Transneft expects revenue to grow by 4% to 988.6 bln rbl in 2021

MOSCOW, Jan 13 (PRIME) -- Russian oil pipeline monopoly Transneft expects revenue to rise by 4% in 2021 to 988.6 billion rubles, the company said in a statement on Wednesday.

"Taking into account indexation of Transneft tariffs and the growth of revenue from oil sales in the People's Republic of China, the revenue plan of the company grew by 4% as compared with 2020," Transneft said.

Revenue from oil transportation is expected at 683 billion rubles, from transportation of oil products at 71.1 billion rubles.

In 2020, the company’s revenue stood at 950.8 billion rubles, oil pumping revenue at 658.6 billion rubles and the oil product pumping revenue at 73.6 billion rubles.

The company said that it expects capital expenditures except on the Novorossiysk Commercial Sea Port (NCSP) at 224.7 billion rubles in 2021 after 208.3 billion rubles in 2020.

The company said that it expects to redeem 52 billion rubles of exchange bonds and U.S. $223 million of NCSP bonds in 2021.

(74.2663 rubles – U.S. $1)

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