MOSCOW, October 25. /TASS/. Transneft and Lukoil discussed cooperation in the transportation of oil and oil products, according to a statement from the pipeline company.

"Today the president of Transneft and the management of Lukoil held a working meeting to discuss current issues of cooperation in the transportation of oil and oil products. The parties noted a high level of interaction between the departments of the companies," the statement said.

Transneft is a Russian transportation monopoly that operates the country's main oil pipelines. The state owns 78.55% of the authorized capital of the company, or 100% of the voting shares.

Lukoil, founded in 1991, is a vertically integrated oil and gas company. The majority of the company's production assets are located in Russia. Lukoil has a full production cycle that includes geological exploration, oil and gas production and refining.