OREANDA-NEWS. January 16, 2007. Operating results of Ventspils Nafta Terminals Ltd, a subsidiary of the joint stock company Ventspils Nafta, for the year 2007 when a company of the international oil and gas consortium Vitol Group became a co-owner of it have more than doubled. The volume of transshipments again exceeded 10 million tons for the first time since 2003. The volume of transshipments at Ventspils Nafta Terminals Ltd increased by 133.3% last year as against the year 2006, amounting to 13.3 million tons of crude oil and petroleum products delivered to the terminal by rail, sea and diesel pipeline.

The volume of diesel transshipments has grown most considerably during the year 2007 after Ventspils Nafta Terminals Ltd resumed successfully its reception by petroleum products pipeline. The volume of transshipped diesel delivered to the terminal by rail and pipeline reached 9.5 million tons in 2007, which is by 7.4 million tones more than in 2006.

The volume of sea cargos has also considerably increased (by 0.6 million tons) reaching already 1.8 million tons in 2007 as against the year 2006. Crude oil (1 million tons) accounts for the highest proportion of sea cargos. Ventspils Nafta Terminals Ltd also handled 1.7 million tons of motor gasoline of various grades in 2007.

“With the entrance of Vitol our terminal took a breath of fresh air – successful growth perspectives and development opportunities in correspondence with the best Western practice really approbated in the international business of Vitol almost all over the world. And we can see in practice that the company’s performance has already been improving,” points out Rolands Kalniтр, a director general and board member of Ventspils Nafta Terminals Ltd.

In December 2007, Ventspils Nafta Terminals Ltd handled 1.1 million tons of crude oil and petroleum products.