Rada regulates creation of minimum reserves of oil and oil products

The Verkhovna Rada regulated the creation of minimum reserves of oil and oil products.

A total of 258 MPs voted for the adoption of bill 9024-d with the minimum required 226, Ukrainian News Agency reports.

This document was developed in order to ensure an increase in the level of energy security of the state and to ensure the continuous supply of oil and oil products to the domestic market of Ukraine, in the event of a crisis situation on the oil and oil products market, by implementing the requirements of the directive of the Council of Ministers of the Energy Community 2009/119/EC.

It provides for the creation of a level of minimum reserves equal to 90 days of average daily net imports or 61 days of average daily consumption, depending on which of the indicators is higher.

Minimum stocks of oil and oil products are created:

- by market entities that import oil and/or oil products under the import regime, from the list of oil and/or oil products that they put into circulation on the territory of Ukraine;

- by market entities engaged in the production of oil products, from oil that is put into circulation, and/or oil products that are produced and put into circulation in accordance with the volume and nomenclature determined by the central body of executive power, which ensures the formation and implementation of state policy in oil and gas and oil and gas processing complex;

- by market entities that introduce liquefied gas into circulation, or in liquefied gas, or in automobile gasoline with a coefficient of 0.8 to the established volume of minimum reserves for liquefied gas.

At the same time, the market subject acquires the right to introduce oil and/or oil products into circulation only in the amount proportional to the minimum stock of oil and oil products, actually formed by such a market subject or instead of such subject - by the operator in accordance with the concluded ticketing agreement.

As Ukrainian News Agency earlier reported, the Ministry of Energy is initiating the creation of minimum reserves of oil products.

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