Save for later Print Download Share LinkedIn Twitter Tatneft has shelved for the time being a proposal for a share buyback program, which it once saw as an option to boost the company's value for shareholders. The regional Russian producer is focusing instead on its updated long-term strategy, which envisages upstream and downstream expansion and subsequent growth in capitalization at the same time as taking into account the global energy transition and the company's plans to become carbon-neutral by 2050. Tatneft last year said it was considering different options, including share buybacks and the conversion of preferred shares into ordinary shares, to help meet targets set in a long-term strategy presented in 2018. The aim had been to boost market capitalization to over $36 billion by 2030 compared to $24 billion in 2018. But that was before the pandemic shifted the focus to the energy transition and questions over peak demand (NC Nov.12'20).
