Pan European Terminals plc, formerly Baltic Oil Terminals plc, is engaged in the operation of hydrocarbon transhipment terminals in the Baltysk on Russia�s Baltic sea coast and trading in refined products. The Company operates in three segments: Terminals segment, which provides terminal handling and storage services on behalf of clients wishing to export oil products and is based in the Kaliningrad Oblast; Trading segment, which matches buyers and sellers of hydrocarbon product and takes a margin on the product sold, and the Exploration and Production segment, which holds exploration licences in Kurgan, Western Siberia. The Company�s subsidiaries include Baltic Petroleum Limited, Baltic Terminals Limited, Caspian Finance Limited, Zauralneftegaz Limited, OJSC Tetoil, OJSC Tetoil Baltic, Pazega Limited, OOO Otelbiznesstroy and Yuri Trading Limited. In December 2010, the Company acquired Petroval Bunker International B.V.