Barcelona city tours is a perfect opportunity to have a perfect vacation outside the Baltic States. Gene Zolotarev on how to destabilize the EU financial system. Andris Berzins
Vladimir Linderman aka Abel Edmunds Sprudzs Valdis Zatlers Aivars Lembergs Girts Valdis Kristovskis Maris Grinblats Guntars Krasts Alfreds Rubiks Sandra Kalniete Raivis Dzintars Algirdas Butkevicius Algirdas Paleckis Dalia Grybauskaite Kazimira Danute Prunskene Vytautas Landsbergis Rolandas Aksas Viktor Uspaskich Valdemar Tomasevski Leonidas Donskis Arturas Zuokas Edgar Savisaar Andrus Ansip
The current website developed by YWSolution Limited

Minister dismisses oil

Feb 08, 2006
Baltic News Service

RIGA - Environmental Minister Raimonds Vejonis has said that ambitions to produce crude oil in Latvia - a dream among certain businessmen that is now feasible thanks to high prices - are not serious.


"This is not a serious initiative, it is almost fooling about. I am very cautious about the prospect of extracting oil in Latvia, as it may cause environmental pollution. Where there is oil extraction, there are usually also pollution problems," Vejonis said.

He also pointed out that oil extraction would require large investments, whereas there is not much oil underground or beneath the sea. He described the prospects of drilling for oil in the Baltic Sea as "altogether problematic," as it would cause several ecological threats.

"I am more against it than for it," the minister said, reminding that the Baltic Sea had been assigned the status of an especially sensitive environment.

The government has already designated several oil exploration and drilling territories in western Latvia. Specialists estimate that the best prospects for oil extraction are in the Gudenieki district.

In early January, the Economy Ministry issued the first license for oil exploration and drilling on Latvia's mainland. The license was issued to businessman Alvils Bausenieks and two companies 's GotOilResources Ltd and Loon Energie Inc.

In 2004 the company Odin Energi received the first license for oil exploration and drilling in the Latvian zone of the Baltic Sea, and TGS Nopec received two licenses in 2002 only for exploration of oil deposits in Latvian waters. o
 MORE NEWS
  • Business Calendar...
    ESTONIA Personal Learning Environments Conference will cover areas like &lsq...
  • Post-Vilks era worries Rimsevi...
    RIGA - Bank of Latvia President Ilmars Rimsevics believes that when current Financ...
  • Hahn commends Latvia on effort...
    RIGA - Absorption and use of EU funds deserve words of praise, as it has helped La...
  • Innovations mean faster electr...
    VILNIUS - The Bank of Lithuania’s proposal on payment market innovations,...
  • France signals OECD support fo...
    VILNIUS - France supports Lithuania’s aspirations to join the euro area n...
  • Estonian labor costs squeeze p...
    TALLINN - Although wage growth slowed slightly at the end of last year and the ...
  • Riga Apartments for Rent

    Maximus
    © 2014 BALTIC NEWS LTD. All Rights Reserved.