Ventspils nafta                                               13.06.2005



SIA "Ventspils nafta termināls" Handling Results in May 2005



In May 2005 SIA Ventspils nafta termināls – the daughter company of the

joint stock company Ventspils nafta – handled more than 0.6 million tonnes

of petroleum products delivered by rail road. As forecasted earlier, due to

the high and for Latvia’s direction unfavourable rail road tariff set for

crude oil export by Russian government authorities, including also high duty

imposed on crude oil export, this May no crude oil had been handled by SIA

Ventspils nafta termināls.



This year’s trend is still obvious – motor gasoline of various grade

(76, 80, 92, 95) is the most handled product of the total volume of petroleum

products handled by SIA Ventspils nafta termināls and its transhipment is all

time high each month since the beginning of  2005. In May gasoline

transhipment volume was over 0.3 million tonnes. This high level of gasoline

transhipment could be explained by a unique service offered by SIA Ventspils

nafta termināls within the Baltic region to their customers – loading of

gasoline into larger vessels up to 100,000 tonnes and providing thus an

effective and cost-efficient form of gasoline’s further transportation.



In May SIA Ventspils nafta termināls handled also 0.3 million tonnes of gas

oil. There were no deliveries of crude oil to the terminal in May 2005 due to

the high rail road tariff and crude oil export duty imposed by Russia. Since

April 1st, 2005 Russia’s crude oil export duty has been US$102.6 per tonne;

and, since June 1st it has already increased toUS$132.2 per tonne. It also

concerns light petroleum products like motor gasoline and gas oil that have

been transhipped by SIA Ventspils nafta termināls – on June 27th, 2005 the

current export duty in the amount of US$81.4 per tonne will be increased to

US$104 per tonne.



A/s Ventspils nafta

Detailed information –

Gundega Vārpa,

tel. 7229793; 

e-mail: gundega.varpa@vnafta.lv