Putin will attach "Transnefteprodukt" to "Transneft"

Russian President Vladimir Putin signed a decree on the accession of Transnefteprodukt to Transneft. Association can occur within a 5-month period. At the same time, the state plans to maintain at least 75% of the shares of a united company, Interfax reports.

The President of Russia signed the Decree "On Transneft OJSC", the Kremlin press service reported. According to the decree, at the proposal of the Government of the Russian Federation, 100% of the shares of Transnefteproduct OJSC will be privatized by making them as a deposit of Transneft as a state of payment of additional ordinary shares placed by the state.

The President instructed the government to ensure the union within a 5-month period. Promotions "Transnefteprodukt" are excluded from the list of strategic enterprises approved by the Decree of the President of August 4, 2004. The share of the Russian Federation in the authorized capital of a united company should be at least 75% + 1 share.

Earlier, simultaneously with the merger of Transneft and Transnefteproduct, the pipeline monopoly was planned to be transferred to the management of the share of the Russian Federation at the Caspian pipeline consortium (KTK, the Russian Federation belongs to 24% in KTK). This also requires a decree of the President of Russia.

The plan to combine pipeline monopolies was developed back in 2006. The feasibility of combining companies was motivated by a similar type of activity and a predictable increase in efficiency. At the beginning of 2007, the departments agreed on their proposals to unite and sent them to the government, and then, in turn, to the presidential administration.

Transneft is a monopolist in pipeline transportation of oil in the Russian Federation. The company operates a network of oil pipelines with a length of 48 thousand km, 336 oil pumping stations, 861 oil storage tank with a total of 14 million cubic meters and 3 oil terminals in Novorossiysk, Tuapse and Primorsk.

The Russian Federation in the person of the Federal Property Management Agency owns 100% of Transneft's voting shares (75% of the authorized capital), 25% of the company's shares belongs to private investors. Transneft shares belong to the group of the most liquid securities of the Russian stock market.

Transnefteprodukt is a state monopolist for pipeline transportation of oil products in Russia and the Near Abroad. The total length of the main oil pipelines belonging to him is 19.3 thousand km. The holding includes ten transporting societies, including eight Russian, one Belarusian and one Ukrainian. In addition, the TNP belongs to 34% of the shares of LLC Latrostrans, which transports light petroleum products through the territory of Latvia. The volume of pumping of TNP in 2004 amounted to 27.4 million tons, revenue - 12.5 billion rubles, profit before taxes - 4.9 billion rubles.