MOSCOW (Reuters) – Pipeline monopoly Transneft (MCX: TRNF_p) is considering reducing investments from the plan in 2020 by 45 billion rubles, in 2021 by 30 billion rubles due to the operation of the OPEC + deal, according to the presentation of Transneft on the results of reporting for half a year.
“Taking into account the OPEC + transaction, Transneft has worked out a budget stress scenario that provides for a reduction in investment financing in 2020 by over 45 billion rubles (about 20% of program volumes) and in 2021 by about 30 billion rubles (about 12%) with their planned replenishment in subsequent periods – in 2022-2025, “- says the presentation of Transneft.
According to the previously approved plan, Transneft expected to allocate 3.6 billion rubles for investment projects in 2020 and another 236.8 billion rubles for technical re-equipment and reconstruction, and in 2021 – 2.5 billion rubles and 234.9 billion rubles, respectively.
(Olesya Astakhova. Edited by Anastasia Teterevleva)