OREANDA-NEWS. January 11, 2013. Ventspils nafta terminals (VNT), a subsidiary of JSC Ventspils nafta, transshipped 12.02 million tons of oil and oil products in 2012, which marks a throughput increase of 6% compared to 2011 when 11.37 million tons of petroleum products were transshipped. Overall amount of VNT's throughput in 2012 is the biggest during the last five years.

Lars Pantzlaff, General Director of VNT, stresses: “The last year was successful for the company in terms of the amount of products handled. However, the transhipment volume alone is only one indicator of the company's performance. Larger transhipment volumes are important to maximize on our capabilities, yet it is the operational efficiency that makes us successful. However, a stable and steady growth in throughput volume is a good result, especially in the context of ongoing global economic uncertainties. We are pleased that we remained an important part of the logistics chain in Latvia in 2012, contributing significantly directly and indirectly to businesses and employment in Latvia, local taxes, and performance of the ports.”

Pantzlaff explains that future development of oil product and fuel market in 2013 will be affected both by the global economic situation and by international and regional politics which means that it will continue to be rather unpredictable and volatile.

Despite these uncertainties and in order to further improve its operating infrastructure and efficiency, during the last year VNT has invested more than LVL 6 million in the modernization of the terminal, a trend that will be continued also in 2013.