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
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
