Tatneft and Slovnaft sign cooperation agreement

The signed document identified possible areas for development, namely joint projects involving 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 this year.

Slovnaft is a crude oil refining enterprise located in Bratislava, Slovakia. It has a maximum crude oil refining capacity of 6 million tpy, which is primarily supplied via the Druzhba pipeline. The dominating place in the production portfolio belongs to motor fuel (about 4.5 million tpy), chemicals (200 000 tpy) and primary plastic materials (400 000 tpy).

Slovnaft is one of the most technologically equipped oil refiners 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. The 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. The company operates 253 filling stations in Slovakia under the company’s 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 and there are more than 3400 employees on the company’s payroll.

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/05072019/tatneft-and-slovnaft-sign-cooperation-agreement/