Baltic Oil Terminals plc is engaged the development and operation of hydrocarbon transhipment terminals in the Russian Federation and trading in refined products. The Company operates in three segments: Terminals division, which provides terminal handling and storage services on behalf of clients wishing to export oil products and is based in the Kaliningrad Oblast; Trading division, which matches buyers and sellers of hydrocarbon product and takes a margin on the product sold, and the Exploration and Production division, which holds exploration licences in Kurgan, Western Siberia. The Company’s subsidiaries include Baltic Petroleum Limited, Baltic Terminals Limited, Caspian Finance Limited, Zauralneftegaz Limited and OJSC Tetoil. On January 15, 2008, the Company acquired a further 25% interest in its main asset, the Rosbunker transhipment terminal through the acquisition of the remaining 50% interest of Arblade Holdings Limited.