International Internet Magazine. Baltic States news & analytics
Sunday, 02.08.2015, 23:21
The Lithuanian subsidiary of the Polish oil company PKN Orlen – Orlen Lietuva, has been able to increase its productions capacity in the second quarter of the year 2015 to 86%, but in June the company's production capacity reached 92%, the company informed LETA.
Orlen Lietuva benefits from restructuration and very favorable macroeconomical conditions in Q2 of 2015. Production capacity utlilization reached 86% (reaching 92% in June, which was the highest level since two years), informed BC company’s press service.
Estonian Enterprise Minister Urve Palo said that the recently reached Iranian agreement can benefit Estonia's foodstuff industry and the IT sector, while most likely, the price of shale oil produced by Eesti Energia and VKG will drop together with the price of oil, LETA/Delfi reports.
According to the Latvian political scientist Karlis Dauksts, the Iran nuclear deal reached today could help alleviate talks between the European Union and Russia on gas and oil supplies, reports LETA.
In the first six months of the year 2015, the amount of oil products transshipped and transported by joint-stock company Ventspils nafta subsidiary companies has decreased slightly, according to the company's financial report submitted to the ''Nasdaq'' Riga Stock Exchange, cites LETA.
Estonia's state-owned energy giant Eesti Energia will make redundant nearly 200 miners by the end of the year 2015 since the demand for oil shale has fallen due to low prices of shale oil and electricity, Põhjarannik newspaper writes, cites LETA.
North East Estonian town Kohtla-Järve's largest employer Viru Keemia Grupp (VKG) re-launched on July 2nd one of the shale oil factories that were stopped in December 2014; the launch was possible thanks to parliament's recent decision to allow using unused mining quotas, LETA/Public Broadcasting reports.