The main activities of Tatneft are: gas and oil exploration and production gas and oil refining and marketing petrochemicals (including Nizhnekamskshin tire-making plant) banking services (through its subsidiaries Bank Zenit and Bank Devon-Credit)
As of 31 December 2007, Tatneft had total proved reserves of approximately 862 million tons of crude oil. It operated 77 oil fields, including the main field of the company - Romashkino, with total production capacity of 25 million tons of oil and 700 million tons of gas annually. Other main oil fields are Novo-Yelokhov and Bavly. In addition to Russia, it conducts exploration and production operations also in Libya, Angola, Syria, Iran, Vietnam, Oman and Saudi Arabia. In 2008, Tatneft's crude oil production was of 189 million barrels in 2008 and is expected to shrink by 1.5% to 186 million barrels in 2009.
As of 1 July 2010, Tatneft had 626 filling stations, of which 490 are located on the territory of the Russian Federation and 136 are located in Ukraine.
In September 2007, Tatneft formed a strategic partnership with Royal Dutch Shell to develop heavy crude oil (bitumen) production in Tatarstan. It considers similar partnership with Chevron.
Through its subsidiary TANEKO, Tatneft is constructing the Nizhnekamsk refinery and petrochemical complex, which it intends to commission in phases in 2009 and 2011-2012. The complex will include of refineries with the capacity of seven million tons per year, deep oil conversion plant of 3.5 million tons per year and petrochemical plant, which will produce linear alkyl benzene for production of washing materials and oil lubricants, paraxylene and terephthalic acid for production of polyester fibers (u1074), cellophane film and bottles, and polypropylene. The complex is expected to cost US$3–3.2 billion, of which $2 billion was invested in 2008, and $1–1.2 billion would be invested in 2009.