OREANDA-NEWS. In the first quarter of 2016 JSC “Ventspils nafta’s” subsidiary ““nafta” terminals” Ltd transhipped 2.7 million tons of petroleum products in turn “LatRosTrans” Ltd transported 1.6 million tons.

Management of the JSC “Ventspils nafta” Group companies points out that the transported volumes are consistent with previous predictions. “Since the economic environment within the Baltic States is challenging, the Group remains cautious about petroleum product transportation volumes that can be reached this year. We continue optimising costs to compete in the current economic environment. However, to ensure an investment favourable business environment in Latvia, more support is necessary from institutions regulating the transport sector, for example, by issuing permits necessary for development of operations,” says Robert Kirkup, the Chairman of the Management Board of JSC “Ventspils nafta”.

““Ventspils nafta” terminals” Ltd transhipped 993 thousand tons in March, in turn “LatRosTrans” Ltd transported 547 thousand tons of petroleum products, reaching historic transportation volumes. Since 1994, “LatRosTrans” Ltd has transported over 100 000 000 tons of petroleum products of Russian and Byelorussian producers via the pipeline system in the territory of the Republic of Latvia to the Ventspils port.