JSC Ventspils nafta will not allow unauthorized construction in the territory of its company

JSC Ventspils nafta has learned from public information, that a Court ruling
has been passed by the Administrative Regional Court on May 28, 2009, which
assigns the Ventspils City Council to issue to joint stock company Ventbunkers
a planning and architecture assignment on construction of sections connecting
diesel fuel pipelines. JSC Ventspils nafta was really shocked to find out that
the court ruling applies to the address where the JSC Ventspils nafta
subsidiary Ventspils nafta termināls Ltd is located, in Ventspils, Talsu Street
75. 

JSC Ventspils nafta assumes that in the intense competition circumstances,
owners of the probably not too successful business might come up with various
irrational ideas. In this case however, some author of this construction idea
has certainly misunderstood something or intended some projects in a scale not
corresponding to reality. The territory at Talsu Street 75, Ventspils, is
leased by the Ventspils Free Port Authority to the crude oil and petroleum
products transshipment company Ventspils nafta termināls Ltd, which has been
historically located there for nearly 50 years. Neither the terminal itself nor
its owners have any plans to allow JSC Ventbunkers to carry out any of
construction works on the land in its use, which is exclusively allocated to
the company for rent for 50 more years. 

JSC Ventspils nafta also has no plans to allow JSC Ventbunkers or anybody else
to make connection as a result of such utopian construction to the diesel fuel
pipeline owned by JSC Ventspils nafta  subsidiary LatRosTrans Ltd, which
reaches Ventspils nafta termināls Ltd at the already mentioned address at Talsu
Street 75, Ventspils. 

In any event, JSC Ventspils nafta will take legal protection measures of its
properties in case if these properties will be endangered by attempts of
unauthorized construction or otherwise. 

JSC Ventspils nafta is the central holding company in a transit-oriented Group
whose task is to manage the investments in subsidiaries by promoting the
Group's joint values and growth in the value of each subsidiary individually.
JSC Ventspils nafta Group is working in the following directions: transshipment
of crude oil and petroleum products; transport of crude oil and petroleum
products by pipelines; shipping business. 






JSC Ventspils nafta
For further information -
Gundega Vārpa,
Public Relations and Advertising Manager, 
tel.: +371 67229182;
e-mail: gundega.varpa@vnafta.lv
www.vnafta.lv
www.vnt.lv
www.latrostrans.lv