UPDATE: Report: CEO says Transneft to ask govt to include divs in tariffs

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MOSCOW, Dec 14 (PRIME) -- Russian oil pipeline monopoly Transneft plans to ask the government to include dividends in its tariffs, CEO Nikolai Tokarev told channel Rossiya 24 in an interview broadcast Friday.

“We will surely raise the question, we are raising it systemically with all government bodies, including the need to envisage a component in the tariffs that can be converted into dividends,” he said.

“Because we can take endless loans without it but it will reduce spending on the investment program, this is unacceptable as well.”

Transneft plans to invest about 200 billion rubles per year in the upgrade of equipment, starting from 2020, he added. The current investment cycle will end in 2020 and large investment programs will be fulfilled by then.

The company’s capital expenditures are planned at 273.7 billion rubles in 2018 and its investment program is expected to exceed 56 billion rubles.

(66.2550 rubles – U.S. $1)

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