MOSCOW, October 30 (RIA Novosti) - Tatneft, Russia's sixth-largest oil producer, posted Tuesday a 7.9% drop in US GAAP net profit year-on-year to 16.5 billion rubles ($668 million) in the first half of 2007.
The company's sales declined by 2.3% year-on-year to 157 billion rubles ($6.4 billion) in the reporting period.
Tatneft also said its pretax profit dropped 5% in January-June to 24.7 billion rubles ($1 billion) against the same period last year.
The company's EBITDA index fell 7.7% to 29 billion rubles ($1.2 billion) in the reporting period, against a 5.4% increase in the same period last year.
Tatneft and its subsidiaries handle upstream and downstream operations and account for over 80% of oil output in the Russian Volga Republic of Tatarstan.
