BALTIC NEWS Recommended reading from the Baltic states


LITASCO – new facts

News facts around LITASCO came up today, when media-reading published an article about the possible involvement in the Zambia oil corruption case.

You may read the articles in media-reading - or go to the source directly:

There are several news sources which make it obviouse, that LUKOIL daughter company LITASCO has tried to influence a tender in Zambia in LITASCO's favor.


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.


LITASCO begins misleading propaganda

In their article dated Febuary 3rd, 2011 - the Baltic Course reports on LITASCO's strange behaviour in their conflict with AS Ventbunkers. LITASCO - a daughter company of russian LUKOIL used to be the major client of AS Ventbunkers.


Ventbunkers in negotiations with LITASCO

AS Ventbunkers

AS Ventbunkers

On January 28th, 2011 - the AS Ventbunkers press service published a press release about the current situation with the AS Ventbunkers client LITASCO.

As the press release expresses, the terminals of Ventbunkers are currently blocked by LITASCO. This, by not taking over their oil from the Ventbunkers terminals and thus blocking the terminals.

This situation is now ongoing since christmas last year - and costs Ventbunkers millions every day. A loss in turnover and profit which will be difficult to compensate during 2011.


Lukoil seeks to extend the contract with VENTBUNKERS

Railroad jam

Railroad jam reports on January 18, 2011 on the peculiar situation of Ventbunkers (VBU) and the Russian oil giant Lukoil.

Lukoil (or their subsidiary company Litasco) is trying to force VBU sign a new contract by failing to load the terminal stored passwords, and blocking the possibility of handling other customer load.