Transneft Company Description
Transneft operates one of the largest networks of oil pipelines in the world. The company moves crude oil through more than 30,000 miles of pipeline stretching across Eastern Europe and Asia. After the breakup of the Soviet Union, the government agency that controlled the Russian oil industry and the pipeline system (Glavtransneft) reorganized and in 1991 formed the joint-stock company Transneft. Transneft operates a transportation network consisting of more than 30,000 miles of pipeline, about 390 oil refilling (pump) stations, and more than 830 reservoirs capable of storing more than 15 million cu. meters of petroleum products. The company transports about 93% of the oil produced in Russia.
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The Company Description provides a historical perspective of Transneft's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Transneft's evolution in the marketplace.
