Vitol Group purchases 49% of Ventspils naftas terminаls

Oil-and-gas concern Vitol Group purchases 49% of Ventspils naftas terminаls (VNT) for $90 million from Ventspils nafta (VN), RZD-Partner reports. According to the agreement the payment is to be made within 10.  The company in its turn guarantees cargo supply to the terminal or financial compensation in case of insufficient loading. According to Olga Petersone Chairman of VN BOD "this agreement with Vitol Group confirms that technical and technological possibilities as well as manpower resources and development potential of VNT are highly appreciated. We are satisfied with the agreement as considering the changes at the energy market the terminal will ensure successful activities of the company including stable revenues and work places. And this is the most important aspect of the deal. The release also says VNT owners continue the search for a strategic investor.a