OREANDA-NEWS. The Supervisory Council of JSC Ventspils nafta (NASDAQ OMX RIGA: VNF1R) has re-elected Aleksej Tarasov as the company's Management Board member for a period of three years. He has worked as a member of the company's Management Board since January 2011. His new term of office starts on June 26, 2013. Both other Management Board members - Simon Boddy and Boris Bednov - had also already previously been re-elected for a period of three years.

In turn the Company's Supervisory Council, which was elected for a period of three years by the shareholders' meeting on July 25 last year, will continue working in incomplete composition. Olafs Berkis has resigned from the position of Supervisory Council member, therefore the Supervisory Council will continue working in composition of 10 members. Members of the Supervisory Council do not receive remuneration for their work in the Supervisory Council. According to the Articles of Association of JSC Ventspils nafta, there must be at least 6 members in the company's Supervisory Council.

The Chairman of the Ventspils nafta Supervisory Council is Vladimir Egger, he chairs the company's Supervisory Council already since 2010 and has almost 30 years of professional experience in the field of commodities trading in international markets. The Deputy Chairman of the Supervisory Council is Mikhail Dvorak, he is the Financial Controller of Vitol Group and Finance Director at Vitol Group's companies in the CIS countries.