RusEnergy

29 June 2007 - Upstream OnLine - Russian oil company Tatneft said today its 2006 net profit rose 15.3% to $1.13 billion from $981 million a year earlier. The company said in a statement its consolidated revenues for the period were $12.09 billion, up 15.8% from $10.44 billion in 2005. The results were prepared to US Generally Accepted Accounting Principles, Reuters reported. Mid-sized player Tatneft, which produces mostly high-sulphur crude in Russia's Volga region of Tatarstan, said its proved oil reserves were estimated at 5.91 billion barrels as of 1 January 2007. Total proved reserves of natural gas were estimated at 1.30 trillion cubic feet, the company said. The reserves audit was carried out by Miller and Lents.