Having recently increased the participation in the share capital of Jsc Ventspils Nafta (VN), Vitol representatives exercised their shareholder rights today at the general shareholder meeting of VN. The meeting approved the accounts for 2006 and elected the auditor for the company. Vitol hopes for a fruitful cooperation with other shareholders, investors and business partners in order to accomplish long-term business objectives of VN and increase the shareholder value of the company.

“We see significant business potential in Ventspils Nafta and we are committed long-term to pursue the business opportunities presented to Ventspils Nafta by the dynamic oil transit market. Today we were pleased to see a well-run and executed shareholder meeting and are happy with the investment climate in Latvia, that I am sure will allow us to put to practice the global trading expertise accumulated by Vitol professionals. One of the first key tasks of Vitol and the VN management now is to fine-tune our future business plans” says Dennis Crema, commercial representative of Vitol Group and Deputy Council Chairman of Ventspils Nafta.

For further enquiries please contact Linda Lisicina at linda@hillknowlton.lv