Transoil, "Balttransservice Ltd." Branch

Russia · Oil & Energy

Transneft (Russian: Транснефть) is a Russian state-owned business responsible for the national oil pipelines. It was founded in 1993 and owns the largest oil pipeline system in the world, with a total network length of almost 50,000 kilometres (31,000 mi). Transneft transports about 93% of the oil produced in Russia [1]. The company is headquartered in Moscow and led by Nikolay Tokarev. Transneft was established in accordance with Presidential Decree No. 1403 dated 17 November 1992 and Russian Government Resolution No. 810 dated 14 August 1993, and is the legal successor to the USSR Ministry of Oil Industry Main Production Department for Oil Transportation and Supplies (Glavtransneft), with 100% of shares belonging to the state. On 16 April 2007, pursuant to a presidential decree signed by president Putin, Transnefteproduct - an organisation concerned with the transportation of refined oil products, was merged into Transneft