Ukrainian Oil&Gas Association discussed the issues on systematic monitoring of oil and petroleum products market with the AMCU

Monday, 10 Apr 2017

Ukrainian Oil&Gas Association discussed the issues on systematic monitoring of oil and petroleum products market with the AMCU

Ukrainian Oil&Gas Association discussed the issues on systematic monitoring of oil and petroleum products market with the AMCU

On April 7, the Ukrainian Oil&Gas Association took part in a meeting of the working group on the improvement of the monitoring system for the oil and gas market.

Representatives of the Antimonopoly Committee, the Ministry of Energy and Coal Industry, the Ukrainian Energy Exchange in addition to the Ukrainian Oil&Gas Association participated in the meeting.

During the meeting, the electronic exchange trading system and the off-exchange transaction reporting system were presented by the Ukrainian Energy Exchange. According to the developers, this system should help to ensure transparency of the energy market and reduce its shadow component.

Participants of the event agreed on the progressiveness and optimality of the proposed information and analytical product and discussed the possibility of joint actions to upgrade the existing “Analysis of the petroleum products market” software and hardware complex on the basis of this platform.

Ukrainian Oil&Gas Association has repeatedly emphasized that it was ready for a productive dialogue with the AMCU through the lens of timely and detailed provision of the necessary information. But President of Ukrainian Oil&Gas Associatione Dmitrii Kulik noted after the meeting:

“The member companies of the Association already report to the controlling bodies on the regular basis the information provided by the legislation on the quality of realizing petroleum products and pricing formation. At the same time, there are many operators in the market that do not want to conduct their activities transparently, do not rush to share such data with either the consumer or the AMCU for many years. Therefore, we insist on joining the electronic system of all players in the fuel market without exception. We stand for fair and just rules of the game, for an objective and equal attitude to all traders from the AMCU side.”

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