New rules for calculating the price of oil and fuel reserves in Ukraine

The government has changed the mechanism for determining the market value of minimum oil and oil product reserves, the Ministry of Energy announced on April 2, UNN writes.

Details

As indicated, it is about clarifying the methodology for calculating the level of minimum fuel reserves "in terms of the mechanism for calculating market prices for oil and oil products."

The previous version of the relevant government resolution "provided for a calculation mechanism that did not reflect current price indicators in the oil and oil product market."

"The amendments contain a reference to the methodology for calculating the level of minimum fuel reserves, which provides for the implementation of the functionality for determining the market value of oil and oil products," the Ministry of Energy reported.

The adopted resolution, as noted, "defines clear terms and procedures, which makes the process of determining the market value of minimum oil and oil product reserves more transparent and efficient."

We add that the decision was made against the backdrop of the energy crisis due to the war in the Middle East.

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