| Emitents | Ventspils nafta, AS |
| Veids | Citi |
| Valoda | EN |
| Statuss | Publicēts |
| Versija | |
| Datums | 2011-12-09 12:03:41 |
| Versijas komentārs | |
| Teksts |
Today the Latgale Regional Court (in Rēzekne) passed a judgment to completely reject the claim of “Polotsktransneft Druzhba” against LatRosTrans (LRT) on ownership rights to the technological oil in the oil pipelines of LRT. Today the court also cancelled the previously applied claim
securing for the part of the technological oil that is in the oil
pipeline owned by LRT. Therefore, LRT no more has any restrictions
to handle this oil. In turn the 40 thousand tons of technological
oil that was pumped out from the oil pipeline by LRT more than a
year ago, performing its cleansing and conservation in line with
the latest technologies, was never seized.
The manager of LRT Igors Stepanovs expresses satisfaction on
the court judgment, emphasizing that a different solution was not
possible at all. “I am certain that this court judgment will
finally put an end to the doubts whether we are the actual owners
of this technological oil. Now LRT can continue the commenced
conservation of the oil pipeline, eliminating any ecological risks,
and the company will be able to restructure its activity in
accordance with the present market situation”, Stepanovs
explains.
Brief history of the case
The Byelorussian company “Polotsktransneft Druzhba”
unexpectedly filed a claim in court a year ago, holding a view that
the technological oil in the amount of 150 thousand tons in the oil
pipelines of LatRosTrans belongs to them. The Byelorussian party
tried to hold back reviewing the case in court on the merits, to
politicize it, as well as changed its explanation several times as
to how “Polotsktransneft Druzhba” has as if obtained ownership
rights to the technological oil that has been in the oil pipelines
of the Latvian-Russian joint venture LatRosTrans Ltd for nearly 20
years.
On December 7, 2010, the court secured the claim of the
Byelorussian company “Polotsktransneft Druzhba”, prohibiting LRT to
use and/or utilize the technological oil in the oil pipeline
Polotsk-Ventspils owned by LatRosTrans in the territory of the
Republic of Latvia. At the same time, the court declined the
request of the Byelorussian company “Polotsktransneft Druzhba” to
seize also the 40 thousand tons of oil that was already pumped out
from the pipeline Polotsk-Ventspils, considering that there are no
grounds to seize this oil.
About LatRosTrans
LatRosTrans Ltd owns two oil pipelines in the territory of
the Republic of Latvia – Polotsk-Mazeikiai and Polotsk-Ventspils,
and oil in these pipelines has not been pumped for the last years.
In turn the petroleum product pipeline Polotsk-Ventspils currently
actively provides transport of diesel.
LatRosTrans Ltd is the largest
Latvian-Russian joint venture in the Baltic States. The Russian
partner – joint stock company Transnefteprodukt (subsidiary of
Transneft) owns 34% of the company’s shares, while 66% of the
shares are owned by joint stock company Ventspils nafta
(NASDAQ OMX RIGA: VNF1R).
Ilze Nagla
Public Relations Manager
JSC Ventspils nafta
Tel.: +371-29267454, +371-67715914
E-mail: ilze.nagla@vnafta.lv
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