Bloomberg News

Tatneft Snaps Four-Day Losing Streak as 2011 Profit Advances

April 16, 2012

OAO Tatneft (TATN) climbed for the first time in five days after the regional Russian oil producer posted 2011 net income growth of 32 percent as crude prices rose.

The shares added 0.2 percent to 183.29 rubles as of 3:42 p.m. in Moscow, their first advance since April 9. The benchmark Micex Index traded down 0.3 percent.

Tatneft’s profit climbed to 61.4 billion rubles ($2.1 billion) from 46.7 billion rubles in 2010, according to a statement published on the company’s website today. Revenue grew to 615.9 billion rubles last year from 468 billion rubles.

To contact the reporter on this story: Alex Nicholson in Moscow at anicholson6@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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