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Tatneft To Increase Oil Revenues

Russian oil company Tatneft said it expected to increase its oil revenues

Tatneft To Increase Oil Revenues

Oil company Tatneft said it expected to increase its oil revenues 43.8 percent to 138 billion rubles ($4.8 billion) in 2005.

Tatneft?s net oil revenues in 2004 grew 37.5 percent on the year to 96 billion rubles ($3.6 billion). Exports accounted for 80.4 percent of revenue, and the remainder was generated on the domestic market.

Tatneft's oil output from January through May was up 1.88 percent on the year to 10.59 million tons. In 2004, Tatneft's oil output was up 1.75 percent on the year to 25.099 million tons.

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