International Internet Magazine. Baltic States news & analytics
Sunday, 31.07.2016, 01:34
Polish-owned Lithuanian oil company Orlen Lietuva said on July 21st that its first-half net profit in 2016 dropped by 12% year-on-year to 128 million US dollars (EUR 116.23 mln), attributing the decline to lower market and refining margins, reported LETA/BNS.
Talks between the Polish-owned oil company Orlen Lietuva and the state railway company Lietuvos Gelezinkeliai (Lithuanian Railways, or LG) on railway tariffs, which broke down in May, will be resumed, Prime Minister Algirdas Butkevicius said LETA/BNS on Monday.
Lotos Geonafta, Lithuania's oil production and exploration company that is part of Poland's Lotos Group, in 2015 saw its consolidated revenues fall by 45.8% to 19.16 million euros, from 35.343 million euros in 2014, informs LETA/BNS.
The amount of oil products (fuel) sold in Latvia reached 380,921 tons in the first four months of 2016, which was an increase by 3,860 tons or 1.02% from the same period last year, informs LETA, according to the information provided by the excise goods authority of the Latvian State Revenue Service (VID).
Klaipedos Nafta (Klaipeda Oil) was the top company of the Lithuanian Klaipeda seaport in terms of revenue last year, leaving behind Klasco stevedoring company both by cargo turnover and revenue from sales, informed LETA/BNS, referring to Verslo Zinios.
On June 9, Ventspils nafta terminals Ltd (VNT) ranked in the platinum category in the 2016 Sustainability Index for the second year in a row and for the first time within the Sustainability Index gained the status of “Family friendly company”. At the event “Responsible idea market” the presentation of Ventspils nafta terminals about the initiative “Contractor safety improvement program” received the special award “Responsible business initiative of the year”, reported BC VNT’s press service.
The fuel retailer Olerex sold motor fuels worth 41.4 million euros in the first quarter of the year 2016, compared with a retail volume of 193.6 million euros posted by Olerex and Lukoil for 2015, informs LETA/BNS.