Our Arctic Neighbors: Mystery Russian company buys oil terminal - April 12, 2009

Providing coverage of Alaska and northern Canada's oil and gas industryApril 2009

Vol. 14, No. 15

Week of April 12, 2009

Our Arctic Neighbors: Mystery Russian company buys oil terminal

The Rusneftekhim oil trading company has bought the Vitino oil terminal on the White Sea coast from private individuals for an estimated $40-$60 million, Portnews.ru reported March 19. Vitino primarily handles oil shipped by Lukoil and Gazprom Neft, as well as gas condensate from Novatek.

Russian media sources could obtain little information about Rusneftekhim, except that it has previously specialized in selling diesel fuel and gasoline. The company’s Web site is blank and “under reconstruction.” In 2008 Vitino handled 27 million barrels of oil products and condensate, and 5 million barrels of oil. Most of these products are transported to the port by rail.

—Sarah Hurst

Petroleum News - Phone: 1-907 522-9469
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