OREANDA-NEWS. October 04, 2012. Tatneft (the “Company”) announces that it published on its web-site (http://www.tatneft.ru/eng) the reviewed consolidated interim condensed financial statements for the 6 months ended June 30, 2012 prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) (the “Financial Statements”) and related Management Discussion and Analysis of Results of Operations (the “MD&A”) , reported the press-centre of TATNEFT.   

Selected financial highlights below are based on the respective U.S. GAAP financial statements of the Company. These highlights do not replace the Financial Statements or the MD&A and all interested persons are encouraged to read these documents for full understanding of the first 6 months 2012 U.S. GAAP results. Russian Ruble amounts below have been translated into U.S. Dollars, for revenue and net income at the average exchange rate during the respective reporting period, and for balance sheet items at the exchange rate on the last day of the respective reporting period.

The Company’s consolidated revenues in the first 6 months of 2012 were 294,244 million Rubles (USD 9,603 million) as compared to 293,990 million Rubles (USD 10,272 million) in the first 6 months of 2011. The consolidated net income attributable to Group shareholders in the first 6 months of 2012 was 32,875 million Rubles (USD 1,073 million) as compared to 39,467 million Rubles (USD 1,379 million) in the first 6 months of 2011.

Total consolidated assets of the Company increased from 627,823 million Rubles (USD 19,500 million) as of December 31, 2011, to 646,881 million Rubles (USD 19,712 million) as of June 30, 2012.

Total consolidated liabilities of the Company decreased from 224,412 million Rubles (USD 6,970 million) as of December 31, 2011, to 224,006 million Rubles (USD 6,826 million) as of June 30, 2012.

Total consolidated shareholders’ equity increased from 403,411 million Rubles (USD 12,530 million) as of December 31, 2011, to 422,875 million Rubles (USD 12,886 million) as of June 30, 2012.