted to 950 billion rubles, from the sale of petroleum products - by 38%, to 823 billion rubles. The company attributes this to an increase in sales volumes and prices for petroleum products.
It is noted that in 2022 the group recognized an impairment loss on property, plant and equipment and other non-financial assets in the amount of 30.23 billion rubles. In particular, we are talking about a loss from assets related to discontinued activities (Kama Tyres tire business sold to Tatneftekhiminvest-Holding) - 175 million rubles, with the development of extra-viscous oil fields - 13.64 billion rubles, the development of oil and gas fields outside the Republic of Tatarstan - 4.68 billion rubles, as well as from other assets totaling 2.69 billion rubles.
Oil production by TATNEFT Group in 2022 increased by 4.6% compared to 2021 - to 29.11 million tons. Average daily production amounted to 568 thousand barrels per day, compared with 543 thousand in 2021. Gas production increased by 5.6%, to 935 million cubic meters. m. The production of gas products decreased by 1.4%, to 1.04 million tons.
Revenue from the sale of oil to non-CIS countries in 2022 increased by 30%, to 337.6 billion rubles, revenue from the sale of oil to neighboring countries amounted to 0 rubles against 9.3 billion rubles a year earlier. Revenue from the sale of petroleum products to non-CIS countries jumped by 40%, to 302.3 billion rubles, to non-CIS countries - by 24%, to 16.8 billion rubles.
2021: Revenue growth by 59% to RUB 1.27 trillion
At the end of 2021, TATNEFT gained 1.27 trillion rubles (according to IFRS), which is 59% more than a year earlier. The company's net profit increased by 92% during this time and reached 198.41 billion rubles. Such data were published by the Russian oil and gas producer in mid-March 2022.
In 2021, TATNEFT produced 27.8 million tons (198.2 million barrels) of oil and 885 million cubic meters of gas, compared to 26 million tons (185.3 million barrels) of oil and 831 million cubic meters of gas in 2020. In 2021, the Taneko complex produced 12.2 million tons of petroleum products against 11.3 million tons a year earlier.
The Group exported approximately 45% of all crude oil sold, of which about 90% was transported through the Druzhba pipeline mainly to Poland and Slovakia, the rest through the Russian ports of the Black and Baltic Seas.
In general, oil supplies to non-CIS countries in 2021 decreased by 15% - to 7.3 million tons, the CIS countries - three times, to 330 thousand tons, sales in the domestic market increased by 30% - to 9.5 million tons.
Revenue from oil exports to non-CIS countries increased 1.5 times - to 259.5 billion rubles, the CIS countries decreased by 42%, to 9.4 billion rubles, revenues from sales in the domestic market increased 2.4 times, to 287.7 billion rubles.
The company's long-term liabilities amounted to 38.9 billion rubles at the end of 2021, which is almost half as much as a year earlier. At the same time, short-term increased to 250.26 billion rubles.
The total value of consolidated assets increased from 1.26 trillion rubles ($17.1 billion; the equivalent in American currency is indicated in the company's statements) as of December 31, 2020 to 1.5 trillion rubles ($20.22 billion) a year later. The total amount of consolidated liabilities increased from 431.85 billion rubles ($5.85 billion) to 558.91 billion rubles ($7.52 billion).[4]
2020: Among the ten most profitable companies in Russia
2019: Among the most profitable shares among oil companies in Russia in 12 years
2025: The manufacturer of plastic packaging "Petrus" came under the management of TATNEFT
Safpat Asset, a subsidiary of TATNEFT, received the temporary management of the plastic packaging manufacturer Petrus JSC. The corresponding decree was signed on July 9, 2025 by Russian President Vladimir Putin. Read more here.
2024
Joint launch with Chinese partners of projects in the field of oil and gas chemistry and oil refining for $4.5 billion
On November 14, 2024, it became known that PJSC TATNEFT, together with China, is implementing promising projects totaling $4.5 billion. We are talking about research and development in the fields of oil and gas chemistry, oil refining, etc.
According to Nail Maganov, General Director of TATNEFT, the company is negotiating with Chinese partners to expand cooperation. According to him, interaction is possible in almost every area of activity. At the same time, TATNEFT, as stated, is always open for mutually beneficial cooperation.
 | Together with our Chinese comrades, we are implementing several oil and gas projects. We are implementing projects in oil refining. Today [as of mid-November 2024], our project portfolio is somewhere around $4.5 billion. And we are in further negotiations on the growth of these projects, says Maganov. |  |
Earlier it was reported that TATNEFT is exploring the possibility of forming a division in China. In particular, it is said about the creation of a branch of PJSC TATNEFT named after V.D. Shashin in the PRC. In addition, in February 2023 TATNEFT considered the opening of a representative office in Turkey, where the Russian company acquired the fuel company Aytemiz Akaryakit.[5]
Purchase of 50% of the Kazakh oil company Karaton for 1.6 billion rubles
In August 2024, it became known that the Russian company TATNEFT acquired a 50% stake in the Kazakh oil company Karaton Operating for ₽1,6 billion. This deal was the result of an agreement between Tatneft and the Kazakh national holding KazMunayGas, as a result of which the Kazakh side lost control of Karaton. Read more here
2023
The Government of Ukraine handed over to Ukrnafta 3 companies belonging to Tatneft
The Government of Ukraine transferred to Ukrnafta 3 companies belonging to TATNEFT: Poltava-Capital LLC, Kharkov-Capital LLC and Tatneft-AZS-Ukraine. This was reported on August 15, 2023 by the TASS agency with reference to the deputy of the Ukrainian parliament Alexei Goncharenko (included in the list of terrorists and extremists of Rosfinmonitoring). Read more here.
TATNEFT bought Turkish fuel company Aytemiz Akaryakit for $160 million
On April 4, 2023, the Turkish holding Dogan announced the approval of an agreement to sell a 50% stake in the fuel corporation Aytemiz Fuel Distribution Inc. (Aytemiz Akaryakit) of the Russian oil company PJSC TATNEFT. Read more here.
TATNEFT bought Russian business Nokian Tyres for 285 million euros
TATNEFT bought the Russian business Nokian Tyres at a price of 125 million euros lower than previously announced. This became known on March 16, 2023. Read more here.
2022
Purchase of the First Rubber Plant
On December 2, 2022, TATNEFT and Uzkimyosanoat signed an agreement on the sale of a 100% tire plant. The Russian oil company bought from Uzbekistan "Birinchi Rubber Plant" (First Rubber Plant) and received 100% control over the enterprise. The cost of the agreement has not been announced. Read more here.
Seizure of assets in Ukraine
On May 31, 2022, the State Bureau of Investigation of Ukraine announced the arrest of 115 objects and corporate rights of the Russian Tatneft. The decision was made against the background of the ongoing special operation of the RF Armed Forces.
Selling the Tire Business
In mid-May 2022, TATNEFT announced the sale of tire business in Russia. The assets were bought by Tatneftekhiminfest Holding (acting as a coordination and expert center that determines the strategy for the development of the oil and gas chemical complex of Tatarstan), which is not part of the Tatneft group. Read more here.
2021: Purchase of the largest manufacturer of plastic containers in Russia "Ecopet" for 6.45 billion rubles
On June 8, 2021, TATNEFT announced the acquisition of the largest manufacturer of plastic containers in Russia, Ecopet. The transaction cost amounted to 6.45 billion rubles. Read more here.
2019: Launch of an accelerator for chemical and biotechnical business projects
On December 9, 2019 TATNEFT launched an accelerator for chemical and biotech startups. This is a joint project with Pulsar Venture Capital. Read more here.
2017
Oil production 28.9 million tons (+ 0.9 %)
For the period January-December 2017, oil production in Russia:
- Rosneft - 210.8 million tons (-0.3%),
- Lukoil - 82.2 million tons (-1.6%),
- Surgutneftegas - 60.5 million tons (-2.1%),
- Gazprom Neft - 59.9 million tons (+ 3.8%),
- TATNEFT - 28.9 million tons (+ 0.9%),
- Novatek - 11.8 million tons (-5.5%),
- Bashneft - 10.4 million tons (-3.4%),
- Russneft - 7.0 million tons (+ 0.2%),
- Neftegazholding - 2.1 million tons (-7.5%).
Gas production: 0.9 bcm (-3.7%)
Gas production in Russia in 2017 amounted to 690.5 billion cubic meters. m (+ 7.9% vs 2016).
Production indicators of companies in 2017:
- Gazprom - 472.0 billion cubic meters. m (+ 12.4%) or 68.4% of total production in Russia.
- Rosneft - 47.5 billion cubic meters. m (+ 1.8%),
- Novatek - 45.5 billion cubic meters. m (-9.1%),
- Lukoil - 21.1 billion cubic meters. m (+ 14.9%),
- Gazprom Neft - 15.3 billion cubic meters. m (+ 13.4%),
- Surgutneftegas - 10.0 billion cubic meters. m (+ 2.0%),
- Russneft - 2.4 billion cubic meters. m (-1.1%),
- Neftegazholding - 1.4 billion cubic meters. m (+ 0.4%),
- TATNEFT - 0.9 billion cubic meters. m (-3.7%)[6].
2015: Growth in oil production by 2.7% to 26.9 million tons
In 2015 TATNEFT increased oil production by 2.7% in annual terms to 26.9 million tons.
Associated gas collection increased by 15.9 million cubic meters. m and amounted to 899.5 million cubic meters. m (+ 1.8%).
New drilling in 2015 amounted to 915.7 thousand meters (21.5 thousand meters more than the plan), of which production drilling - 3.5 thousand meters, exploratory - 3.2 thousand meters.
The strategic goal of the company is to increase the annual volume of oil production to 30 million tons.
According to the annual report of the company for 2012, the average headcount of the parent company of TATNEFT amounted to 21.1 thousand people, and the total headcount of the group - 77.0 thousand people.
Notes
- ↑ TATNEFT in 2024 increased profit under IFRS by 6.3%
- ↑ TATNEFT reduced oil production in annual terms
- ↑ Management's Discussion and Analysis of Results of Operations (Consolidated Financial Statements under IFRS 2023)
- ↑ PJSC TATNEFT published its audited consolidated financial statements under IFRS for 2021
- ↑ The portfolio of TATNEFT projects with Chinese partners is about $4.5 billion
- ↑ Industrial health monitoring based on IPEM indices
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