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Tatneft profit rises by 52% to $2.32 bln in 1H 2022

It is reported that Tatneft is one of the ten largest Russian companies in terms of oil production

MOSCOW, August 29. /TASS/. Net profit of Tatneft attributable to shareholders, under IFRS increased by 52% in January-June 2022 and reached 139.88 bln rubles ($2.32 bln), according to the company's report.

Tatneft's revenue for the reporting period increased by 42% to 790.8 bln rubles ($13.1 bln). Pre-tax profit amounted to 196 bln rubles ($3.25 bln), which is 68% more than a year earlier.

At the same time, revenue from the sale of oil in the first half of the year increased by 43% to 570.7 bln rubles ($9.33 bln), from oil refining and the sale of oil products - by 63% to 445.99 bln rubles ($7.29 bln), the report said. Revenue from the sale of oil in non-CIS countries increased by 38% to 173.1 bln rubles, oil products to non-CIS countries - more than doubled year-on-tear and reached 205.4 bln rubles ($3.36 bln).

Operating profit increased 2.2-fold in the first half of the year and amounted to 254.3 bln rubles ($4.17 bln).

Tatneft did not publish its IFRS report for the first quarter of 2022.

Tatneft is one of the ten largest Russian companies in terms of oil production. The main shareholder of Tatneft is the Republic of Tatarstan, which owns more than 34% of the company's ordinary shares. Around 3% is accounted for by treasury shares, 23% is placed in ADR. Other shareholders own 40% of the shares.

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