Commodity

PJSC Tatneft : TATNEFT Is Among the Leaders of the Exchange Commodity Market

The Company has been awarded the prize of the VIth Annual International Forum SPIMEX “Exchange Commodity Market” in the nomination “Development Leader in the of market mechanisms for the sale of peroleum products for export.”

The organizer of the forum is the St. Petersburg International Commodity and Raw Materials Exchange, which unites more than 2,400 trading companies.

The SPIMEX International Forum has acquired the status of an open platform for discussing the most pressing issues of the exchange commodity market over the past years, and has become a leading inter-industry platform for communication between regulators and trading participants.

TATNEFT has been selling petroleum products through the SPIMEX electronic platform since December 2019. The project aimed at bringing the trading in oil and petroleum products to the electronic platform has been initiated by the Company as part of a set of measures proposed by the President of the Russian Federation V.V. Putin for the purpose of improving exchange mechanisms and forming independent national price indicators for the main types of fuel and energy products using the experience of the SPIMEX platform as an example.

Staring September 2020, all procedures have been carried out using the online electronic auction mechanism. Currently, the Company has expanded the available products range and is using online auctions to plan long-term sales.

Disclaimer

OAO Tatneft published this content on 06 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 December 2021 15:11:02 UTC.


Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button