International Internet Magazine. Baltic States news & analytics
Saturday, 25.10.2014, 10:46
EBITDA LIFO result of Orlen Lietuva in the third quarter of 2014 amounted to USD 54 million and was higher by USD 58 million (year-on-year), supported by favourable macroeconomic environment in this period, informs LETA/ELTA.
Keyword tags: Energy, Good for Business, Lithuania, Oil, Transport
Estonian Prime Minister Taavi Rõivas said in the parliament information hour on Wednesday that the main challenge of the oil shale industry is still the price of oil and Estonia cannot unfortunately influence that with environmental fees, LETA/Public Broadcasting reports.
During the Russian Energy Ministry's October 6 discussion on increasing the oil product transshipment amounts at Russian ports, Russian oil pipeline company Transneft suggested that this could be done at the expense of Latvian ports, business newspaper "Vedomosti" reports, cites LETA.
Polski Koncern Naftowy ORLEN S.A. (PKN ORLEN) hereby informs that on 13 October 2014 it signed a spot agreement with Glencore Energy UK Ltd, London, United Kingdom (Glencore) for delivery of crude oil to AB ORLEN Lietuva (ORLEN Lietuva), reports LETA/ELTA.
The preliminary sales revenues of Klaipedos Nafta for September 2014 comprise LTL 8.2 million (EUR 2.4 million) that are lower by 11.8 % compared to the sales revenues for September 2013 (i.e. LTL 9.3 million/EUR 2.7 million), reports LETA/ELTA.
One of the key energy and commodity trading companies in the world, Ventspils nafta (Ventspils Oil) biggest shareholder Vitol has opened representative office in the Baltic states that is located in Riga, as the company informed Nozare.lv, cites LETA.
Half-year net profit of JSC Ventspils Nafta and its subsidiaries (the Group) in 2014 reached 4.35 million euro. Revenue of the Group is made of income from the shipping business – 34.5 million euro and income from transshipment, storage and transportation of petroleum products – 54.5 million euro, informed BC communication consultant at JSC Ventspils Nafta Elina Dobulane.