Transneft ready to stop increasing oil from BPS

Russia’s state-owned pipeline monopoly Transneft says it has almost completed increasing the amount of oil from the Baltic Pipeline System. The pipeline supplies Siberian oil to the Primorsk terminal.

Transneft's head Semyon Veinshtok said the move is part of Russia's drive to improve coastal infrastructure in order to boost oil exports by sea and reduce dependence on transit countries.

Veinshtok met with President Putin on Monday to discuss the project.