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Monday, 08 September, 2008, 17:50 GMT | more prices >>

Tatneft raises glass to profits



By Upstream staff 

Russian oil company Tatneft said today its 2006 net profit rose 15.3% to $1.13 billion from $981 million a year earlier.

The company said in a statement its consolidated revenues for the period were $12.09 billion, up 15.8% from $10.44 billion in 2005.

The results were prepared to US Generally Accepted Accounting Principles, Reuters reported.

Mid-sized player Tatneft, which produces mostly high-sulphur crude in Russia's Volga region of Tatarstan, said its proved oil reserves were estimated at 5.91 billion barrels as of 1 January 2007.

Total proved reserves of natural gas were estimated at 1.30 trillion cubic feet, the company said. The reserves audit was carried out by Miller and Lents.


Friday, 29 June, 2007, 16:40 GMT  | last updated: Friday, 29 June, 2007, 16:40 GMT

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