MOSCOW, October 9 (RIA Novosti) - Transneft [RTS: TRNF] expects its consolidated net profit to increase 6% year-on-year in 2006 to 60 billion rubles ($2.2 billion), the vice president of Russia's state-owned oil pipeline monopoly said Monday.
Yevgeny Yevstafyev said the figure was 56.5 billion rubles ($2.11 billion) in 2005 and 43.8 billion rubles ($1.63 billion) in 2004.
Transneft's consolidated earnings in 2006 could reach 182.5 billion rubles ($6.81 billion), Astafyev said, putting growth down to more intensive pumping of crude through the Transneft system, and larger export volumes.
He said net profit of the head company in 2006 would remain near the level of the previous two years, at 4-5 billion rubles ($186.5 million).
