Pipeliners

28.04.2007 (16:33) - RIA Novosti - Transneft oil export pipelines are loaded almost to capacity, with a reserve of 30-36 million barrels, the Russian pipeline monopoly's president said Saturday. Transneft transports over 90% of Russia's crude output to domestic and foreign markets. The company runs 48,000 kilometers (30,000 miles) of pipelines and three oil terminals - two on the Black Sea and one on the Baltic Sea. The company's reserve capabilities had essentially declined after an accident on the Druzhba pipeline, which made Transneft cut off 15 million tons (110 million bbl) of crude exports. Last July, an oil spill on a western section of the pipeline caused shipments to Lithuania's Mazeikiu nafta refinery to be suspended. In 2006, the company increased oil transportation 1.3%, year-on-year, to 458.5 million tons (3.36 billion bbl), including 251.6 million (1.84 billion bbl) for exports, a 0.9% rise. The government owns 75% of Transneft stock or 100% of its voting shares. Transneft's charter capital is 6.22 million rubles (about $240,000). Preferred shares are held by private owners.