Tatneft acquired shares of several companies in 2-3 quarters as part of the development of the oilfield services unit

AK&M 17 March 2023 19:13

Tatneft in 2-3 quarters of 2022, as part of the development of the oilfield services unit, acquired shares in Tatburneft Management Company LLC, Tatintek LLC, Tatspetstransport Management Company LLC, TagraS-Himservice LLC, Krsservice LLC, NKT-Service LLC, Mechservice-NPO LLC, TMS LLC-Logistics", as well as movable and immovable property, and gained control, becoming the sole participant of these companies. This is stated in the company's report.

The purchase price amounted to RUB 25.6 billion, the cash consideration was paid in full in 2-3 quarters.

PJSC Tatneft is one of the largest Russian vertically integrated oil companies, which dynamically develops oil and gas production, oil refining, petrochemistry, tire complex, gas station network, electric power industry, development and production of equipment for the oil and gas industry and a block of service structures. The total number of shareholders of the company as of May 29, 2022 exceeds 375 thousand .

Tatneft's profit for 2022 under IFRS increased by 43% to 284.9 billion rubles from 198.88 billion rubles a year earlier. Operating profit increased by 61.8% to RUB 400.39 billion from RUB 247.35 billion. Sales revenue (excluding financial services) increased by 18% to RUB 1.45 trillion from RUB 1.2 trillion.