Transneft under fire
The pipeline company's leaders are used to doing things their way, but a new shareholder, who has Kremlin-backing, sees things differently and wants changes
Transneft, Russia's pipeline infrastructure monopoly, is under pressure to open up its shareholder base and ditch its appalling reputation in the area of corporate governance. The long-overdue overhaul is being spearheaded by Kirill Dmitriev, the chief executive of the Russian Direct Investment Fund (RDIF), the Kremlin-controlled sovereign wealth vehicle. Dmitriev was parachuted on to the Transneft board in July after the RDIF-related vehicles took a combined stake of almost 2% in Transneft, via a purchase of preferred shares. Of this stake, RDIF directly owns 0.43%, while the Russia-China Investment Fund, which is a co-funding vehicle for RDIF and China's state-owned China Investment Corpor
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
