RIGA. Sept 2 (Interfax) - Latvia's Ventspils nafta (VN) reduced its net loss by 23.5% year-on-year to LVL7.286 million (10.4 million euros) in the first half of 2013, the company reported in a financial statement filed with the Nasdaq OMX Riga exchange.

VN's revenue fell 14% year-on-year to LVL63.575 million in the first half, including LVL35.51 million in revenue generated by transshipment, storage and transportation of oil products and LVL28.06 million generated by the shipping business.

The company's management attributed the first-half loss primarily to provisioning of LVL12.96 million for losses on the depreciation of VN's fleet. Before provisions, VN had a profit of LVL5.68 million.

Group parent company JSC Ventspils Nafta posted a net profit of LVL13.44 million in the first half, including LVL13.33 million in dividends from subsidiaries Ventspils nafta termin