The joint-stock company Ventspils nafta's (Ventspils Oil, VN) subsidiary Ventspils nafta terminals (VNT) will pay LVL 1.3 million in dividends, as VN public relations manager Gundega Varpa informed BC.
This sum represents LVL 1.12 million in profits in 2008, as well as undistributed profits from previous years.
It is the first time since VNT was established in 2003 that it is paying dividends to its owners. VN holds 51% of capital shares in VNT, and it will receive nearly LVL 700,000 in dividends.
VNT handled 11.6 million tons of crude oil and oil products in 2008, and 3.8 million in the first quarter this year.
51% of VNT capital belongs to VN, and 49% to Euromin Holdings Limited, which is part of the Vitol Group. The terminal provides transit services, accepting oil and diesel fuel via pipeline, as well as diesel fuel, petrol and other petroleum products by rail and by sea. The terminal also provides for the storage and transshipment of those products.