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The net profit of Russian state-owned oil pipeline company Transneft under International Financial Reporting Standards (IFRS) in the first quarter of 2017 increased by 5.2% compared to the same period of the previous year and amounted to 79.5 billion rubles (1.4 billion USD). The company’s revenue for the period increased by 7.4% to 219.07 billion rubles. The press service of the company noted that revenue growth was mainly due to an increase in revenues from the provision of oil transportation services and revenues from the sale of oil.

The EBITDA in January-March 2017 increased by 3%, amounting to 110.4 billion rubles, mainly due to the growth in revenues from the provision of oil and petroleum products transportation services.

The volume of oil delivered to consignees in the first quarter amounted to 117.7 million tons, which is lower by 1.4% compared to the same period of the same period in 2016, oil turnover decreased by 1 billion ton-km or by 0.3%.

The volume of delivery of oil products to consignees amounted to 8.1 million tons, or 0.3 million tons (3.6%) less than an year earlier.