MOSCOW, January 16 (RIA Novosti) - Tatneft [RTS: TATN], Russia's sixth largest oil company, said on Wednesday its crude output had grown 1.3%, year-on-year, in 2007 to 25.7 million metric tons (188 million barrels).
Tatneft and its subsidiaries handle upstream and downstream operations and account for over 80% of oil output in the Russian Republic of Tatarstan in the Volga area.
Tatneft produced 25.3 million metric tons (186 million bbl) of oil last year and a similar amount in 2005.
Tatneft posted US GAAP net profits of 29.5 billion rubles ($1.2 billion) in the first nine months of 2007.
