Tatneft Profits Fall Fivefold

摘要

Russian producer Tatneft saw net profits drop fivefold in 2008 to 8.4 billion rubles (US$256 million) from 43.3 billion rubles in 2007, disappointing investors. Earnings before taxes and minority interests showed a threefold decrease to 18.15 billion rubles ($US563 million). Results were calculated under US Generally Acceptable Accounting Principles (GAAP).