Ventbunkers / LUKOIL daughter Litasco negotiations without result. Will the Latvian government intervene?

Rudolf Meroni, chairman of A/S Ventbunkers Supervisory Board, informs that the negotiations between Ventbunkers and the Lukoil subsidiary Litasco did not lead to any result because of the totally unreasonable position of Litasco. Ventbunkers will call for the intervention of the Latvian Government.

On Friday evening a second meeting between the two teams of A/s Ventbunkers (VBU) headed by Dr. Rudolf Meroni, the Chairman of the Supervisory Board, and Litasco’s CEO, Sergei Chaplygin, took place in Zurich, Switzerland. Unfortunately, the meeting did not bring any results, because of the totally unreasonable position of Litasco. VBU had submitted a proposal to Litasco to lift its fuel oil and to effect the payment of a hidden amount of 20 million EUR.

You may want to read the full press release: Ventbunkers / LITASCO negotiations without result

This interesting press release sheds more light on the strange case between LITASCO (a LUKOIL daughter company) and AS Ventbunkers.