Ventspils nafta                                                 05.11.2004.



7.3 Million Tonnes of Crude Oil and Petroleum Products Have Been Handled by 

Ventspils Nafta Termināls in This Year





From January to October 2004 the Ventspils Nafta Termināls, Ltd., daughter 

company of the Ventspils Nafta handled altogether 7.3 million tonnes of crude 

oil and petroleum products, including 3.2 million tonnes of gas oil, 2 million 

tonnes of crude oil as well as 2.1 million tonnes of motor gasoline of various 

grades.



Nearly all the volumes of crude oil and petroleum products are delivered to the 

terminal by railway except a small volume of crude oil that is received by the 

terminal from the sea.



In October 2004 the Ventspils Nafta Termināls, Ltd. handled 0.3 million tonnes 

of petroleum products, among them 0.2 million tonnes of gas oil and 0.1 million 

tonnes of motor gasoline.



Having been influenced by the market situation and waiting for the market prices 

to reach their desirable level, some owners of petroleum products’ cargoes stored 

in October the part of the railroad deliveries of gas oil and motor gasoline in the 

tanks of the Ventspils Nafta Termināls, Ltd., without selling them any further, 

therefore the cargoes above did not show up in the October results of the Ventspils 

Nafta Termināls’. However, already in November some part of these products has been 

handled and shipped to be sold.



Considering the decrease of the total crude oil volume exported from Russia by rail 

road as well as the unchanged high level of prices for crude oil on the Russian 

domestic market that has enabled the crude oil’ owners to obtain profit without 

exporting, there were no crude oil deliveries to the Ventspils Nafta Termināls, 

Ltd. in October. This fact is also directly connected to the high crude oil export 

duty imposed by Russia and is making up of  87.9 US$ per tonne at the moment.



It is estimated that the crude oil export duty in Russia will continue to grow, 

affecting thus the rail road export deliveries of crude oil, including its deliveries 

to Ventspils. Judging by the information available to the public, there is a 

possibility assumed that already in December 2004 the Russian crude oil export duty 

might significantly increase once again even up to 101 US$ per tonne.