Interfax reported that Oil pipeline operator Transneft and petroleum product pipeline operator Transnefteproduct will merge in the middle of September 2007.

Mr Semyon Vainshtok chief of Transneft at a recent meeting with Mr Vladimir Putin president of Russia said that "We can expect the merger, which will bring a very big advantages to the oil industry and the country in general, to take place in the middle of September.”

Mr Vainshtok while updating on the process of the merger said "We are fulfilling the schedule we received from Rosimushchestvo to the hour.”