Tatneft (; traded as: (ordinary shares), (preferred shares), (ADRs)) is a Russian vertically integrated oil and gas company with headquarters in the city of Almetyevsk, Republic of Tatarstan, Russian Federation. It is the fifth largest oil company in Russia and the eighth largest listed company in Russia by market capitalization (as of 31 December 2019). In the 2020 Forbes Global 2000, Tatneft was ranked as the 539th-largest public company in the world. Tatneft holds most of the exploration and production licenses and produces substantially all its crude oil in Tatarstan. Out of approximately 581.5 thousand barrels of oil produced daily 35.5% (206.7 thousand barrels per day) is refined at Tatneft's TANECO refinery (as of 31 December 2019). Tatneft is also involved in treatment and refining of associated petroleum gas, petrochemicals', mainly tires, production and marketing, manufacturing of equipment, engineering, procurement, and construction services for oil, gas and petrochemical projects and, from the fourth quarter of 2016 upon obtaining control over Bank ZENIT, in banking activities. History Tatneft was created by the Decree of the Council of Ministers of the USSR in April 1950 as a production association under the Ministry of Oil Industry of the USSR by uniting several drilling and derrick maintenance crews operating in Tatarstan. Upon its establishment Tatneft commenced the production from various crude oil fields in Tatarstan, most notably the Romashkino (Romashkinskoye) unique super-giant field discovered in 1948. By 1956 Tatneft became the largest crude oil producer in the USSR. In 1971 Tatneft extracted the 1st billionth tonne of crude oil. The annual crude oil production by Tatneft reached 104 million tonnes in 1975. In 2019 Tatneft's annual production was 29,798 thousand tonnes or 212,252 thousand barrels. In 1994, upon its privatization Tatneft was reorganized into an open joint stock company. In October 1995 Tatneft shares started to be quoted on the Russian Trading System (RTS) and became one of the first constituents of the RTS Index RTSI. In December 2016 Tatneft listed its American Depositary Receipts (ADRs) on the London Stock Exchange Tatneft also had its ADRs listed on the New York Stock Exchange (stock symbol TNT) between March 1998 and September 2006. In August 1999, Tatneft shares were listed on MICEX. Currently the Moscow Exchange (which was formed following the merger of MICEX and RTS in 2011) is the primary market for Tatneft's ordinary and preferred shares, and the London Stock Exchange for its