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Tatneft posts almost 5% rise in 2022 output to over 29 mln tons

Tatneft is one of ten largest Russian companies in terms of oil production volumes

MOSCOW, March 20. /TASS/. Crude production of Tatneft Group rose by 4.7% in 2022 to 29.1 mln tons, according to files to the company’s report.

Average daily oil production amounted to 568,000 barrels. Oil product output soared by almost 29% to 15.99 mln tons.

Gas production added 5.6% to 935 mln cubic meters, while gas product output slipped by 1.4% to 1.04 mln tons.

Revenue from oil sales fell by 4.2% last year to 533 bln rubles ($6.8 bln) due to a decrease in sales volume, the oil producer said. Revenue from sales of petroleum products gained 39.6% to 792.2 bln rubles ($10.2 bln) due to an increase in sales volume and in prices for oil products.

Tatneft is one of ten largest Russian companies in terms of oil production volumes. The main shareholder of Tatneft is the Republic of Tatarstan, which owns over 34% of the company's ordinary shares. About 3% are treasury shares, 23% are placed in ADR. Other shareholders own 40% of shares.

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