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Net profit of Tatneft grew in the first quarter of 2020 fell 2.5 times compared to the same period last year and made up 20.22 billion rubles, follows from the report of the company.
Revenues decreased by 6% and amounted to 192.2 billion. Gross profit reached 42,97 billion, a decrease of 48% in annual terms.
Tatneft is engaged in the exploration, development and production of crude oil. It accounts for over 80% of the oil produced in Tatarstan. The main shareholder of Tatneft is the state holding Svyazinvestneftekhim owns 27,23% stake in the company. Tatarstan belongs to the "Golden share".
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