Tatneft posts higher net profit for 2007

Tatneft's net profit under US GAAP grew 1.5 times to RUB 43.279bn (approx. USD 1.83bn) in 2007, the Russian oil company said in a statement according to RBC. Revenue rose 11.9 percent to RUB 356.276bn (approx. USD 15.08bn), and assets increased from RUB 319.424bn (approx. USD 13.5bn) as of December 31, 2006 to RUB 370.219bn (approx. USD 15.7bn) as of December 31, 2007. The company's liabilities climbed from RUB 84.547bn (approx. USD 3.58bn) to RUB 101.661bn (approx. USD 4.3bn), and total shareholders' equity went up from RUB 231.703bn (approx. USD 9.81bn) to RUB 264.059bn (approx. USD 11.18bn).