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
On 22 of June this year, the board of the newly established company of AB Bank SNORAS - UAB “SNORO Media Investicijos” - made a decision to invest in the shares of UAB “Lietuvos rytas” and to acquire 34 per cent of the authorised capital of the company.
more »
The Banker's Exchange is joining forces with Chicago-based Intergam Logistics as part of a global expansion initiative into the ATM support market.
more »
Lisbon treaty and financial supervision dominate debate at EU summit.
more »
In the most sweeping financial reform proposal since the Great Depression, President Barack Obama unveiled plans to overhaul the U.S. financial regulatory system, saying the events that led to the U.S. financial crisis make the proposed changes necessary.
more »
Due to the rising concerns on a possible disruption of Russian gas supplies to Europe coming through Ukraine, the Commission has chaired a meeting of the Gas Coordination Group to assure a stronger EU coordination and to secure energy supplies to European citizens.
more »
Mexico signs an agreement with Google to help revive tourism at its historical sites, after the swine flu epidemic.
more »
The recession could hit working women harder than men, an EU study warns, underscoring persistent disparities between the sexes in the European labour market.
more »
The first 4 months of 2009 saw 25 percent more FBI background checks on prospective firearm buyers compared to the same period last year in US.
more »
AS “Latvijas Krājbanka”, managed by AB Bank SNORAS, was presented with the annual prize of Deutsche Bank AG, one of the largest European banks, for the excellent quality of the outgoing payments.
more »
Danske Bankas has made another increase in the interest rate for fixed-term deposits in litas for both private and corporate clients.
more »