Today,  on October 30, JSC "Ventspils nafta" Supervisory Board reviewed

the  company  financial  statements for 9 months of 2003. Company sales

reached  LVL  18.2  million,  whereas the after-tax profit was LVL 33.8

thousand.



The  performance  in  the first nine months of 2003 was affected by the

operations of terminals, where 9.1 million tons of oil and oil products

were  reloaded - 2.6 million tons less than in the respective period of

2002.



At  the  same time, the volume of transhipped oil products delivered by

rail  has  increased,  and  in the first 9 months of 2003 is 86% of the

entire  2002 volume. Diesel oil transhipment in 2003 has increased by 1

million  tons  or 27.7%, gasoline by 0.6 million tons or 48.3% relative

to volumes in January -September 2002.



Jānis  Blaževičs,  Deputy  Chairman  of  "Ventspils  nafta" Supervisory

Board,  notes  that the increase of market share in transhipment of oil

products delivered by rail is the result of succesful co-operation with

Russian  partners.  This  is  why  "Ventspils nafta" performance in the

first nine months of 2003 deserves a positive assessment.