# FORM 6-K

UNITED STATES 
SECURITIES AND EXCHANGE
COMMISSION

Washington, D.C. 20549

# Report of Foreign Issuer
  
July 23, 2004

**Pursuant to Rule 13a-16 or 15d-16 of 
  the Securities Exchange Act of 1934**


# OAO TATNEFT
(also known as TATNEFT)

(name of Registrant)

75 Lenin Street
Almetyevsk, Tatarstan
423450
  Russian Federation

(Address of principal executive
offices)

Indicate
by check mark whether the registrant files or will file annual reports under cover Form
20-F or Form 40-F.

Form 20-F . . . X . . . . Form 40-F . . . . . . . .


Indicate
by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.

Yes . . . . . . No . .
..X. . . .

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July 23, 2004

On July 23, 2004 OAO Tatneft issued
the following press-release:

Press-Release

OAO Tatneft explains the delay in
the publication of its 2003 consolidated financial statements under U.S. GAAP and its annual
report on Form 20-F

Almetyevsk, Republic of
Tatarstan  July 22, 2004

OAO Tatneft today explains the delay
in the publication of its 2003 consolidated financial statements under U.S. GAAP and its
annual report on Form 20-F for 2003.

The delay is caused by the need to
provide documentary or other evidence to the satisfaction of Tatnefts auditors,
Ernst & Young, with respect to the nature of certain transactions involving several
companies mainly outside Russia.

To facilitate the completion of the
U.S. GAAP audit, the Audit Committee of the Board of Directors of OAO Tatneft has
appointed an English law firm, Kennedys, to conduct an independent review of the
transactions identified by Ernst & Young. To help them conduct the review, Kennedys
will be approaching additional consultants. In particular, with respect to any issues
relating to the requirements of U.S. law, Kennedys will be assisted by a U.S. law firm,
Morrison and Foerster LLP. Neither Kennedys nor Morrison and Foerster has any pre-existing
relationship with Tatneft.

OAO Tatneft expects the review to be
completed in August 2004. Since audited 2003 financial statements prepared under U.S. GAAP
must be included in Tatnefts annual report on Form 20-F, Tatneft will not be in a
position to file its annual report on Form 20-F until completion of the audit.

Tatneft has, however, filed on Form
6-K its annual report to shareholders, as well as report of Miller and Lents, Ltd.
regarding its review of OAO Tatnefts hydrocarbon reserves as of December 31, 2003.
Tatnefts annual report to shareholder included its statutory accounts prepared in
accordance with the Russian legislation.

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Forward-looking statements:
  This press-release may contain certain forward-looking statements of OAO Tatneft. OAO
Tatneft does not guarantee occurrence of any events mentioned in such statements as well
as term of their occurrence.

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# SIGNATURES

Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.

``

| | OAO TATNEFT 
By: /s/ Vladimir P. Lavushchenko
        Name: Vladimir P. Lavushchenko 
        Title: Deputy General Director for Economics, 
        Chairman of Disclosure Committee
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

`Date:    July 23, 2004`