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International Internet Magazine. Baltic States news & analytics Tuesday, 16.07.2019, 23:55

Lithuania: Klaipedos Nafta's revenue up 11.9% to EUR 49.7 mln

BC, Vilnius, 10.06.2019.Print version
Lithuania's state-run oil and LNG terminal operator Klaipedos Nafta (Klaipeda Oil) posted 49.7 mln euros in revenue in the first five months of this year, up 11.9% from 44.4 mln euros a year ago, reported LETA/BNS.

In May alone, its revenue inched down 1.2% to 8.5 mln euros, the company announced its preliminary results via the Nasdaq Vilnius Stock Exchange.

In May Klaipedos Nafta reloaded 0.446 mln tons of petroleum products at Klaipeda and Subacius oil terminals, down 30% from 0.637 mln tons a year ago. During the first five months of 2019, the company in total reloaded 2.420 mln tons of petroleum products into its storage tanks, down 21.4% from 3.078 mln tons.

"The results in May were mostly influenced by the Druzhba pipeline incidents, which contributed significantly to the decline in oil product transit and had an impact on the results of oil product handling," the company said in a statement.

The overall drop in loading volumes during the five months were also affected by lower quantities from ORLEN Lietuva oil refinery and by lower transshipment quantities of heavy oil products transit during the first quarter of this year, the company added.

In May, the company's LNG terminals re-gasified and reloaded 1,774 thousand MWh of natural gas. During the first five months, the company in total re-gasified and reloaded 3,989 thousand MWh of natural gas.

The State of Lithuania owns 72.32% of Klaipedos Nafta, and 10.41 % belong to the Achemos Grupe business group.

Klaipedos Nafta's shares are quoted on the Nasdaq Vilnius Stock Exchange's Main List.


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