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Tatneft, Slovnaft sign downstream cooperation agreement

July 11/2019

MOSCOW (MRC) -- PJSC TATNEFT and Slovnaft announced they have signed a cooperation agreement for the development of joint projects in the downstream sector, said the company.

The agreement document identified possible areas for the development of joint projects aimed at the production of biocomponents for motor fuels, modified road 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.

Slovnaft is a crude oil refining enterprise located in Bratislava, Slovakia. The maximum annual refining capacity is 6 million tons of crude oil, which is primarily supplied via the Druzhba pipeline. The dominating place in the production portfolio belongs to motor fuel (about 4.5 million tons/year), chemicals (200 thousand tons/year) and primary plastic materials (400 thousand tons/year).

Slovnaft is one of the most technologically equipped oil refineries in Europe. One third part of the motor fuel produced is sold in Slovakia, and two thirds are exported mainly to the Czech Republic, Austria, Poland and Germany. Plastic materials are sold throughout Europe. The Slovnaft share of the wholesale motor fuels market in Slovakia accounts for more than 60%, while it is about 20% in the Czech Republic and Austria. Slovnaft operates 253 filling stations in Slovakia under the companys own brand, while the total share in the retail market for the sale of petroleum products is about 35%. In addition to operating the oil refining and petrochemical production complex in Bratislava, the company is running the wholesale business in CEE, retail activities in Slovakia and Slovnaft also owns and operates the product pipeline and several trading terminals in Slovakia. The annual turnover of Slovnaft amounts to about 3-4 billion Euros. There are more than 3,400 employees on the companys payroll.

As MRC informed earlier, Tatneft plans to invest around USD3.4 B in TANEKO's upgrade in 20172025 and is also considering plans to build the third production line at the refinery at some point, according to Alekhin and the company's documents.
Author:Anna Larionova
Tags:petroleum products, petrochemistry, Crude oil, Tatneft.
Category:General News
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