Lukoil subsidiary Litasco, in dispute with Ventbunkers, begins a misleading propaganda campaign trying to influence even Latvian Ministers.
The CEO of Litasco, Sergey Chaplygin, arrived in Riga, Latvia at the beginning of the week – not to resolve problems with A/S Ventbunkers (VBU), but to wage a propaganda campaign and spread false information to journalists.

Litasco, in breach of contract, still refuses to lift 120,000 metric tons of their fuel oil from Ventbunkers terminal. With this act Litasco has paralyzed the fuel oil transit business through the port of Ventspils. The Litasco CEO Sergey Chaplygin arrived earlier this week with other Litasco managers. So far they have met with the Minister of Justice Aigars Stokenbergs.

The press release for full reading: Lukoil subsidiary Litasco, in dispute with Ventbunkers

This is really a strange situation for Ventbunkers. Litasco blocking the Ventbunkers terminal – for what reason?

Sounds like LITSCO is pushing themselves into the corner …

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.

Ventbunkers hopes for better results in the negotiations with Litasco

A meeting in Zurich earlier this week, between Litasco and Ventbunkers (VBU), ended with no real results because Litasco decided to play some games. The VBU management hopes for better results at the next round of talks scheduled for today, January 28.

“At least we were able to sit down at one table with the CEO of Litasco, Mr. Chaplygin,” stated Rudolf Meroni, Chairman of the VBU Supervisory Board. ‘This in itself is an achievement, something the VBU management was waiting for. A problem of this magnitude should be resolved without delay. We need results and we need them now. Every day is costing hundred thousand USD or more, but Litasco prefers to play games.“

Read the full press release: Ventbunkers negotiating with LITASCO

Rudolf Meroni (A/s Ventbunkers) and Sergei Chaplygin (Litasco SA)  return to the negotiation table

Dr. Rudolf Meroni the Chairman of the Supervisory Board of A/s Ventbunkers (VBU) informed that after weeks of a stalemate in the dispute  with the Lukoil subsidiary Litasco, the parties have agreed on negotiations to discuss the problems regarding oil fuel stored at the Ventbunkers terminal located in the port city of Ventspils, Latvia.

Read the full press release: Rudolf Meroni (Ventbunkers) and Sergei Chaplygin (Litasco)