This article contains content that is written like an advertisement. (December 2014) (Learn how and when to remove this template message)
This article needs additional citations for verification. (January 2009) (Learn how and when to remove this template message)
|Traded as||MCX: TRNFP|
|Industry||Oil and gas|
|Founded||14 August 1993|
Nikolay Tokarev (Chairman)|
(Chairman of the Board of Directors)
|Revenue||$12.6 billion (2016)|
|$4.17 billion (2016)|
|$3.47 billion (2016)|
|Total assets||$41.3 billion (2016)|
|Total equity||$25.6 billion (2016)|
|Owner||Government of Russia (100%)|
Number of employees
Joint Stock Company Transneft (Russian: Транснефть) is a Russian state-owned transport monopoly, the largest oil pipeline company in the world. JSC "Transneft" is operating over 70 thousand kilometers of trunk pipelines. It transports about 90% of oil and 30% of oil products produced in Russia, in addition to considerable volumes of crude hydrocarbons from the CIS countries. The company is headquartered in Moscow and led by Nikolay Tokarev.
Oil Transporting Joint-Stock Company Transneft was established by Decree of the Government of the Russian Federation No. 810 dated 14 August 1993 in pursuance of Decree of the President of the Russian Federation No. 1403 dated 17 November 1992. The founder is the Government of the Russian Federation. Transneft, JSC was registered by the Moscow Registration Chamber on 26 August 1993, certificate No. 026.800.
Transneft's core business
- pumping, coordination and management of pipeline transportation of oil and oil products via trunk pipelines across Russia and abroad.
- comprehensive development of the oil trunk pipeline network and other pipeline transport facilities
- coordination of steps for solution of scientific and technological progress issues in pipeline transportation, introduction of new technologies and materials.
- cooperation with international pipeline transportation companies for the purposes of oil and oil products transportation in accordance with intergovernmental agreements.
- raising funds for development of production capacities, expansion and rebuilding of Transneft subsidiaries’ facilities.
- organization and provision of environmental safety measures at the locations of trunk pipeline transportation facilities.
Pipeline project accusations
Documents submitted by Transneft to the Russian Audit Chamber in 2008 were found at the disposal of Alexey Navalny, minority shareholder of Transneft JSC. The papers[permanent dead link], published on 16 November 2010, contain information regarding multiple economic crimes committed by Transeft employees, its daughter structures and contractors in the construction of the Eastern Siberia – Pacific Ocean oil pipeline. The documents described Transneft executives’ setting up a series of shell companies to pose as contractors for Transneft’s pipeline project.
Navalny posted an audit indicating that the contracting fraud had cost Transneft $4 billion. Both Transneft and the government auditing office, whose documents Navalny said he leaked on his site, denied the corruption claim. Prime Minister Vladimir Putin called for an investigation into the allegations.
|Wikimedia Commons has media related to Transneft.|
- Official website in English
- Transneft news
- Transneft press releases
- Publications about Transneft
- A Transneft JSC Shareholder Intends to Bring the Company Management to Criminal Liability