Russian oil company LUKoil announced that it intends to cut oil product exports through Baltic ports and route them through a new oil terminal under construction on the Gulf of Finland
Published:
13 July 2002 y., Saturday
LUKoil officials said they plan to cut all Baltic exports by 2004, when the $235 million refined oil products terminal in Vysotsk is expected to begin operations, thus allowing it to export all its oil products directly from Russian territory.
The news could spell trouble for the Latvian oil shipping firm Ventspils Nafta. LUKoil is one of the largest exporters of crude oil through the Ventspils Nafta's port in Ventspils.
The Russian oil giant is not, however, a major exporter of other oil products via Latvia.But Ventspils Nafta officials brushed off the news.
Last year the Russian oil company comprised 11 percent of all crude reloaded by Ventspils Nafta.
Haim Kogan, director of LUKoil's Baltic arm, said earlier this year that the company plans to export 1.2 million to 1.5 million tons of oil and up to 600,000 tons of oil products via Latvia.
Šaltinis:
The Baltic Times
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
A specific EU budget line for the new EU stabilisation mechanism should be created as soon as possible, to ensure its credibility, Council, Commission and Parliament negotiators agreed at a three-way meeting on Wednesday.
more »
New EU rule will help phone-users avoid astronomical bills for web-surfing and downloads abroad.
more »
The Communication approved today by the Commission builds on the principles presented on 12 May to reinforce the economic governance in the European Union.
more »
Eurostat report just published shows that the crisis has brought some lower taxes.
more »
New legislation is needed to ensure fair returns to farmers and transparent prices to consumers, by enforcing fair competition throughout the food supply chain, said Agriculture Committee MEPs on Monday.
more »
Fish imports play a crucial role in supplying the European market, yet fisheries and aquaculture are strategic sectors that do not lend themselves to a purely free-trade approach, believes the EP Fisheries Committee.
more »
I will support every proposal that strengthens cooperation among the European Union's Member States and serves Lithuania's interests," President of the Republic of Lithuania Dalia Grybauskaitė said at the meeting with EU Member States' ambassadors resident in Lithuania.
more »
The fourth World Lithuanian Economic Forum “High tech innovation & investment: local to global” will start in London on 22 June.
more »
Lithuania aims for the five Nordic countries and three Baltic States to become single community of values, which would be linked by a versatile quality of democracy, security and everyday life.
more »
MEPs decided on Wednesday to create a special committee to prepare for the EU's next long-term budgetary framework.
more »