It is expected that Mazeikiu Nafta, the Baltics' only oil refinery, will see revenues surge 52 percent this year to $5.2 billion, according to the Economy Ministry. Refining volumes should reach some 10 million tons as well. Last year throughput at the refinery, which is owned by Poland's PKN Orlen, plunged 30.3 percent to 5.8 million tons. Revenues dropped to $3.4 billion from $4.3 billion in 2006.
Lietuvos Pastas (Lithuanian Post) will reportedly aim to render financial services in certain market segments. The Lietuvos Rytas daily wrote that the state-owned company intended to find an investor for its financial services subsidiary Lietuvos Pasto Finansines Paslaugos (Lithuanian Post Financial Services). "Demand on the market is huge, yet we do not have an adequate product. So we will first announce an international tender and will search for an investor with such a product," the daily quoted Lithuanian Post CEO Ernestas Vaidelys as saying. In 2007 the company completed the installation of innovative IT system, which enabled the operator to launch the sale of certain financial products. Revenues on financial services currently account for 23 percent of overall revenues of the postal operator, Vaidelys said.