Ventspils nafta
 
 

About operating results of JSC “Ventspils nafta” Group’s companies in 2015

Back

About operating results of JSC “Ventspils nafta” Group’s companies in 2015

february 5, 2016 / Ventspils nafta

In the twelve months of the past year, JSC “Ventspils nafta” subsidiary “LatRosTrans” Ltd (LRT) transhipped 4.7 million tons of petroleum products (2014 – 5.7 million tons). In turn ““Ventspils nafta” terminals” Ltd (VNT) transhipped 9.2 million tons of cargo in this time period (2014 – 10.58 million tons). 

“Although the volumes of transhipped petroleum products have decreased in 2015, the changes are smaller than anticipated. The market situation still has not improved and that is reflected by the decrease in cargo volumes. The transit sector needs state’s support to ensure favourable business conditions,” says Robert Kirkup, head of companies of the JSC “Ventspils nafta” Group.

In the second half of 2015, a decrease was observed for petroleum products transported via pipeline from Russia. This drop in volumes of petroleum products transported by LRT in turn had impact on the operating results of VNT too, yet it was partially compensated with deliveries from Belarus.

In turn in the fourth quarter of the past year, the volumes of petroleum products transported by LRT was 0.87 million tons; in the previous year the amount of transported petroleum products in this period was 1.01 million tons. VNT transhipped 1.77 million tons in the last quarter but in the respective period last year – 2.10 million tons of cargo.