Russia: Tatneft Records 41% Net Profit Increase
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Wednesday, 13 August 2008 |
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Tatneft, Russia's sixth-largest oil company, posted a 41.6%
year-on-year increase in its net profit calculated to Russian
Accounting Standards to 29.55 billion rubles ($1.2 billion) in
January-June 2008.
Tatneft, which accounts for 80% of oil output in Russia's Volga Republic of Tatarstan, said its revenues in the reporting period grew 53.4% to 136.04 billion rubles ($5.6 billion), gross profit climbed 60% to 58.15 billion rubles ($2.4 billion), operating profit went up 70% to 52.07 billion rubles ($2.1 billion) and pre-tax profit increased 39.4% to 38.93 billion rubles ($1.59 billion).
Last year Tatneft produced 25.7 million metric tons (189 million bbl) of oil, up 1.3% against 2006.
PetrolWorld 120808
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