Joint stock company Ventspils nafta is the central holding company in a transit-oriented group whose task is to manage the investments in subsidiaries companies by promoting the Group’s joint values and growth in the value of each individual subsidiary. The Ventspils nafta Group is working in the following areas:

• transshipment of crude oil and petroleum products;
• transport of crude oil and petroleum products by pipelines;
• shipping business.

JSC Ventspils nafta started its work several decades ago, in 1961 when a terminal for transshipment of crude oil and petroleum products was put into operation at the port of Ventspils. In May 9, 1991, the company Ventspils nafta was registered in the Enterprise Register of the Republic of Latvia. It became a public joint stock company on October 15, 1997 with its shares listed at the Riga Stock Exchange as of October 2, 1998.

Following the recommendations of international auditors to diversify risks connected with political and economic factors, JSC Ventspils nafta acquired parts of ownership in several companies not involved in the transit business. As a result, the structure of JSC Ventspils nafta has gradually been transformed into that of a holding company.

Since December 2008, by optimizing and reorganizing the activity of JSC Ventspils nafta Group, only investments into the areas of crude oil and petroleum products transit and shipping business are retained in the management of the parent company, as it ceases operating in the areas of real property, printing and publishing.

Implementation of the reorganization plan of JSC Ventspils nafta was influenced by the global and local macroeconomic indices. This influence on the operating results of the companies of the Group caused a necessity to change the further development strategy of both the entire Group and JSC Ventspils nafta as parent company, in order to ensure the necessary return of investments in the interests of all shareholders of JSC Ventspils nafta. On the basis of recommendations of the local and international experts and advisers, the transit area, which has been the company’s historic basic business, has been defined as the further strategic development direction of JSC Ventspils nafta.

Such strategy will enable JSC Ventspils nafta to steadily develop one business area segment, focusing on its growth and improvement, especially considering the previous experience of several decades and the success in this area, as well as the international know-how, which has been actively acquired particularly in the recent years along with involvement of the international shareholder. As a result of reorganization, shareholders of JSC Ventspils nafta are gaining significant profit, and the company’s long-term assets are replaced by more rapid liquidity ratios. A value increase for the entire Group is thereby being achieved, and JSC Ventspils nafta will obtain financial resources for further development of the new strategic development direction according to the objectives that will be determined by the company’s shareholders.

JSC Ventspils nafta Group specializes in transit of crude oil and petroleum products. Two companies are working under the Group. The limited liability company Ventspils nafta termināls is engaged in transshipment and storage of crude oil and petroleum products at the port of Ventspils. More…

Whereas the limited liability company LatRosTrans is the owner and operator of the main pipelines of crude oil and petroleum products in the territory of Latvia. More...

JSC Ventspils nafta owns a significant shareholding (49.94%) in joint stock company Latvijas Kuģniecība (Latvian Shipping Company) which is well-known in the international shipping market. JSC Latvijas Kuģniecība is a Public joint stock company whose central office is located in Riga and which holds a notable position in the global shipping business, providing commercial, financial and technical management, as well as recruiting staff not only for its own ships, but also those of other ship owners. More...