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

Oil&Gas Materials 29 August 2022 11:18 (UTC +04:00)
Tatneft profit rises by 52% to $2.32 bln in 1H 2022

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, Trend reports with reference to Reuters.

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.

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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