Batumi Oil Terminal faces oil transportation drop in 1H2020

Oil&Gas Materials 24 August 2020 15:09 (UTC +04:00)
Batumi Oil Terminal faces oil transportation drop in 1H2020

BAKU, Azerbaijan, Aug.24

By Nargiz Sadikhova - Trend:

Batumi Oil Terminal Groups, which is 100 percent owned by Kazakhstan’s KazTransOil JSC increased the transshipment of oil, dry, ferry and container cargo by 18 percent in 1H2020 compared to the same period last year, Trend reports with reference to KazTransOil JSC (KTO).

Thus, the total volume of cargo transshipment was over 3 million tons of cargo.

The volume of transshipment of oil and petroleum products decreased to 409,000 tons, which is 16 percent less than in 1H2019.

“The decrease is due to the ongoing maintenance work at the refinery in Turkmenistan, as well as to the reduced demand for light petroleum products as a result of the current COVID-related situation. At the same time, the Batumi Oil Terminal increased the transshipment of Kazakhstan liquefied gas by 57 percent compared to the same period last year to 62,000 tons,” the company said.

The company said that despite the decrease in the volume of oil cargo transshipment, the growth in the total volume of cargo transshipment in January-June 2020 is due to an increase in the volume of dry cargo transshipment by 124,000 tons or 37 percent, container cargo by 506,000 tons or 38 percent.

“These indicators were achieved as a result of concluding long-term contracts with major regional clients and extending the period of preferential import of vehicles that stay in containers for subsequent registration on the territory of the Eurasian Economic Union. In addition, the increase in dry cargo was due to a decline in air and rail traffic in favor of maritime routes caused by the coronavirus pandemic,” the report said.

The consolidated revenues of the Batumi Oil Terminal Groups for 1H2020 increased by 21 percent to 5.04 billion tenge ($12.07 million) compared to the same period last year.

Consolidated expenditures amounted to 4.6 billion tenge ($11.1 million), which is 46 percent lower than the same indicator of 2019. Consolidated net profit for the reporting period amounted to 395 million tenge ($944,704).

Batumi oil terminal (BOT) is a subsidiary company of KazTransOil JSC (100% ownership since 2017). BOT is through direct ownership and management of productive assets in Georgia. BOT has exclusive management rights in respect of 100 percent of the share of Batumi Sea Port LLC. It provides services for transshipment, pumping, storage of oil, oil products and gas, as well as products of their processing using its own berths, technological pipelines and reservoirs.


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