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Russia’s state-controlled oil pipeline giant Transneft, which operates a network spanning approximately 67,000 km and carries over 80% of the country’s crude, has reported continued declines in transport volumes during 2025.
According to Baird Maritime, Transneft’s First Deputy CEO Maxim Grishanin confirmed in a statement that oil flows have decreased this year. He warned that revenues are unlikely to recover to levels seen over the past decade before around 2030 due to these volume declines and related structural challenges.
In 2024, the pipeline system transported 447 million tonnes of oil (about 8.94 million barrels per day) including 435 million tonnes of Russian crude and 12 million tonnes from Kazakhstan. This marks a drop from 460 million tonnes in 2023. The company attributes this decline to the ongoing effects of OPEC+ production strategies, technological bottlenecks and logistical constraints (Baird Maritime).
A Reuters analysis highlights how global crude flows also contracted, with a 2% drop in exports in 2024 due to weak demand and rerouted supply chains affected by the war in Ukraine.
Additionally, Transneft reported a 5% decline in 2024 net income, totaling 287.7 billion roubles (approximately $3.4 billion), citing increased taxes and rising operating costs. While total revenue rose slightly to 1.4 trillion roubles, pipeline volumes slipped by 3% for crude and 2% for refined products. The company also cautioned that major capital investments may be delayed or scaled back by 2026 (Reuters).
Transneft’s vast infrastructure including major conduits like the Druzhba pipeline remains critical to Russia’s export strategy. But falling volumes reflect broader market headwinds including shifting global demand, OPEC+ production realignment, aging pipeline networks and intensifying export duties.
With lower throughput and slimmer margins, Transneft now forecasts it will not recover its former revenue performance until around 2030, signaling a long-term structural transition in Russia’s oil logistics sector.
