Pipeliners

RBC, 21.03.2005, Moscow 14:48:30.Consolidated net income of Russian-based Transneft has grown 20 percent to RUR41.1bn (around USD1.467bn), Transneft President Semyon Vainshtok has announced at an energy forum in Moscow. Transneft exported 238m tons of oil, including oil transit. Russia's overall oil production was 450m tons in 2004. The company wants to boost oil export facilities by 16 percent this year. Transneft is targeting oil exports of 255m tons this year, Vainshtok stressed. He named the Baltic Pipeline System among the company's high-priority projects. Transneft wants to boost its capacity to 60m tons in the first half of this 2006.