Oil

State of compliance
 

  • Stockholding obligation

    Stockholding obligation

    The model for oil stocks establishment, maintenance and financing in Ukraine was sent by the State Reserve Agency to the Ministry of Energy and Coal Industry (MECI) for approval at the end of December 2017. In May 2018, MECI approved this model, which was immediately sent by the State Reserves Agency to the Ministry of Economy. Furthermore, a draft resolution of the Cabinet of Ministers of Ukraine “On approval of the model of formation of minimum stocks of crude oil and/or petroleum products and its financing in Ukraine” was prepared and agreed with the Ministry of Economic Development and Trade of Ukraine and additional executive authorities. At present (September 2019), the draft resolution is being reviewed together with the Ministry of Justice of Ukraine.

    Concurrently, in the last quarter of 2018 and beginning of 2019, the State Reserve Agency drafted the Law on Minimum Oil and Petroleum Products, the provisions of the Central Inventory Management Company and the Oil and Petroleum Products Market Crisis Plan. The draft Law is currently undergoing approval by the Ministry of Economic Development and the executive authorities involved.

    In parallel, the State Reserve Agency conducted in 2019 an analysis of the technical condition of the reservoir fleet of oil bases that are included in the state reserve system, as well as determined the amount of financing necessary for engineering and technical measures and preparation of oil bases for the formation of minimum reserves of oil and petroleum products. Based on the results, the State Reserve Agency has undertaken the necessary measures to find the financing resources needed to carry out the required work.

  • Specific stocks

    Specific stocks

    In Ukraine, there are no specific stocks.

  • Availability and accessibility

    Availability and accessibility

    There are no emergency oil stocks and therefore their availability and accessibility are not available.

  • Reporting

    Reporting

    No legislation is in place and reporting obligations are not present. The Joint Organisations Data Initiative (JODI) Questionnaire is not submitted. Some data are provided by the State Statistical Service of Ukraine as part of the annual energy balances. The State Statistical Service is currently working on collecting data for the Monthly Oil Statistics (MOS). It is its intention to begin reporting the monthly data in 2018 and to use the monthly data as the basis for calculating the national stockholding obligation starting in 2019.         

  • Emergency procedures

    Emergency procedures

    No emergency procedures in compliance with Directive 2009/119/EC  are in place.