Latvian venture “Rietumu Nafta” SIA is successfully working on the market of auto fuel trade since 1998. Currently, the company is the biggest fuel wholesaler in the Kurzeme region of Latvia (Western part of the country) and one of the noticeable players in the country market. Client-oriented business approach combined with almost 20 years’ experience in the market helps “Rietumu Nafta” SIA in maintaining the leading positions in the industry.
Since the year 2013 “Rietumu Nafta” SIA is a member of Latvian TOP 500 company list, published by major Latvian business newspaper “Dienas Bizness” with annual turnover averaging to EUR 50 mln.
The biggest share of the company’s business is constituted by fuel wholesale operations. “Rietumu Nafta” SIA offers to its clients all different types of diesel fuel of highest quality, produced according to official European Union standards. It includes also fuel for agricultural needs and marked diesel fuel that should be traded following special procedures as per Latvian legislation.
Many company’s clients have concluded long-term purchase and delivery contracts. Delivery is ensured across the whole territory of Latvia using company’s 6 modern fuel trucks that are equipped with fuel volume, temperature, and density controlling features, showing the exact parameters of purchased fuel to the customer.
Besides wholesale and delivery operations “Rietumu Nafta” SIA operates also two gas stations located in the cities of Kuldiga and Liepaja. Gas stations sell to retail customers petrol, diesel fuel, diesel fuel for agricultural needs as well as car biogas (sold at station in Kuldiga).
“Rietumu Nafta” SIA is looking to attract a total amount of EUR 1,000,000 for 12 months in order to finance rent cost and other expenses of using oil product terminal facilities in the one of commercial harbors of Kurzeme region that will allow to ensure year-round supply, storage, and timely delivery to the customers of necessary amount of diesel and other fuel products.
During the first eight months of 2018, Latvian gasoline imports dropped 4% from the respective period a year ago, while diesel fuel imports fell 11.3%, according to the Central Statistical Bureau, writes LETA.
During the first eight months of this year, Latvia imported 186.247 mln liters of gasoline and 826,800 tons of diesel fuel.
The value of gasoline imports rose 8.5 % year-on-year to EUR 78.483 mln in January-August 2018, and the value of diesel fuel imports increased 6.4% to EUR 438.043 mln.
Lithuania was the main supplier of gasoline and diesel fuel to Latvia.
In the eight months, Latvia imported 116.598 mln liters of gasoline from Lithuania, or 62.6% of total gasoline imports (64.6% in January-August 2017) while 65.064 mln liters, or 34.9%, were imported from Finland. Compared to January-August 2017, gasoline imports from Lithuania declined 6.9% and gasoline imports from Finland rose 0.9%.
In January-August 2018, Lithuania also supplied 468,900 tons of diesel fuel to Latvia or 56.7 % of total diesel fuel imports (61.1% in January-August 2017). Diesel fuel imports from Lithuania fell 18.6% against January-August 2017. Diesel fuel imports from Finland increased 4.7% y-o-y to 248,000 tons or 30% of total diesel imports in January-August this year. Latvia also imported 86,200 tons of diesel fuel from Belarus in January-August 2018 or 7.2% more than in January-August 2017.
In the first eight months of this year, Latvia also imported 464 tons of fuel oil, down 46.9% from the same period a year ago. Fuel oil imports from Estonia reached 433 tons or 93.2%, and the value was EUR 221,000.
In January-August 2017, Latvia imported 193.983 mln liters of gasoline, 942,600 tons of diesel fuel and 875 tons of fuel oil.
(Market review by "The Baltic Course")
Envestio participant’s investment - EUR 1 000.00
Total expected return: EUR 1 150.01Invest in this project
|Project start date||28.01.2019|
|Borrower||“Rietumu Nafta” SIA, Reg. Nr. 41203010197, Latvia|
|Funding Target||€ 500,000|
|Loan Purpose||Financing rent cost and other expenses related to use of oil product terminal facilities|
|Loan Period||12 months|
|Interest Rate||15% per annum|
|Repayment of Loan Principal||In full at the end of the Loan Period|
|Investment principal buyback available||Yes, 5% penalty rate|
|Payment of Interest Payments||Monthly, on a specific date|
|Financing type||Secured debt|
|Guarantee from the Project’s owner||Commercial pledge in favor of Envestio Collateral Agent, Personal guarantees|
Investment buyback is guaranteed!
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