Government, oil traders, signed partnership memorandum

15:25, 21 August 2006
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Today the Cabinet of Ministers of Ukraine signed a memorandum on partnership with enterprises and companies, operating at the internal market of oil and oil products. 

Today the Cabinet of Ministers of Ukraine signed a memorandum on partnership with enterprises and companies, operating at the internal market of oil and oil products.

      According to an UNIAN correspondent, on behalf of the government, the memorandum was signed by Prime Minister Victor Yanukovych, and on behalf of companies – Lukoil OJSC (Russia) president Vagit Alekperov, “Alliance Group” OJSC (Russia) chairman Musa Bazhayev, “Ukrtatnafta” close company (Ukraine) chairman of board Serhiy Hlushko, “Donbasnaftoproduct” OJSC director general Oleskander Demianenko, “Continium” group of companies co-owner Ihor Yeremeyev, “Ukrnafta” OJSC Supervisory Council member Ihor Kolomoyskiy, “Concern Halnaftohaz” OJSC director general Yuri Kuchabskiy, “Alfa-Nafta” LTd. director general Ayk Pambukhchian, “Tatnafta” OJSC (Russia) director general Shafagat Takhautdinov, “TNK-BP” CEO German Khan.

      Victor Yanukovych stressed that the main aim of signing the memorandum is to create a “normal market of oil and oil products. We stress that we prefer market relations… to create common rules of game… the result is a stability of the prices policy”, he noted.

      In line with the memorandum, the Cabinet of Ministers of Ukraine undertakes to create an expert-analytical group, headed by Deputy Prime Minister for fuel-energy complex Andriy Kliuyev, including representatives central executive power bodies and companies. The commission will work out a mechanism for creating a stabilizing reserve of oil and oil products, with working out draft legal acts and decisions. The commission is also due to work out issues of the system of regulating the import and export of oil products.

      For their part, the oil companies undertake to increase volumes of oil refining and producing oil products to completely satisfy the demand of native consumers, to grow the export capacities of oil refineries, and to increase the share of oil products in the total volume of export. They are also due to reconstruct and upgrade oil refineries, in order to increase the depth of oil refining and production of oil products in line with the European standards, etc..

      The document does not include any price parameter of oil products.

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