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Article: Vitol Takes Over Ventspils Pipeline.
- Article from:
- NEFTE Compass
- Article date:
- February 11, 2009
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International commodities trader Vitol has taken control over the Latvian stretch of pipeline supplying gas oil to the port of Ventspils, giving the company even greater control of the operations of the port, which was once Russia's largest Baltic outlet for crude oil and refined products.
According to trading sources, Vitol took over control of the line on Feb. 2, replacing operator Balt-Nafta-Logistics, run by Singapore-based Gecco, which was believed to be connected to Russian products pipeline monopoly Transnefteproduct.
Vitol has taken increasing control over gas oil shipments through Ventspils since buying a stake in the Ventspils Nafta terminal in ...