Energy, EU – Baltic States, Good for Business, Latvia, Oil, Transport

Last year, Orlen Latvija generated the bulk of its revenue in Latvia, while a fraction of the 2017 revenue was made in Estonia.

In 2017, the company’s revenue from selling finished products (including excise tax and oil product reserve duty) came to EUR 505.326 million. In 2017, Orlen Latvija paid EUR 44.111 million in excise tax and EUR 1.05 million in oil product reserve duty. The company’s revenue from provision of services totaled EUR 804,940 in 2017.

The company's management said in the report that in 2018 Orlen Latvija intends to develop its sales system, delivering oil products as close to the consumer as possible, namely to terminals, offering at the same time to deliver the oil products to the clients' own storage facilities.

The management is also planning to ensure a price policy that would facilitate the consumers' direct cooperation with Orlen Latvija without using wholesalers as intermediaries.

In 2016, Orlen Latvija turned over EUR 356.054 million and earned a profit of EUR 1.815 million.

Orlen Latvija, registered in July 2003, has a share capital of EUR 284,400. The company is fully owned by Lithuanian fuel wholesaler Mazeikiu Naftos Prekybos Namai.