08 February 2016, 16:23 / Business

Tatarstan is selling off oil assets

The Republic could receive from 28 to 52 billion rubles from the sale of shares in Tatneft, Nizhnekamskneftekhim and Taneko Alina Fadeeva In "Tatneft" the Republic of Tatarstan owns 30.44% through "Svyazinvestneftekhim", it follows from the data of SPARK /M. Stulov / Vedomosti

Tatarstan is ready to sell shares in Nizhnekamskneftekhim, Tatneft and the Taneco oil refining complex, follows from the forecast privatization plan of the government of the republic for 2016. Investors will be able to buy up to 22.088% of Nizhnekamskneftekhim, 4.3% of Tatneft, as well as 9% "TANECO". On the Moscow Exchange, Nizhnekamskneftekhim and Tatneft are now worth approximately 83.4 billion rubles. and 738 billion rubles. For a share in Nizhnekamskneftekhim, the republic can receive 19.6 billion if it sells only ordinary shares, and 9.7 billion if it sells only preferred shares. For a share in Tatneft - from 32.6 billion rubles to 18.3 billion rubles. The total income will thus be from 28 billion rubles. up to 52 billion rubles

The representative of the republic has not yet answered Vedomosti’s questions.

Nizhnekamskneftekhim is one of the largest players in the global synthetic rubber market and is part of the TAIF group. The group owns 15.2% of the company's authorized capital through Telecom Management LLC (TM), the company's quarterly report states. 78.6% of shares are nominally owned. According to SPARK, TAIF, through TM, owns 50% of Nizhnekamskneftekhim, the Republic of Tatarstan, through Svyazinvestneftekhim, owns 25.2% of the company. Thus, after the sale of 22.1% of the shares, the government will remain a shareholder of the company. A TAIF representative has not yet answered Vedomosti’s question whether the company will participate in privatization.

For three quarters of 2015, Nizhnekamskneftekhim’s revenue amounted to 110 billion rubles, net profit - 18.8 billion rubles. The company produces more than a hundred types of products, including rubbers (mainly exported), as well as plastics (mainly sold in Russia). Nizhnekamskneftekhim exports almost half of its products, 65% of sales come from Europe. The company also supplies rubber to the CIS, North America, Asia, South America, Africa and other countries. Until 2020, the company plans to increase sales by approximately 4% per year on the global rubber market and by 5.5% on the plastics market in Russia.

In Tatneft, the Republic of Tatarstan, through the same Svyazinvestneftekhim, owns 30.44%, as follows from SPARK data. This means that after privatization the government will retain a blocking stake in the company (26.1%). Another 59.6% of shares are nominally owned. Tatneft is one of the largest vertically integrated oil companies, fifth in production in Russia. In 2015, Tatneft increased production faster than anyone in the industry - by 2.3% to 27 million tons. For nine months, the company's revenue amounted to 349 billion rubles, net profit - 69.7 billion rubles. The company's depositary receipts are traded on the London Stock Exchange.

Tatneft owns 91% of Taneko, another 9% belongs to the republican Svyazinvestneftekhim. Taneco is an oil refining complex that processed 8.6 million tons of crude oil in 2015. The refining depth was 73.2%, the output of light petroleum products was more than 70%. Among other popular products, 1.4 million tons of Euro-5 diesel fuel were shipped to consumers.

Around 16.05 Moscow time, ordinary shares of Nizhnekamskneftekhim on the stock exchange grew by 2.4% to 47.5 rubles, preferred shares - by 0.4% to 23.5 rubles. Ordinary and preferred shares of Tatneft, on the contrary, fell: by 1.7% to 329.8 rubles. and 186 rub. respectively.