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Tuesday, 02 December, 2008, 21:20 GMT | more >>

Tatneft predicts 2% revenue increase



By Upstream staff 

Russian oil company Tatneft expects its revenues under Russian accounting standards to increase by 2% year-on-year in 2006 to 173 billion roubles ($6.52 billion), the company said today.

Tatneft said its pre-tax profit was likely to stay flat in 2006 at 50 billion roubles ($1.89 billion).

The company did not give the forecast for its net profit, which amounted to 36.5 billion roubles ($1.38 billion) in 2005.

It did not say why its sales and pre-tax profits would stay largely flat in 2006, despite much higher global oil prices and bigger profits across the Russian industry.

Tatneft, which produces mostly high-sulphur crude in Russia's Volga region of Tatarstan, said its oil output increased by 0.2% to 25.4 million tonnes last year.


Tuesday, 23 January, 2007, 15:48 GMT  | last updated: Tuesday, 23 January, 2007, 15:48 GMT

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