RAS net profit of Transneft up 2.4 times to RUB 19.987 bln in 9M’16

In January-September 2016, net profit of Transneft OJSC calculated under Russian Accounting Standards totaled RUB 19.98 bln (up 2.4 times, year-on-year), the company states.

Transneft’s revenue increased by 5.6% to RUB 596.53 bln.

Transneft is Russian oil transporting state monopoly (78% of shares, which is 100% of voting shares, are controlled by the state) and the largest pipeline company in the world holding 48,708 km of trunk pipelines.