In September the Chairman of the Management Board of JSC Ventspils Nafta Simon Boddy will be replaced by Robert Kirkup. The decision was passed by the Supervisory Council of Ventspils Nafta and the change will legally take effect on September 1, 2013. Robert Kirkup will replace Simon Boddy on the Supervisory Councils of all Ventspils Nafta subsidiaries.

“We are very pleased to announce that Robert Kirkup has agreed to head up the Ventspils Nafta Group. His previous experience as Vitol’s Global Head of Sugar, managing a team based in 5 locations over 3 continents, clearly shows his expertise as a professional and skilled executive. By appointing Robert Kirkup as CEO of Ventspils Nafta, Vitol continues to demonstrate its long term commitment to its investment in Latvia, which is a very important and integral part of our business. Taking into account also our contractual commitment and the product flow – at any moment in time we have very substantial investments at stake in Latvia”, explains Ian Taylor, CEO and President of Vitol Group, the largest private energy trader in the world.

“I am delighted to take up this position in Ventspils nafta. Over the past three years the whole VN Group has grown tremendously in terms of corporate governance, and the business has strengthened considerably.  My task will be to take this Group of companies to a new level of excellence and to build the business further through the development of our long-term strategy”, says Robert Kirkup.

After leaving Riga, Simon Boddy will take up a position as the Head of Vitol’s office in Dubai in the United Arab Emirates, which is the fourth largest crude oil exporter in the world. He has been Chairman of Ventspils Nafta for more than 3 years. Boddy has over 30 years’ experience in the oil business, during which he has held senior positions in trading, refinery supply and economics.  He was also the Chief Representative in Vitol's Moscow office from 2006 to 2008.

“These have been the most interesting and challenging years of my professional career – taking Ventspils nafta Group from transit wars and legal battles that paralysed and plundered Latvian Shipping Company in 2010, to achieving excellence in corporate governance, as marked by NASDAQ OMX Baltic Market awards for the most visible improvement in investor relations at the beginning of this year. The level of transparency and business processes has been raised to internationally accepted standards and I wish Robert Kirkup all the best in continuing this trend”, comments Simon Boddy.

Photos of Robert Kirkup for media use available here http://www.vnafta.lv/en/news/ventspils-nafta/ventspils-nafta-group-will-be-headed-by-robert-kirkup/

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 and storage, as well as 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.

JSC 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 leading 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

Ventspils nafta Group

Tel.: +371-29267454, +391-67715914

E-mail: ilze.nagla@vnafta.lv

www.vnafta.lv