Transneft transports over 90% of Russia's crude output to domestic and foreign markets. The company runs 48,000 kilometers (30,000 miles) of pipelines and three oil terminals - two on the Black Sea and one on the Baltic Sea.
"Now, we are operating almost at the ultimate load, although we had a considerable surplus a year ago," Semyon Vainshtok told the Vesti 24 TV channel.
He said the company's reserve capabilities had essentially declined after an accident on the Druzhba pipeline, which made Transneft cut off 15 million tons (110 million bbl) of crude exports.
Last July, an oil spill on a western section of the pipeline caused shipments to Lithuania's Mazeikiu nafta refinery to be suspended.
"Of course, we have some 4, maybe 5 million tons [30-36 million bbl] of a reserve capacity, but that is not so much for over 250 million tons [being exported]," Vainshtok said.
In 2006, the company increased oil transportation 1.3%, year-on-year, to 458.5 million tons (3.36 billion bbl), including 251.6 million (1.84 billion bbl) for exports, a 0.9% rise.
The government owns 75% of Transneft stock or 100% of its voting shares. Transneft's charter capital is 6.22 million rubles (about $240,000). Preferred shares are held by private owners.
