Net Profit of Transneft under IAS down 14.3% to RUB 158.01 bln in 2013

In 2013, net profit of Transneft OJSC calculated under International Accounting Standards totaled RUB 158.01 bln (-14.3%, year-on-year), the company states.

The revenue climbed by 2.4% to RUB 749.61 bln.

Transneft is Russian oil transporting state monopoly (75% of voting shares are controlled by the state) and the largest pipeline company in the world holding 48,708 km of trunk pipelines. Transneft’s net profit calculated under Russian Accounting Standards climbed by 5.7% to RUB 11.26 bln in 2013.