BALTIC NEWS Recommended reading from the Baltic states

12Feb/110

Rudolf Meroni: LITASCO gives in and …

In their article dated February 11th, 2011, the Baltic News Network reports, that finally LITASCO decided to give in. Dr. Rudolf Meroni - the chairman of the supervisory board of AS Ventbunkers is only partly relieved. There were also reports on LITASCO in balticswww and in media-reading.

BNN reports, that Uldis Augulis who is the latvian Minister of Transport has called LITASCO and Ventbunkers to a meeting to resolve the current situation - the blocked Ventbunkers terminal and the blocked latvian railway system. LITASCO was represented by Mr. Andrey Polyakov.

The Minister stated, that if LITASCO does not lift their fuel from the Ventbunkers tanks, the merchandise will be nationialized and sold elsewhere. So finally LITASCO agreed to send their ship (waiting outside the harbor) to pick up the oil.

This does not resolve the whole situation as still thousands of - in the mean time fully frozen - railcars loaded with oil are waiting for discharge - distributed all over Latvia.

With the blocking of the Ventbunkers facilites, LITASCO - a daughter company of LUKOIL - has tried to force Ventbunkers to continue their contract for 2011.

Read the full article in Baltic News Network.

Here you can find the original Ventbunkers press release: 20110214-VBU eng 14.02.2011.

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