OREANDA-NEWS. October 10, 2008. In the nine months of 2008, the crude oil and petroleum products transshipment company Ventspils nafta terminals Ltd, which is a JSC Ventspils nafta subsidiary, has transshipped more than 9 million tons of crude oil and petroleum products, thereby ensuring 46.1% of the entire total amount of cargos transshipped at the Ventspils Port. Ventspils nafta terminals Ltd has been able to reach such results despite the repair works of the main petroleum products pipeline Polotsk-Ventspils commenced in the territory of Belarus. Improvement of the technical condition of the pipeline will help in reducing ecological risks, yet at the same time, the repair works have affected the transshipment results of the terminal during the lasts months. The market situation and global processes in the world’s economics have also had affect on the terminal’s transshipment results.

In the period of January-September in 2008, the transshipment volumes of Ventspils nafta terminals Ltd have exceeded 9 million tons, which is a million tons less than during an analogue period in 2007, yet it is 4.6 million tons more than in 2006 when the international investor Vitol Group was not yet attracted to the JSC Ventspils nafta Group and service of petroleum products pipeline was not renewed.

The structure of the total amount of cargos transshipped by Ventspils nafta terminals Ltd in the nine months of this years is formed by 7 million tons of diesel fuel delivered by rail and via petroleum products pipeline, 1.3 million tons of gasoline and other petroleum products transported by rail and 0.8 million tons of crude oil and petroleum product cargos delivered by sea.

 “Ventspils nafta terminals Ltd positively evaluates the petroleum product pipeline repair works commenced in Belarus, as we remember the incidents that have happened before causing ecologically negative consequences also to the environment of Latvia due to the poor technical condition of particular sections of the pipeline in the territory of Belarus. Of course, the repair works affect the transshipment results of Ventspils nafta terminals Ltd, yet we hope that the ecological risks will be largely reduced in Latvia after the repair works are finished,” says the General Director of Ventspils nafta terminals Ltd Ronald Okker.

He admits that both global and local processes in the area of transit business and the whole economics in general have affected also Ventspils nafta terminals Ltd. However, the work of the terminal in the complicated economic conditions is to great extent relieved by the fact that the contract with the foreign investor – Vitol Group Company – guarantees regular income in cases when the previously planned transshipment tonnage is not reached.

In parallel with ensuring stable transshipment volumes, Ventspils nafta terminals Ltd modernization is implemented, by planning optimization of working processes and procedures, investments into technologies, as well as increase in workforce efficiency and introduction of higher investments in relation to environment protection. That means higher competitiveness of the company in Europe and globally, aiming at strengthening the positions of Ventspils nafta terminals Ltd as the most modern crude oil and petroleum products transshipment complex in the Baltic region.

Cargo amount at Ventspils nafta terminals has increased gradually since 2007, when the company resumed receiving diesel fuel from petroleum products pipeline and started valuable cooperation with JSC Ventspils nafta and the company of international oil and gas consortium Vitol Group, which is a co-owner of and Ventspils nafta terminals Ltd.