Energy, EU – Baltic States, Latvia, Oil, Transport

Ventspils nafta consultant Elina Dobulane told LETA that Ventspils nafta has been informed by Euromin Holdings (Cyprus) Limited, which currently owns almost 50% of Ventspils nafta shares, that Euromin Holdings (Cyprus) Limited is in discussions with LNT to acquire LNT's 43.25% stake in Ventspils nafta.

Euromin Holdings (Cyprus) Limited is the largest Ventspils nafta shareholder with 49.98% of the stock. LNT, a subsidiary of the Ventbunkers oil product transshipment terminal, is the second largest Ventspils nafta shareholder with 43.25% of the stock.

As reported, Ventspils nafta and its subsidiaries operated with EUR 21.22 million in profit in the first half of the year. The company also reported that consolidated income in January-June rose 7.6% to EUR 95.66 million, and gross profit increased 21.7% to EUR 27.58 million.