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Operating results of JSC “Ventspils nafta” Group companies in the first half of the year

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Operating results of JSC “Ventspils nafta” Group companies in the first half of the year

july 29, 2016 / Ventspils nafta

In the first half of 2016 JSC “Ventspils nafta’s” subsidiary ““Ventspils nafta” terminals” Ltd transhipped 4.29 million tons of petroleum products, in turn “LatRosTrans” Ltd transported 2.4 million tons.

The transported volumes are consistent with the predictions of the management of JSC “Ventspils nafta” Group. “We continue to face challenges both in the economic environment within the Baltic States and locally, therefore we are cautious about future petroleum product transportation volumes. We are ready for larger investments in the business development and greater contribution to the national economy, but there is a lack of encouraging attitude from authorities, for example, regarding the issue of permits necessary for the installation of a vapour recovery unit in the Freeport of Ventspils,” emphasizes Robert Kirkup, the Chairman of the Management Board of JSC “Ventspils nafta”.

In the second quarter ““Ventspils nafta” terminals” Ltd transhipped 1.5 million tons, in turn “LatRosTrans” Ltd transported 831 thousand tons of petroleum products, thus exceeding in the first half of the year the historic transportation volume of 100 million tons. Since 1994 “LatRosTrans” Ltd has transported over 100 000 000 tons of petroleum products of Russian and Belorussian producers via the pipeline system in the territory of the Republic of Latvia to the port of Ventspils.