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«Terminal: Oil Review» 18 (604) 7 May 2012

«Terminal: Oil Review» 18 (604) 7 May 2012

Topic Of The Week

The Needed Formula

On December 12, 2006, right after the meeting of an industrial group of experts and analysts under the then vice premier for energy issues Andriy Kliuyev, pro-government reporters were in rapture over the «first step to the transfer to international standards of price formation» — the creation of a formula that would determine the price of fuel at Ukrainian filling stations. While «price formation standards» do not exist in developed countries (competition, cherished by these countries’ governments, is the rule there), methods to determine «economically justified» retail prices of motor fuel, which have never been published and have never been analyzed, have been in use in Ukraine for five years.

Anti-counterfeit Campaign

Oil In Law

Employees of PJSC Ukrtransnafta’s Odesa branch recently faced «oil siphoners.» The shadow businessmen caused the company damage worth thousands of hryvnias, but the situation was resolved with dignity – they not only eliminated the illegal supply of crude oil to the market, but also got a chance to gain compensation for the material damage caused to them.

Scandals

Who Is Who

On April 12, 2012, Dnipropetrovsk region’s commercial court ordered the closure of the Dnipropetrovsk-based Oil-Trade House LLC. According to Terminal, the decision was made as part of bankruptcy proceedings initiated by PSC Naftokhimik Prykarpattia…

Forecast

Europe: An Italian-Style Divorce?

Even inveterate optimists on the markets are losing not only patience, but also confidence in the political and administrative machinery of the eurozone. What is more, the process is nearing the point of no return, as all of the «successful» operations by the European Central Bank to ensure long-term refinancing, and statements by politicians about bazookas and protective screens, provide only a temporary boost to the faith.

Time To Lower

According to economic forecasts given by the Psyche Center on the basis of its regressive analytical model, the price of major fuel brands this week will not change significantly. The average retail price of A-92 and A-95 petrol to DSTU 4063:2001 standards and that of summer-type 0.2-62 diesel fuel to DSTU 3868-99 standards will be UAH 10.86, UAH 11.11 and UAH 10.27 per liter respectively. A liter of propane-butane will cost UAH 6.72. A-95 petrol will be overpriced by 44 kopecks, A-92 and liquefied natural gas by seven and 31 kopecks respectively…

Trade

On The Rise

In April 2012 the statistical agencies of several European countries recorded historical highs for retail prices of fuel. Petrol prices at some gas stations in France, Italy, Greece have broken the psychological barrier of two euros per liter. In the first three months of this year, fuel in Hungary, Poland, Bulgaria, Spain and Latvia rose in price by 14-15%, having become perhaps one of the major factors of inflationary growth in all EU member states. In January-March, petrol prices remained unchanged only in Malta…

Raw Materials

Odesa-Brody Oil Pipeline Left Without Oil

Ukrtransnafta, the operator of Ukraine’s oil transportation system, January through March 2012 did not pump crude oil through the Odesa-Brody trunk oil pipeline in the direction of the Belarus-based Mozyr oil refinery, which did not place bids…

You can read full articles in journal «Terminal: Oil Review» №18(604) 7 May 2012

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