Rosbank provides credit line and guarantees of US$100 mln to oil major Tatneft and its petrochem subsidiary

13-Sep-12

Rosbank has provided a credit line and guarantees totaling US$100 mln to Russian oil major Tatneft and its petrochemical subsidiary Taneco, as per Ros Business Consulting. The proceeds will go towards boosting working capital and paying excise tax. No parameters of the credit line were disclosed. Tatneft is a leading oil producer in Russia, accounting for about 8% of the country's total oil output and over 80% of oil output in the Republic of Tatarstan.