The Supervisory Council of the public joint stock company Ventspils nafta has re-elected Boris Bednov in the position of Management Board member for the next three years, his new term of office starts on April 28, 2013.

Boris Bednov has worked as a member of the Management Board of JSC Ventspils Nafta since April 28, 2010. He is an oil and transit industry professional – he began his career in 1982 as a Refinery Engineer. Since 1993 he has been working as Oil Trader. He has been the Head of the Lithuanian office of Vitol since 1996. He has graduated the D. Mendeleyev University of Chemical Technology in Russia. Boris Bednov does not possess any JSC Ventspils nafta shares.

About JSC Ventspils nafta

JSC Ventspils nafta is one of the largest groups of companies in Latvia and works in the petroleum product transport, transhipment, storage and shipping sector. JSC Ventspils nafta is the Group’s parent company, which manages investments in subsidiary companies, by promoting the Group’s joint values and growth in value of each individual company.

Joint stock company Ventspils nafta owns 51% in Ventspils nafta termināls Ltd, which is the largest crude oil and petroleum product terminal in the Baltics; 66% in LatRosTrans Ltd, which is the largest Latvian-Russian joint venture in the Baltics; 49.94% in JSC Latvijas kuģniecība, which is among the largest ship owners in the world in the medium-sized and handy tankers category.

Shares of JSC Ventspils nafta (NASDAQ OMX RIGA: VNF1R) are quoted in the Baltic Official List of the stock exchange NASDAQ OMX Riga since October 20, 1998.

Ilze Nagla
Public Relations Manager of the Ventspils nafta Group
Tel.: 29267454, 67715914
E-mail: ilze.nagla@vnafta.lv