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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