Energy, Energy Market, Latvia, Oil
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Friday, 29.03.2024, 06:57
16 bids submitted in tender to create security Latvia`s oil reserve
The Economics Ministry is currently organizing a
negotiations procedure on providing an oil product reserve which Latvia could
use in case of an energy crisis. The total size of the oil reserve that has to
be provided under a two-year contract is 336,440 tons.
The 16 companies competing for the oil reserve contract
include Pirmas, UAB Okseta, Ventbunkers,
Mercuria Energy Trading SA, Hartree Partners (UK) Limited, Circle K Latvia, SIA
Rdz Eneregy, UAB Baltic Petroleum, AB Orlen Lietuva, Orlen Latvija, Vitol SA,
Gunvor SA, Gunvor International B.V., BP Europe SE-BP Nederland, BP Oil
International Limited and Baltimar VT
and Access Recources AG.
Upon assessing the candidates’ compliance with the rules of
the tender, the Economics Ministry will ask the Constitution Protection Bureau
to vet them for compliance with national security requirements. The candidates
that meet the requirements will invited to submit their bids for the second
round of the tender.
In December 2017, the Economics Ministry concluded
agreements with eight companies for EUR 7.9 mln on the storage of Latvia’s oil
reserves.
The contracts were concluded with Pirmas, UAB Okseta, UAB Baltic Petroleum, Circle K Latvia, Ventbunkers,
RDZ Energy, Gunvor SA and Vitol SA.