Emitents | Ventspils nafta, AS |
Veids | Citi |
Valoda | EN |
Statuss | Publicēts |
Versija | |
Datums | 2012-08-10 11:07:52 |
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Today the Chamber of Civil Cases of the Supreme Court annulled the oil seizure for 109 thousand tons of oil in the pipeline Polotsk-Ventspils, which is owned by LatRosTrans Ltd (LRT). This court ruling is non-appealable. “I am glad that after a break of nearly two years, which was
caused by the arrest of the technological oil, we will be able to
again continue the commenced conservation of the oil pipeline, thus
liquidating any ecological risks, and the company will be able to
restructure its operation in accordance with the current market
situation,” the Head of LRT Igors Stepanovs marks out the company’s
future plans. Actions to prepare for extraction of the oil and to
cleanse the pipeline will be taken up in the nearest time.
Brief history of the case
The technological oil in the LRT pipeline was arrested on
December 7, 2010 as a claim securing in the claim of the
Byelorussian company Polotsktransneft Druzhba against LRT on
ownership rights to the technological oil. On December 9, 2011 the
Latgale Regional Court rejected this claim, but since the
Byelorussian company appealed the court judgment – the seizure of
the technological oil remained in force.
Although the court ruling on seizure of the oil was effective
for one and a half year, the Byelorussian party never implemented
it. According to the effective legislation – the court ruling on
seizure shall be submitted for enforcement and a sworn bailiff
shall take the required actions to seize the property. The
Byelorussian company ignored this Latvian legal procedure all the
time.
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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