When pipeline operator Transneft begins transporting oil westward from eastern Siberia, oil and gas producer Surgutneftegas will benefit. The pipeline was initially intended to convey oil to the eastern coast, but delays have spurred a reversal of direction - all the better for Surgutneftegas, which will reap profits from its production-ready Talakan Field in eastern Siberia. The privately owned business, which saw revenues of $23 billion last year, reported in August that its net profits for the first half of 2008 were up 85% from the previous year.
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