MOSCOW, February 1 (RIA Novosti) - Tatneft [RTS: TATN] said Thursday its market capitalization grew 33% during 2006, reaching $10 billion at the end of the year.
The oil company, which is controlled by the government of the Republic of Tatarstan in the Volga region, said the growth was due to efforts to improve corporate governance, increase its reserves, restructure, and divest non-core assets.
Tatneft accounts for over 80% of crude output in Tatarstan, and produced 25.334 million metric tons (509,000 bbl/d) of oil in 2006, the same as in 2005.
