Oil imports to Ukraine is increasing

For the period January-October 2019, Ukrtatnafta, the operator of Kremenchuk refinery (Poltava region), increased import volumes by 234 thousand tons, compared to the same period last year, to 735 thousand tons, according to the Ukrainian Sea Ports Authority. It is reported by Argusmedia.

Basically, Ukraine imported Azerbaijani oil. Socar Trading, the trading division of the State Oil Company of Azerbaijan (SOCAR), supplied six consignments with a total volume of 504 thousand tons for the country's only large operating plant. Last year, supplies amounted to five cargoes – 501 thousand tons.

Since 2017, Ukrtatnafta has been buying oil from Socar Trading under a long-term contract. Last year, all oil imports was from Azerbaijan.

In 2019, the company began purchasing Bakken oil from America. Ukrtatnafta acquired three spot lots with a total volume of about 230 thousand tons.

Offshore oil shipments for Ukrtatnafta are delivered to the Eximnefteprodukt and Odesanefteprodukt terminals in Odesa. The company, as necessary, carries out customs clearance of volumes for shipment to the plant via Odesa-Kremenchuk main oil pipeline.

In 2019, the volume of oil refining at Kremenchuk refinery is 190-240 thousand tons/month, compared to 180-210 thousand tons/month a year earlier with a maximum installed capacity of 610 thousand tons/month.

Recall that the Regulator approved new tariffs for oil transportation.

Earlier it was reported that Ukrtransnafta and Ukrtatnafta concluded an agreement to increase the guaranteed volume of oil transportation through the system of main oil pipelines to Kremenchuk oil refinery from October 1, 2019 to 1.2 million tons per year.

Tags: The Cabinet of Ministers, contracts, oil, hydrocarbon production, tariffs, legislation, Ukrtransnafta, energy market, добыча нефти, drilling, Oil refinery plant, foreign affairs, oil transit, import

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