Bloomberg News

Russia’s Tatneft to Open Diesel Unit at Taneco Refinery in 2013

April 17, 2012

OAO Tatneft (TATN), the builder of Russia’s only refinery since the collapse of the Soviet Union, plans to open a diesel-making unit at the plant next year.

The hydrocracker at the Taneco facility will start operating in the second quarter of 2013, according to Vasily Mozgovoy, an assistant to the general director.

The company expects to invest as much as $1 billion this year in the refinery, Mozgovoy said on a conference call with investors. Taneco started operating in 2011.

Taneco will have a capacity of 7 million metric tons a year, or 141,000 barrels a day, when fully operational and currently produces mostly fuel oil, Mozgovoy said. Hydrocrackers produce distillate fuels, a category that includes diesel and heating oil.

To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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