Energy, Good for Business, Latvia, Oil, Transport

In the first half of 2011, the company transshipped 5.987 tons of oil products. 66.5% of the transshipped volumes came by rail, 32.3% through pipelines and 1.2% by sea, writes LETA.

Vitol Group (Vitol), the largest owner of Ventspils nafta, Corporate Affairs Director Mark Ware told Nozare.lv that VNT has made brilliant progress in terms of costs, investments and efficiency. Its terminal capacity has grown considerably. VNT operated with a profit in 2011, and hopefully the company's profit will further increase in 2012. So far, VNT capacity has shown excellent results, said Ware.

VNT provides transit services – receipt, storage and loading of crude oil and petroleum products via pipelines, rail tank-cars and tankers. The company's total tank storage capacity is at 1.2 million cubic meters.

51% of VNT is owned by the joint-stock company Ventspils nafta, which is the group's parent company, managing investments into its companies, promoting the group's joint values and growth in the value of each individual company.