Russian watchdog OKs raising Transneft oil transport tariff Thu

MOSCOW, Aug 31 (PRIME) — Russias Federal Tariff Service has approved increasing the oil transportation tariff for oil pipeline company Transneft by 2.85% on average from Thursday and 5.00% on average from November 1, a representative for the service told PRIME Wednesday.

In July, Transneft asked the service to increase the tariff by 4% on August 1 and by up to 7% on November 1, Denis Volkov, an official at the service, said then.

Transneft applied to the regulator in May seeking an average hike of 3% on its oil transportation tariff in 2011.

The service increased the tariff three times in 2010; 15.9% from January 1, 3.3% from August 1, and 9.9% from December 1, and planed to keep the last increase in force throughout 2011.


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