Tatneft 3Q Revenue Doubles From Prior Quarter
By Jaime Llinares Taboada
Tatneft PJSC on Monday posted an improved revenue for the third quarter of the 12 months in contrast with the second quarter.
The Russian power firm made a web revenue of 35.74 billion rubles ($469.eight million) within the three months ended Sept. 30, up from RUB17.60 billion in April-June.
The advance was partially pushed by increased manufacturing, with crude oil up 5.2% at 44.eight million barrels and pure gasoline output rising 2.5% to 198.three million cubic meters within the interval. Nevertheless, refinery output declined round 7% on the quarter.
Regardless of the quarter-on-quarter enchancment, Tatneft’s revenue for the primary 9 months of the 12 months was RUB78.60 billion, down from RUB172.72 billion in January-September 2019.
Shares at 0900 GMT have been down 1.6% at RUB503.1.
Write to Jaime Llinares Taboada at email@example.com; @JaimeLlinaresT
(END) Dow Jones Newswires
November 30, 2020 04:34 ET (09:34 GMT)
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Dow Jones – Tatneft 3Q Revenue Doubles From Prior Quarter