Russia’s Tatneft sees 367 bln rbl upstream capex in 2016–2025

MOSCOW, Aug 4 (PRIME) – Upstream capital expenditures of Russian oil company Tatneft will amount to 366.7 billion rubles and downstream capex is expected at 232 billion rubles in 2016–2025, it said in a presentation published Thursday.

Tatneft also forecasts its capitalization to grow to U.S. $21.5 billion in 2025 from $10.8 billion in 2015.

The company said the share of oil production facilities and units in Tatneft’s structure amounts to 80%, while the share of oil refining affiliates stands at 17%. Tatneft plans to cut the share of producers to 62% and to raise the share of oil refining affiliates to rise to 28% by 2025.

Tatneft also forecasts its capital expenditures in retail business at 39.2 billion rubles in 2016–2025 and capital expenditures in the production of tires is seen at 24.2 billion rubles.

(66.7420 rubles – U.S. $1)

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