RIGA. Mar 1 (Interfax) - Latvian oil concern Ventspils nafta (VN) posted a net profit of LVL 3.226 million (about 4.6 million euro) in 2012, on revenue of LVL 135.725 million, 14.8% more than in 2011, the company said in its financial report.

VN posted a net loss of LVL 12.186 million in 2011.

The company continued its cost cutting efforts in 2012, reducing administrative expenses 17.3% to LVL 906,000.

VN's oil terminal operating subsidiary Ventspils nafta termin