Russian oil major Tatneft increased oil output by 4.6% last year to 29.1 million tonnes, the company said on Monday in a management document analysing its 2022 performance.

Tatneft said it increased output of oil products by 29% to 16 million tonnes last year and refined an average of 324,000 barrels of oil per day, up 31% from 2021 levels.

The company is the only Russian oil producer so far to report 2022 results under international accounting standards. Last week it said net profit rose 43% to 284.6 billion roubles ($3.68 billion) in 2022.

Its latest analysis, published on Monday, also said that the company’s free cash flow increased by 33% last year to 196.8 billion roubles ($2.54 billion).
Source: Reuters (Reporting by Olesya Astakhova Editing by David Goodman)