OREANDA-NEWS. October 16, 2009. Public joint stock company's Ventspils nafta subsidiary Ventspils nafta terminals Ltd has transshipped overall 8.5 million tons of crude oil and petroleum products in the nine months of 2009. These results can be considered as very successful in the view of external factors that have had significant impact on activity of Ventspils nafta terminals Ltd in the last three months - the international market structure and repair works of the main petroleum products pipeline Polotsk-Ventspils in the territory of Belarus.

The largest proportion of the cargos transshipped by Ventspils nafta terminals Ltd in the period of January-September 2009 is formed by 6.3 million tons of diesel fuel delivered via petroleum products pipeline and by railway. 1.7 million tons of the total transshipment volume is formed by motor gasoline of various grades transported by railway and other petroleum products, and 0.5 million tons - by crude oil and petroleum product cargos delivered by sea.

Transshipment results of Ventspils nafta terminals Ltd are affected in 2009 by the market structure, as well as repair works of the main petroleum products pipeline in the territory of Belarus. The pipeline is systematically reconstructed after the accident that happened in spring of 2007 in an effort to avoid possible fractures, emergency conditions and ecological threat to environment - inter alia in the territory of the Republic of Latvia. It is planned that repairs of the pipeline in Belarus will continue as long as until the end of 2009.

"In this situation, activity of Ventspils nafta terminals Ltd can be assessed as effective and the achieved transshipment volumes - as very positive," emphasizes the terminal's General Director Lars Pantzlaff. Furthermore, it must be considered that the contract with foreign investor - the international oil and gas company Vitol Group - guarantees largely regular income to Ventspils nafta terminals Ltd in cases when the previously planned transshipment tonnage is not reached.

Ventspils nafta terminals  Ltd ensures stable transshipment volumes - more than 10 million tons of crude oil and petroleum products yearly - since 2007 when the company resumed receiving diesel fuel from petroleum products pipeline and started valuable cooperation with JSC Ventspils nafta and Vitol Group, which is a co-owner of and Ventspils nafta terminals Ltd. The company is currently continuing to strengthen its positions as the most modern crude oil and petroleum products transshipment complex in the Baltic region, by running its operations in the same way as all other companies under the Vitol Group around the world.

SIA Ventspils nafta terminals td is a subsidiary of AS Ventspils nafta. 51% of it belongs to AS Ventspils nafta while 49% are owned by the Vitol company Euromin Holdings (Cyprus) Limited. The terminal renders transit services: reception of oil and diesel fuel via pipelines, as well as reception, storage and transshipment of diesel fuel, motor gasoline and other petroleum products delivered by railway and sea.

SIA Ventspils nafta terminals is the largest of such companies in the region, and its crude oil and petroleum products shore-tank farm reaches 1.2 million cubic meters and has no analogues among similar companies in the nearest countries.