Transneft maps out to pump 30 million tons of oil via ESPO in 2011

OAO “Joint-stock company “Transneft” plans to pump 30 million tons of oil via the “Eastern Siberia-Pacific Ocean” (ESPO), of which 8.8 million tons are of Eastern Siberian resources and 21.2 million tons –Western Siberian resources. The head of transportation department, oil quality and oil record keeping I.Katsal said, the magazine “Transneft” writes.

According to him, oil pumping via the ESPO made up 15.3 million tons in 2010, 5.9 million tons of which is oil from Eastern Siberia (Talakansky and Verchnechonsky deposits) and 9.4 million tons – oil fromWestern Siberia.

 I.Katsal has also noted the countries, which are interested in the oil from the ESPO. They are Japan (30% consumption in 2010),South Korea(28%), the USA (16%),Thailand(12%) and China(8%).

Transneft is the Russian oil pipeline monopoly and the world largest pipeline company. It owns 48 thousand 708 km of main oil pipelines. The registered capital of Transneft consists of 77% of ordinary shares, belonging to the state and 23% privileged shares, of which 21% are controlled by Prosperity Capital Management, East Capital International and Vostok Nafta Investment and others . The net profit of Transneft under IAS is down by 4.5% to 88.16 billion roubles over 9 months of 2010, RBK reports.

http://www.oilru.com/news/245875/

Translated by Iraida Idiyatova