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Russia's Transneft says its Q1 net profit seen at $1.01 billion - Finance news and analysis from Global Banking & Finance Review
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Russia's Transneft says its Q1 net profit seen at $1.01 billion

Published by Global Banking & Finance Review

Posted on June 1, 2026

1 min read

· Last updated: June 1, 2026

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Transneft Announces $1.01 Billion Net Profit for Q1 2025

Transneft Q1 2025 Financial Results Overview

Net Profit Comparison

MOSCOW, June 1 (Reuters) - Russian oil pipeline monopoly Transneft reported on Monday a first-quarter net profit of 72.96 billion roubles ($1.01 billion) compared to 80.33 billion roubles in the first quarter of 2025.

Exchange Rate Details

($1 = 71.9500 roubles)

Reporting and Editorial Credits

(Reporting by Reuters; Editing by Susan Fenton)

Key Takeaways

  • Net profit fell approximately 9%, from 80.33 billion roubles in Q1 2025 to 72.96 billion roubles in Q1 2026 (≈ $1.01 billion).
  • Higher income tax rate of 40%, effective from early 2025, continues to weigh on earnings. (akm.ru)
  • Ongoing declines in oil transportation volumes—driven by OPEC+ supply cuts and logistic constraints—limit revenue growth for pipeline operator Transneft. (oilprice.com)

References

Frequently Asked Questions

What was Transneft's Q1 net profit in 2025?
Transneft reported a first-quarter net profit of 72.96 billion roubles ($1.01 billion) in 2025.
How does this compare to the previous year's Q1 profit?
Transneft's Q1 net profit decreased from 80.33 billion roubles in the previous year.
What is the exchange rate used in the report?
The exchange rate used is $1 = 71.9500 roubles.
Who reported and edited the financial results?
The results were reported by Reuters and edited by Susan Fenton.

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