Business, Economics, Good for Business, Latvia, Markets and Companies, Oil, Port, Russia

LLC LatRosTrans participated in the Sustainability Index for the second consecutive year in order to evaluate its corporate responsibility and sustainability performance.

“Participation in the Sustainability Index has enabled us to understand our strengths and the areas where we need to improve. During this year we have done much for enhancing our corporate responsibility strategy. The results of the Sustainability Index prove that the experts have positively assessed our performance,” – states Igors Stepanovs, Board Member of LLC LatRosTrans.

The manager of LLC LatRosTrans, as the major corporate responsibility projects implemented this year, mentions investments in the sphere of education, for example, support in organising the Job Shadow Day 2015 and in establishing a secondary school of engineering sciences at the Riga Technical University.

“Thinking about long-term succession of employees and realising that for ensuring daily operations of the company we need engineers, we are investing today in our future employees and supporting the projects that invite and help young people to study engineering sciences,” – explains Igors Stepanovs.

The Sustainability Index is held in Latvia for the sixth consecutive year. The partners of this initiative are the Institute for Corporate Sustainability and Responsibility, the Employers’ Confederation of Latvia and the Free Trade Union Confederation of Latvia.

Information about LatRosTrans

LLC LatRosTrans owns two crude oil pipelines in the territory of the Republic of Latvia – Polotsk-Mazeikiai and Polotsk-Ventspils, which have not been used in recent years for the transit pumping of crude oil. In turn, the Polotsk – Ventspils oil product pipeline is still actively used at present for transportation of diesel fuel.

LLC LatRosTrans is a Latvian-Russian joint venture, in which the Russian partners – Transnefteproduct Joint-Stock Co. (daughter company of JSC АК Transneft) – own 34% of the capital shares, while the joint-stock company Ventspils nafta (NASDAQ OMX RIGA: VNF1R) owns 66% of the capital shares.