Tatneft, Slovnaft sign downstream cooperation agreement

Tatneft, Slovnaft sign downstream cooperation agreement
Published: 8 July 2019 - 8 a.m.
By: Martin Menachery
Chairman of the board of directors and CEO of Slovnaft Oszkár Világi and CEO of Tatneft Nail Maganov signed a memorandum of cooperation during the Slovak business mission in Kazan (Tatar Republic of Russian Federation).

The signed document specifies the areas of possible joint projects – the production of biocomponents for motor fuels, modified bitumen and lubricants. The areas of partnership in the downstream sector have been determined during the meeting of the Tatneft management with representatives of the MOL Group (which includes Slovnaft) at the site of the Taneco Refinery and Petrochemical Plants Complex in January of the current year.

The signing of the memorandum took place on the occasion of the meeting of the president of the National Council of the Slovak Republic Andrej Danko with the president of the Republic of Tatar Rustam Minnichanov, who is also the chairman of the board of sirectors of Tatneft.

"Tatneft is a leading oil company in Russia. Cooperation with Slovnaft in the framework of the signed agreement has a number of directions, but we also have worked together in the past. This agreement, however, has given an official status to our cooperation and we welcome it," said Minnichanov.

“The concrete result of the meeting is also a pilot project of our unique product – rubber bitumen. In the next few weeks, the selected section of the road in Kazan will be put on the rubber bitumen test and the partners can test it in reality. It is an innovative product that has been developed at MOL Group level. Rubber bitumen reduces road maintenance costs, increases road life and has an ecological dimension as it uses worn tires,” said Világi.

Tatneft is the sixth largest oil and gas company in the Russian Federation with activities on domestic and foreign markets. Its activities include exploration and production of hydrocarbons, crude oil processing, tire production, operating its own network of over 600 fuel stations, petrochemicals and banking services. One of the most significant projects of the company is currently the construction of the refinery and petrochemical complex in Nizhnekamsk with state-of-the-art oil processing technologies.

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