Tatneft said earlier it planned to de-list from the NYSE and terminate its registration with the U.S. Securities and Exchange Commission with the aim of focusing trading in its stock on the London Stock Exchange.
The company said it would remain under SEC regulations until it lodged an application with the commission.
Tatneft, a major oil company owned by the government of Russia's Tatarstan region and the only Russian company listed in both London and New York, also said its expenses at the SEC, an investment protection body, had grown considerably in recent years.
Focusing on the London Stock Exchange will raise the liquidity of Tatneft stock, the company said, and the money to be saved by withdrawing from SEC would be used to increase dividends.
The company posted net profit according to Russian Accounting Standards of 23.4 billion rubles (about $872 mln) for the first half of 2006, up 45% on the same period of last year.
