Ukrtransnafta permitted to create licensed warehouse for providing crude oil storage services

permitted to create licensed warehouse for providing crude oil storage services

KYIV. Sept 21 (Interfax-Ukraine) – In September, JSC Ukrtransnafta was permitted to create a licensed customs warehouse on the basis of a part of its facilities to provide oil storage services.

Ukrtransnafta CEO and Head of the oil division of the Naftogaz Group Mykola Havrylenko announced this to journalists in Kyiv on Friday, September 18.

According to him, this is about the linear part of the Kremenchuk-Lysychansk oil pipeline, where there is a technical possibility to place about 400,000 tonnes of crude oil, as well as about the Pivdenny Sea Oil Terminal (Odesa region).

The head of Ukrtransnafta also said that the company retains plans to expand the tank farm of the Pivdenny Sea Oil Terminal with the installation of four tanks with a capacity of 120,000 tonnes each.

As reported, Ukrtransnafta applied to the Ministry of Finance in order to obtain permission to create a licensed customs warehouse on the basis of its capacities to provide oil storage services in April. An interest in storing oil in Ukraine in the spring, against the background of an oversupply of oil on the market, in particular, was shown by the Azerbaijani Socar.

Source: www.en.interfax.com.ua