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Half-year performance results of VNT and LRT are stable

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Half-year performance results of VNT and LRT are stable

july 16, 2014 / Ventspils nafta termināls

 ““Ventspils Nafta” Terminals” (VNT), subsidiary of “Ventspils nafta”, transhipped 6.4 million tons of oil and petroleum products in the first six months of 2014. The amount of petroleum products transported by “LatRosTrans” (LRT) via the pipeline reached 3.3 million tons.  

Management of the “Ventspils nafta” group indicates that the total amount transhipped by VNT in the first six months was 2.6% bigger than in 2013 thus showing that despite the tough competition in the terminal business and geopolitical situation company’s performance was very stable. 

Commenting on LRT results, management of the group emphasises that, although the transported amount was 7% smaller than in the first half of 2013, it is satisfied with the results and believes that they reflect on the current market situation in general.

 

About JSC Ventspils nafta

JSC Ventspils nafta is one of the largest groups of companies in Latvia and works in the petroleum product transport, transshipment, 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 termināls Ltd, which is the largest crude oil and petroleum product terminal in the Baltics; 66% in LatRosTrans Ltd, which is the largest Latvian-Russian joint venture in the Baltics; 49.94% in JSC Latvijas kuģniecība, which is among the largest ship owners in the world in the medium-sized and handy tankers category. 

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