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
Women in the EU earn on average 18% less than men - a gap that has scarcely narrowed over the last 15 years and in some countries has even grown.
more »
43 gas and electricity projects to split €2.3bn, the most the EU has ever spent on energy infrastructure in a single package.
more »
Georgia and the European Union have initialled a comprehensive air services agreement at a meeting in Tbilisi, Georgia, today which will open up and integrate the respective markets, strengthen cooperation and offer new opportunities for consumers and operators.
more »
In order to vitalize and strengthen cooperation of business stakeholders in the region, the Nordic and Baltic countries continue running joint mobility programme.
more »
The EBRD is boosting the availability of financing to the real economy sector in Serbia, with a €20 million credit line to Société Générale Serbia for on-lending to small and medium enterprises.
more »
The EBRD is supporting the development of the private sector in Armenia and increases further the availability of financing in the real economy sector with a $10 million loan to Ameriabank for on lending to local companies under its Medium Sized Co-financing Facility (MCFF).
more »
The EBRD is supporting the modernisation and improvement of transport infrastructure in Albania with a €50 million sovereign loan to finance the rehabilitation of regional and local roads in the country.
more »
Given the deep impact Latvia has suffered in the wake of the global crisis, and due to the emergency nature of this program, the first operation will focus mainly on the first and second objectives.
more »
Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), will visit Africa March 7-11, to discuss opportunities and challenges facing African economies in the wake of the global crisis.
more »
Without enough money, the EU 2020 strategy risks turning into "another vague scoreboard for the Member States", the EP Budgets Committee warned on Thursday when adopting its priorities for the 2011 budget.
more »