Tatneft

Tatneft ( ОАО " Татнефть " ) is an oil company from Russia with headquarters in Almetyevsk. The company is listed in the RTS index system on the Russian Trading. Share certificates of Taftnet are traded on both the New York Stock Exchange and the London Stock Exchange. Tatneft is one of the largest oil and gas producer in Russia. The market capitalization in 2007 was 11.7 billion U.S. dollars as of 12 March.

History

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 officers, 40 % of the company's shares remained in the Republic of Tatarstan and the rest was spent on investment companies and similar businesses. Tatneft was one of the pioneers in the issuance of American Depositary Receipt ( ADR) in the Russian oil sector. ADR share certificates, issue the major U.S. banks deposited with them non-US equities. As of 1996, these ADRs were traded by Tatneft on the London Stock Exchange and, from 1998 on the New York Stock Exchange.

On August 23, 1999, started the additional shares and preference shares of OAO Tatneft on the Moscow Interbank Currency Exchange MICEX to act.