In 2013 ““Ventspils nafta” terminals” (VNT), subsidiary of JSC “Ventspils nafta” handled 9,64 million tons of oil and oil products.
General Director of VNT, Lars Pantzlaff, states: “2013, especially the second half of the year, has been challenging from the perspective of transhipment volumes due to shifts of product flows in the region based on demand and economics. Though despite those aspects, not directly under the control of VNT, VNT has continued to improve its efficiency of company’s operations leading to good results of the company in 2013. Over the recent years we have operated successfully as a company and as such we also provide a stable anchor to the transit business in Latvia overall.”
Speaking about next year’s perspectives, Pantzlaff indicates that the overall business environment with respect to flows of petroleum products will remain challenging in 2014 and therefore accurate predictions for the full year are hard to make.
Although the transhipment volumes in 2013 decreased by nearly 20% compared to 2012, VNT invested in its terminal infrastructure and processes to continue building a solid foundation for the future performance of the company. Such efforts will also be in the focus in 2014, together with paying attention to environmental protection activities and employee development.
About Ventspils nafta termināls
VNT provides transit services − the receipt of crude oil and petroleum products via pipelines, rail tank cars and tankers, as well as their storage and transhipment. VNT is technologically the most advanced and largest crude oil and petroleum product transhipment company in the Baltics with the total tank storage capacity of 1.2 million cubic meters.
51% of VNT is owned by JSC Ventspils nafta (NASDAQ OMX RIGA: VNF1R), which is one of the largest groups of companies in Latvia. JSC Ventspils nafta is the Group's parent company, which manages investments into the companies within the Group, thus facilitating the growth in the overall value of the Group and its individual companies.
Elīna Dobulāne, communications consultant
JSC Ventspils nafta