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
European conference promotes regional solutions to global challenges.
more »
Iceland‘s low-fare airline Iceland Express will launch regular flights by the new-generation „Boeing 737-700“ planes to about 8 different destinations from Vinius International Airport.
more »
Over 3 million people around the world have lost their jobs due to the financial crisis and, according to the UN, economic recovery is unlikely to reach those that have suffered most - poor women and children.
more »
The European Commission has today decided not to raise any objections to the public financing of infrastructure developments at three Lithuanian airports – Vilnius, Kaunas and Palanga International Airports.
more »
The European Commission has published the results of a public consultation launched in June 2009 on whether and how deadlines should be set for the migration of existing national credit transfers and direct debits to the new Single Euro Payments Area (SEPA) payment instruments.
more »
A favourable climate for innovation in the EU can speed up the transition to an eco-efficient economy and increase Europe’s global competitiveness.
more »
The International Monetary Fund (IMF) and the Deutsche Bundesbank have signed an agreement to provide the Fund with up to the equivalent of €15 billion (about US$22 billion).
more »
Today the European Central Bank is publishing a report entitled “Euro Money Market Survey 2009”, which illustrates the main developments in the euro money market in the second quarter of 2009, in comparison with the second quarter of 2008.
more »
New EU laws proposed for closer oversight of financial services industry, sending a strong signal to this week's G20 summit.
more »
The European Commission has repeatedly underlined that the restructuring plan of new Opel Europe must guarantee that the company will be viable in the future.
more »