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TransBaltic OIL aims for greater presence in Baltic states
MINSK, 24 September (BelTA) – TransBaltic Oil, a subsidiary of the Belarusian Oil Company, has plans to increase its presence on the markets of the Baltic states to 30% by the year 2020, TransBaltic OIL Chairman of the Board Viktor Krasnyansky said during the conference “Oil and gas market of Belarus: production, trading and retail” on 24 September, BelTA has learned.
At present, TransBaltic OIL accounts for some 8% of the total amount of diesel fuel imported by Latvia. As for Lithuania and Estonia, the figure stands at 21% and 1% respectively. “The market of the Baltic countries is very promising. It provides us with good opportunities for increasing supplies,” Viktor Krasnyansky pointed out.
Besides, TransBaltic Oil has plans to expand the list of products supplied to the markets of the Baltic states. Apart from diesel fuel, the company wants to sell motor gasoline, paving bitumen, Jet-A1 fuel, and bunker fuel. TransBaltic Oil is also planning to boost its wholesale trade in small amounts of oil products from the petroleum storage depots located on the territory of Lithuania and to continue providing direct shipments of jet fuel to end consumers and aircraft fuelling operations at the airports of Riga and Vilnius.
TransBaltic OIL was founded in June 2012 as a unit of the commodity distribution network of ZAO Belarusian Oil Company on the territory of the Baltic states. Its main task is to tap into the export potential of the Belarusian oil-processing industry in the countries of the Baltic region and to use their infrastructure to bolster the export of Belarusian oil products to third countries.
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