MAZEIKIAI - Маzeikiu Nafta reported its consolidated preliminary financial results for six months of 2006 to the Vilnius Stock Exchange.

The Company earned 370.870 million Litas (132.759 million US dollars) of unaudited net profit during six months of 2006 under International Financial Reporting Standards (IFRS), while net profit for six months of 2005 was 378.979 million Litas (141.421 million US dollars).

Mazeikiu Nafta also reported the updated financial forecast for the whole year 2006. The Company plans to earn 507.8 million Litas (204.9 million US dollars) net profit in 2006.

Company's revenues reached 6.826 billion Litas (2.431 billion US dollars) during six months of 2006, by 2 billion Litas (637 million US dollars) more if compared to the same period last year.

"World crude oil and refined products market stayed positive and refining volumes allowed Mazeikiu Nafta to capitalize on these positive trends.", said P. Nelson English, General Director of Mazeikiu Nafta. "Finally, I would like to thank Mazeikiu Nafta employees for their dedication and vigilance.", added P. Nelson English.

Company sold 4.506 million tons of refined products during six months of 2006 compared to 4.194 million tons for the same period of 2005.

Western Europe remained the largest market for Mazeikiu Nafta with 41 per cent of sales volumes (1.882 million metric tons) followed by Lithuania (20 per cent or 890 thousand tons) and the USA (19 per cent or 851 thousand metric tons). Estonia made for 7 per cent, Latvia for 6 and Poland for 5 per cent of sales (327 thousand, 257 thousand and 223 thousand metric tons respectively). The remaining 2 per cent of sales fell on Ukraine and Moldova (74 thousand metric tons).

Маzeikiu Nafta refined 4.7 million metric tons of crude and other feedstock during the six months of 2006, which is by 281 thousand metric tons more than for the same period last year. 

The Butinge Terminal loaded almost 2.53 million metric tons of crude during six months of 2006, compared to almost 2.60 million metric tons for the same period of 2005. 

The pipeline system transshipped 10.44 million metric tons of crude and diesel during six months of 2005, compared to 9.63 million metric tons for the same period a year ago.

Маzeikiu Nafta collected and paid over 1.663 billion Litas in taxes during six months of 2006.

The company also repaid 13.5 million Litas (4.8 million US dollars) in principal on long-term loans and a total of 42.5 million Litas (15.1million US dollars) in interest payments, including 28.2 million Litas (10.2 million USD) in interest paid to the state budget.

Contact:
Giedrius Karsokas
AB Mazeikiu Nafta
tel. +370 610 65298
fax +370 443 92579
giedrius.karsokas@nafta.lt