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Tatneft covered credit.

June 24 Tatneft covered the $550mln worth credit raised in 2011 from the International Club of Banks, the company informed.

The credit was covered out of own funds to cut down the debt burden to the bottom which permits the Company to consider different investment programs.

Tatneft (TIN 1644003838) is ranked as the sixth in the list of the oil producers by the output in Russia. It has 870mln ton in proved reserves. In 2013 26.107mln ton of the crude were gushed out (0.4% in rise).

The 2013 net profit declined 4% (IAS) to 70.832bn rub. from 73.473bn rub.; revenues moved up 2.4% to 454.983bn rub. from 444.099bn rub.; pretax profit being down 0.5% to 101.3bn rub.

The IQ 2014 net profit added 34% (RAS) to come to 24.363bn rub. from 18.129bn rub.; revenues moved up 5.6% to 98.989bn rub. from 87.554bn rub.; gross profit - to 36.793bn rub. from 34.318bn rub.

The IQ 2014 net profit (IAS) rallied up 44% to 24.391bn rub. from 16.974bn rub. prior year; consolidated revenues from sales but for export duties gained 116.74bn rub. vs. 106.554bn rub.; total value of consolidated assets moved up from 674.089bn rub. from 714.221bn rub.; total obligations moved up to 184.533bn rub. from 170.107bn rub.

"AK&M", 09:57, 25.06.2014 1251 AKM,COR


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