Turnover of Ventspils Nafta Terminals decreased by 21% in 2016

Ventspils Nafta TerminalsThe turnover of the largest petroleum terminal in Latvia, Ventspils Nafta Terminals, which is subsidiary of Ventspils Nafta, decreased by 21% yoy in 2016 and amounted 62.85 million EUR. The terminal’s profit amounted to 13.19 million EUR, which represent a decrease of 5.9% yoy. The petroleum port Ventspils Nafta Terminals handled 6.9 million tons of cargo, compared to 9.2 million tons handled in 2015. In particular, the volume of transshipment of oil products transported by rail and sea amounted to 3.5 million tons, while the oil product through the pipeline amounted to 3.4 million tons.

Last year Ventspils Nafta Terminals continued to actively modernize, optimizing work processes and procedures, increasing labor productivity and ensuring compliance with higher environmental requirements.

“The purpose of the enterprise’s economic activity in 2017 is further continuous profit-making development that ensures the competitiveness of transshipment of oil and oil products on the market, as well as the constant modernization and improvement of the company’s infrastructure, while maintaining high process safety and reducing the adverse impact on the environment”, said the official statement of the Ventspils Nafta Terminals.

Ventspils Nafta Terminals is the largest and most technologically advanced oil and petroleum product transshipment company in the Baltic States. The non-freezing port of Ventspils is the place where this company has been successfully and effectively advancing on an international level. The company is operating as transporting and storing petroleum products from Russia and other CIS states and loading them onto tankers from international destinations.