International Internet Magazine. Baltic States news & analytics
Friday, 29.04.2016, 02:51
Analysts at SEB Bankas, Lithuania's largest commercial bank by assets, expect that a decline in the global oil supply will keep crude prices more stable this year and forecast that the average oil price in 2016 will stay above 40 US dollars per barrel, informs LETA/BNS.
Austria's AMIC Energy Management has taken over the chain of filling stations in Lithuania operated by the Russian oil concern Lukoil, informs LETA/BNS.
Sales revenue of the Estonian fuel seller Alexela Oil in the first quarter of 2016 was 1% bigger than the year before, totaling 25 million euros, and the company's profit was 1 million euros, informs LETA/BNS.
Polish-owned Lithuanian oil company Orlen Lietuva posted a net profit of 44.8 million euros (USD 51 mln) for the first three months of the year 2016, up 9% from 41.3 million euros (USD 47 mln) a year earlier, informs LETA/BNS.
Rail transit traffic volumes from Russia on the tracks of Estonian Railways have increased somewhat in the past week, yet further growth requires significantly more serious and also broader dialogue with Moscow, Sulev Loo, CEO of Estonian Railways (Eesti Raudtee), says, cites LETA/BNS.
The reasons behind the reduction in rail transit traffic between Estonia and Russia are not political but economic, Russian Transport Minister Maksim Sokolov has said, cites LETA/BNS.
QLS AS, the only authorized dealer and distributor of Chevron Corporation TEXACO Lubricants in the Baltic States acquired 100 percent of stock of lubricant oil provider OIL TRADING Estonia. The united company plans to strengthen export and restore sales to maritime industries.