JSC  "Ventspils nafta" oil and petroleum product transhipment volume in

the  first nine months of 2003 is 9.1 million tons: 4.8 million tons is

diesel  oil,  2.6  million - oil transported by rail, and 1.7 million -

other products, mainly gasoline.



Total  volume  transhipped  by  rail  has  increased  by  143% over the

respective  period  in  2002.  The volume of transhipped diesel oil has

increased by 74.6%, whereas the volume of other petroleum products - by

70.4%.  The  increase  is  owing  to the company effort to increase the

volumes  delivered  by  rail: since January, the monthly average is 0.3

million tons.



During  the  third quarter of the year the total transhipment volume of

JSC  "Ventspils  nafta"  was  2.6 million tons (2.5 million in the same

period of 2002).



The  performance  in September was affected by the high export level of

oil and petroleum products form Russia and Byelorussia. Another element

likely to have an impact on the market is an introduction of 12% export

tariffs  in  Russia  (since  September  15,  2003) on oil and petroleum

products transhipped in private railway tanks till the border.



As   reported   earlier,   starting  with  October  1,  2003,  the  oil

transhipment  business  has been transferred from JSC "Ventspils nafta"

to its 100% daughter company SIA "Ventspils naftas termināls".