This is Tatneft's first quarterly US GAAP report. It earlier posted a US GAAP net profit of 16.5 billion rubles ($666 million) in the first half of 2007.
The company's revenues amounted to 258 billion rubles ($10 billion) and operation costs to 40.5 billion rubles ($1.6 billion) in the reporting period.
The company's EBITDA (earnings before interest, taxes, depreciation and amortization) reached 49 billion rubles ($2 billion).
Earlier reports said Tatneft produced 25.3 million metric tons (186 million bbl) of oil last year and a similar amount in 2005. According to plans approved by the Tatneft board, the company's annual oil output should reach 25.4 million metric tons (187 million bbl) in 2008-2010.
Tatneft reported a 5.4% increase in US GAAP net profit in 2006 to 29.7 billion rubles ($1.2 billion), year on year.
