Tatneft
| Tatneft OAO
|
|
|---|---|
 |
|
| legal form | Open joint-stock company |
| ISIN | RU0009033591 |
| founding | 2000 |
| Seat |
Almetyevsk , Republic of Tatarstan ,
|
| Branch | oil and gas |
| Website | www.tatneft.ru |
Tatneft ( ОАО «Татнефть» ) is a mineral oil company from Russia with headquarters in Almetyevsk . The company is listed in the RTS index on the Russian Trading System . Tatneft share certificates are traded on both the New York Stock Exchange and the London Stock Exchange. Tatneft is one of the largest oil and gas producers in Russia.
Company history
In 1950 Tatneft Amalgamation was established by a resolution of the Soviet government. In January 1994 Tatneft Production Amalgamation was reorganized into a partially privatized company. In the course of partial privatization, 41.34% of the company shares were transferred to employees and executives, 40% of the company shares remained with the Republic of Tatarstan and the rest was given to investment companies and similar companies. Tatneft was one of the pioneers in issuing American Depositary Receipts (ADR) in the Russian oil sector. ADR are stock certificates issued by major US banks for non-US stocks on deposit with them. From 1996 these ADRs were traded by Tatneft on the London Stock Exchange and from 1998 also on the New York Stock Exchange .
On August 23, 1999, OAO Tatneft shares and preferred shares began trading on the Moscow Interbank Currency Exchange MICEX .