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Assets and liabilities representation in JSC “Ventspils nafta” statement of financial position

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Assets and liabilities representation in JSC “Ventspils nafta” statement of financial position

november 12, 2015 / Ventspils nafta

The Annual Reports of JSC Ventspils nafta and its subsidiaries (“the Group”) are audited and approved by independent auditing companies. The 2014 Annual Report for the Group was audited and approved by PWC. It contains a signed statement from the auditor, confirming that the accounts accurately reflect all assets and liabilities of the Group, including any outstanding payments. The debt of Euromin Holdings (Cyprus) Limited (“Euromin”) to JSC Ventspils Nafta is shown in the balance sheet of the annual report as Loans to affiliated companies under the section, non-current assets The asset is therefore included in the current valuation of JSC Ventspils Nafta. 

The loan note will be repaid by Euromin on 15 October 2016. 

Any further request for clarification should be made to JSC Ventspils nafta or their auditors PWC.

 

 

About JSC “Ventspils nafta” 

JSC “Ventspils nafta” is one of the largest groups of companies in Latvia and works in the petroleum product transport, transhipment, storage and shipping sector. JSC “Ventspils” nafta is the Group’s parent company, which manages investments in subsidiary companies, by promoting the Group’s joint values and growth in value of each individual company.

JSC “Ventspils nafta” owns 51% in “Ventspils nafta terminals” Ltd, which is the largest crude oil and petroleum product terminal in the Baltics; 66% in “LatRosTrans” Ltd, which is a Latvian-Russian joint venture in the Baltics; 49.94% in JSC “Latvijas kugnieciba”, which is among the largest ship owners in the world in the medium-sized and handy tankers category. 

Shares of JSC “Ventspils nafta” (NASDAQ RIGA: VNF1R) are quoted in the Baltic Main List of the stock exchange NASDAQ Riga since October 20, 1998.

 

 

Elīna Dobulāne, Communications Consultant

JSC “Ventspils nafta”

Phone: +371-25959447

E-mail: elina.dobulane@vnafta.lv 

www.vnafta.lv