On behalf of the shareholders and the entire staff of the Petersburg Oil Terminal, I welcome you to our website.
Summing up the work in 2018, first of all, I want to thank our Clients for their trust and support. You were our reliable partners! I also want to express my gratitude for the support and effective cooperation of the staff of the Ministry of Transport, the Ministry of Energy, the Russian Railways, the Big Port of St. Petersburg, the Ministry of Internal Affairs and the Federal Security Service of the Russian Federation, as well as our partners from among the largest Russian banks.
The market situation last year was not the easiest for the oil market as a whole and, in particular, for the oil and oil products transshipment sector. Export transshipment of petroleum products through the ports of the Russian Federation as a whole depends on oil refining in the Russian Federation, which has been stagnating since about 2014, when the peak was reached. The loading of our suppliers – refineries – depends on many factors, including the demand for petroleum products, tax policy, world oil prices, OPEC + and
Nevertheless, even in not very simple conditions, we were able to slightly increase the volume of transshipment. In 2018, the terminal shipped 4.6 million tons of dark oil products (fuel oil), which is 2.2% more than in 2017. The transshipment volumes of light petroleum products grew faster, although they still account for a smaller part in total PNT. So the terminal shipped 3.1 million tons of kerosene and diesel fuel, which is 63% more than in the previous year. In general, by the end of the year, the company’s share in the total volume of transshipment of petroleum products through the Big Port of St. Petersburg decreased by 3% to 84%.
However, it should be noted that the last year PNT worked smoothly, avoiding failures and misfires, and once again confirmed its place among the largest Russian logistics centers that provide round-the-clock continuous supply of petroleum products. In the past year, we continued to work on the continuous improvement of the material and technical base of PNT. In particular, in 2018, construction began on a new reservoir with a capacity of 40,000 cubic meters. Implementing this project, the terminal still adheres to its strategy of continuous progressive development – investment in the development of PNT since 1997 amounted to more than 200 million US dollars, and the history of our company is a vivid example of the creation of an advanced production and logistics complex operating on the strategically important for Russia market and providing a stable income to the state.
Separate attention deserve the company’s environmental initiatives. Last year, we were the first in the Russian Baltic to install a complex of boom booms. In addition, we have successfully prepared and implemented a project to create our own non-standard emergency rescue unit at the terminal. The terminal team and its shareholders will continue to work on upgrading our production base to improve the quality of services provided to you, our customers!
I am sure that this year we will meet all the challenges with dignity and will be able to make PNT only stronger!