Transneft President Reveals Expected Profit Figure

According to preliminary calculations, undistributed profit of Transneft is expected to be some 32bn rubles ($1.01bn) this year, Semyon Vaynshtok, president of the oil company, declared at a press conference devoted to the Russian Oil and Gas Week, responding to an RBC question. He was also quoted as saying that sales revenues would be some 90bn rubles ($2.84bn) this year.

As it was reported earlier, the company's net profit in 2001 amounted to 21bn rubles ($663m), consolidated revenues were 67.5bn rubles ($2.13bn).

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