M.Vaivads,   Chairman  of  JSC  "Ventspils  nafta"  Supervisory  Board,

forecasts  a  small profit in 2004. Since Supervisory Board has not yet

reviewed  the  budget  and  operational  plan  for 2004, no figures are

specified as yet.



According  to  M.Vaivads,  the  projected  oil  and  petroleum  product

transhipment volume in daughter company SIA "Ventspils nafta termināls"

is  about  1 million tons. According to present assessments, all cargos

are expected to come in by rail.



Ventspils Nafta, JSC

For more information please contact:

Ms.Gundega Vārpa

Phone: 371 7229793

e-mail: vnafta@mailbox.riga.lv