Tatneft to double TANEKO's refining capacity in 2017

MOSCOW (Reuters) — Russian mid-sized oil producer Tatneft plans to double the capacity of its TANEKO oil refinery to 14 MMt this year, TANEKO General Director Leonid Alekhin told Reuters.

TANEKO, located in Russia's republic of Tatarstan in the Volga-Urals region, plans to launch its second crude oil distillation unit in the coming months, allowing it to boost the capacity, but actual refining volumes will be smaller, he added.

Next year, TANEKO will start to produce gasoline, with the output seen at 1 MMt, and plans to double its diesel output to 3 MMt, Tatneft documents and Reuters calculations showed.

In total, Tatneft plans to invest around $3.4 B in TANEKO's upgrade in 2017–2025 and is also considering plans to build the third production line at the refinery at some point, according to Alekhin and the company's documents.

Reporting by Maxim Nazarov and Olesya Astakhova; writing by Katya Golubkova; editing byv Dmitry Solovyov

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