Economy Minister Vahan Kerobian has acknowledged that the Armenian government’s $1.2 million project to revive a Black Sea ferry service as an alternative trade route between Russia and Armenia has been a failure.
A general view shows the Novorossiysk Fuel Oil Terminal (NMT) in the Black Sea port of Novorossiisk, Russia May 30, 2018. REUTERS/Natalya Chumakova/File Photo…
Transneft expects slight decrease in oil transportation YoY in 2021 due to OPEC+, but growth of revenue
MOSCOW. Jan 13 (Interfax) - PJSC Transneft expects its consolidated revenue for 2020 to total 950.8 billion rubles, the oil pipeline monopoly said in a statement.
The statement said that the coronavirus pandemic, reduction of oil production volumes in Russia in accordance with the OPEC+ agreement, and, consequently, of oil transportation via the Transneft system had significantly affected the trend of the company s key financial indicators.
In 2021, the company expects gradual lifting of the restrictions on oil production in Russia in the framework of the OPEC+ agreement with a corresponding increase in volumes of oil transportation compared to the level at the end of 2020. However, due to the fact that these restrictions will apply for the whole year - compared to the period from May to December in 2020 -, target transportation volumes will decrease slightly compared to the