Published by Global Banking & Finance Review®
Posted on May 30, 2025
1 min readLast updated: January 23, 2026
Add as preferred source on GoogleTransneft's Q1 net profit decreased by 15% to $1 billion due to shrinking revenue. The company operates Russia's extensive oil pipeline network.
MOSCOW (Reuters) - First-quarter net profit of Russia's oil pipeline monopoly Transneft declined by around 15% to 80.3 billion roubles ($1 billion) as revenue shrank, the company said.
Profit in the period for Transneft, which operates Russia's 67,000 kilometre-long (42,000 miles) oil pipeline network, also declined, to 84.2 billion roubles from 98.2 billion roubles in January-March 2024.
Transneft's main source of revenue is tariffs on oil and oil products shipments via its vast pipeline network. It transports more than 80% of the total oil produced in Russia.
($1 = 78.5000 roubles)
(Reporting by Vladimir Soldatkin and Olesya Astakhova; editing by David Evans)
Transneft's net profit for the first quarter was 80.3 billion roubles, equivalent to $1 billion.
Transneft's profit declined by around 15% from 98.2 billion roubles to 84.2 billion roubles in the January-March period.
Transneft's main source of revenue comes from tariffs on oil and oil products shipments through its extensive pipeline network.
Transneft transports more than 80% of the total oil produced in Russia.
The report indicated that $1 was equivalent to 78.5000 roubles.
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