Pipeliners

RBC, 31.10.2006, Moscow 10:32:20. The net profit of Transneft under Russian accounting standards increased 42.9 percent to RUR1.419bn (approx. USD53.05m) in Q3 against Q2 2006, the company said in a press release. Transneft puts the rise in the net profit down to a decline in expenses that was 0.3 percent faster than the decline in revenue in Q3 compared with Q2. Also, the completion of the Baltic Pipeline System's facilities and the related changes in deferred taxes also had a positive effect. Earlier, Transneft's President Yevgeny Astafyev said the company expected its consolidated net profit to rise 6.2 percent to RUR60bn (approx. USD2.24bn), and revenue to climb by 5.6 percent to RUR172.9bn (approx. USD6.46bn).