Taking Tatarstan’s petrochemical resources into the future
At the centre of the economic policy of the government of Tatarstan is the intention to get the maximum possible value from the Republic’s remaining oil reserves, which means developing and building the most advanced petrochemical refining facilities within Tatarstan itself. The Republic is now supporting several such projects worth over $7 billion in investment.
Rafinat Yarullin is general director of the state holding company Tatneftekhiminvest, and a recognized expert on petrochemicals. He says: "Let’s say you get one dollar for a certain amount of crude oil. If you take that oil and compress it, refine it, separate and sell all the different petrochemical products like benzine, bitumen, diesel, propane and other substances, then you can make 10 or 20 times that amount. That’s the government’s strategy."
Tatarstan is well placed to develop such a strategy.