RAS net profit of Transneft down 2.1 times to RUR 556.479 mln
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In the first quarter of 2009, net profit of Transneft under Russian Accounting Standard fell 2.1 times to RUR 556.479 mln, the company officially states.
Oil Transporting Joint Stock Company Transneft was established in 1992 and is the legal successor of the USSR Ministry of Oil Industry Main Production Department for Oil Transportation and Supplies (Glavtransneft). It operates 48,700 kilometers of oil pipelines transporting 93% of oil in Russia.