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Rudolf Meroni: Litasco is running out of time.

January 18, 2011 / posted in LITASCO, LUKOIL, Ventbunkers / No Comments

Ventbunkers Press Release

Rudolf Meroni: Litasco is running out of time. Ventbunkers will store fuel oil offshore.

Litasco (a subsidiary of LUKOIL) is illegally blocking A/s Ventbunkers’ (VBU) terminal facilities in an attempt to illegally force VBU to sign a fuel oil transshipment agreement for 2011.

At the same time Litasco blocks the export of fuel oil by rail through Latvia causing millions of damages to the Latvian economy. According to Aivars Gobins, Ventbunkers Media Director, Litasco has only a few days left to lift their fuel oil from VBU terminal before the first vessel, chartered by VBU, arrives in Ventspils port later this week to store the fuel oil offshore on account of Litsaco. However, the Latvian customs authorities still have to approve this measure.

Read the full Press release as PDF file: Rudolf Meroni: Litasco is running out of time.

Business ethics Lukoil style: Litasco’s failure …

January 17, 2011 / posted in LITASCO, LUKOIL, Ventbunkers / No Comments

Ventbunkers Press Release

Business ethics Lukoil style: Litasco’s failure to lift fuel oil from Ventbunkers terminal creates havoc for the Latvian Railway.

RIGA, LATVIA, 17 JANUARY, 2011: Litasco’s (a subsidiary of LUKOIL) failure to accept delivery of over 120,000 metric tons of its fuel oil stored in Ventbunkers (VBU) reservoirs is causing severe problems for VBU and the Latvian Railway (LDZ).

Ventbunkers reservoirs are at full capacity and additional 1700-railcar tankers with over 100,000 thousand mt of Litasco product have entered the Latvian territory. With nowhere to discharge the fuel oil, the railcar tankers have been dispersed all over Latvian railway stations. An extraordinary meeting was called by LDZ on January 6, 2011 to implement urgent measures, at any cost, to ensure the rail system continues to operate. Border stations at Rezekne and Daugavpils are backed up and in a critical situation.

Read the full Press Release: LUKOIL daughter LITASCO: business ethics

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