09 June 2004 18:42
RUSSIA: TRANSNEFT NETS $1 BILLION
Oil pipeline monopoly Transneft's net profit rose 10 percent to 30.56 billion rubles (US$1.05 billion) in 2003,
a Transneft annual report revealed. The report said 2003 revenues to international accounting standards rose 17 percent
to 114.16 billion rubles. Transneft vice president Sergei Grigoryev added that higher volumes of oil and oil products
pumped through Transneft's pipelines were behind rising revenues. Another reason, he said, was a rise in
transportation fees. - (EMEConomy.com)
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