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OAOFY Pjsc Tatneft (CE)

9.55
0.00 (0.00%)
24 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Pjsc Tatneft (CE) USOTC:OAOFY OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 9.55 0.00 01:00:00

Tatneft 2020 Profit Fell 46% on Lower Prices, OPEC+ Quotas

31/03/2021 10:09am

Dow Jones News


Pjsc Tatneft (CE) (USOTC:OAOFY)
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By Jaime Llinares Taboada

 

Tatneft PJSC on Wednesday reported that its profit almost halved in 2020, reflecting weaker oil and gas prices and OPEC+ production restrictions.

The Russian oil major made a net profit of 103.49 billion rubles ($1.36 billion) last year, down from RUB192.26 billion in 2019.

Revenue declined 23% to RUB720.7 billion.

"The group's operations in 2020 were significantly affected by the economic impact of the Covid-19 pandemic, changes in oil and petroleum product prices, and the implementation of unprecedented production restrictions under the OPEC+ agreement," Tatneft said.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

March 31, 2021 04:54 ET (08:54 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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