Transneft OJSC is planning to raise rates on its services by 5.7% from January 1, 2007, the Company's Vice-President Sergey Grigoriev told AK&M.
The relating documents have been submitted to the Federal Tariff Service, the decision will be taken in December. "This rise is aimed at compensating for the inflation level. This is the Company's policy, we advance rates once a year," Mr. Grigoriev said.
He also noted that the increase in rates has nothing to do with the financing of the construction of the Eastern Siberia-Pacific Ocean oil pipe. "It is when we raise a credit, interests on it are included in rates," he marked.
At present, rates on oil transmission in Russia total RUB 8.49 per 100 tonne-kilometer, outside the country - $0.3032 per tonne-kilometer.
Transneft occupies a monopolistic position in the market of export oil deliveries by pipeline transport. In 2005, it increased the volume of oil transportation by 1% to 453.8 million tons. 249.4 million tons were exported, it is 105% to the figure of 2004. In 2005, Transneft's net income calculated under IFRS grew by 23.6% to RUB 53.814 billion from RUB 43.523 billion in 2004. Its revenues rose by 20.7% y-o-y - to RUB 181.526 billion from RUB 150.441 billion.
The relating documents have been submitted to the Federal Tariff Service, the decision will be taken in December. "This rise is aimed at compensating for the inflation level. This is the Company's policy, we advance rates once a year," Mr. Grigoriev said.
He also noted that the increase in rates has nothing to do with the financing of the construction of the Eastern Siberia-Pacific Ocean oil pipe. "It is when we raise a credit, interests on it are included in rates," he marked.
At present, rates on oil transmission in Russia total RUB 8.49 per 100 tonne-kilometer, outside the country - $0.3032 per tonne-kilometer.
Transneft occupies a monopolistic position in the market of export oil deliveries by pipeline transport. In 2005, it increased the volume of oil transportation by 1% to 453.8 million tons. 249.4 million tons were exported, it is 105% to the figure of 2004. In 2005, Transneft's net income calculated under IFRS grew by 23.6% to RUB 53.814 billion from RUB 43.523 billion in 2004. Its revenues rose by 20.7% y-o-y - to RUB 181.526 billion from RUB 150.441 billion.