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Transneft to Boost 2012 Spending on Pipe Upgrades, Interfax Says

Jan. 31 (Bloomberg) -- OAO Transneft, Russia’s oil pipeline operator, plans to increase spending on pipe modernization and maintenance by 10 percent this year to 94.2 billion rubles ($3.1 billion), Interfax said, citing company documents.

Transneft will boost investment in upgrades and technical re-fits by 13 percent to 84.7 billion rubles, while cutting money for capital repairs by 12 percent to 9.48 billion rubles, Interfax said.

To contact the reporter on this story: Stephen Bierman in Moscow

To contact the editor responsible for this story: Will Kennedy at

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