"Russia must make a profit," he said, adding the CTC's losses have exceeded $5.5 billion.
The 935-mile Caspian pipeline links oil fields in western Kazakhstan with Russia's Black Sea coast.
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Russia to Raise Oil Transportation Tariffs
"To turn the situation around, we will have to consider sharply raising oil transportation tariffs"
The Caspian Pipeline Consortium of Russia, kazakhstan and Oman, is operating at a loss, and the situation can only be rectified by raising oil-shipment tariffs, Semyon Vainshtok, Transeft CEO said Tuesday.
Vainshtok said it is perfectly logical in this context to transfer the management of Russia's 24%-stake in the CTC to Transneft.
"Russia must make a profit," he said, adding the CTC's losses have exceeded $5.5 billion.
"To turn the situation around, we will have to consider sharply raising oil transportation tariffs," he said.
The 935-mile Caspian pipeline links oil fields in western Kazakhstan with Russia's Black Sea coast.
"Russia must make a profit," he said, adding the CTC's losses have exceeded $5.5 billion.
The 935-mile Caspian pipeline links oil fields in western Kazakhstan with Russia's Black Sea coast.
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