Topic Of The Week
11/11
The list of the most important events in 2011 offered to our Dear Reader is not a rating, as it is impossible to define which of them will have the greatest impact on the development of the market. It could be the eventual failure of the fuel quality control system, which demonstrated that Ukrainian officials don’t care about the origin of the funds they get. Or it could be the fight for Libyan energy resources, which showed the entire world that an opponent’s opinion no longer has to be taken into account.
Scandals
SCANDAL OF THE WEEK: Grade A Diethyleneglycol To Be Shipped To Pjsc Ukrnafta
SHIPMENTS MUST CONTINUE
On December 26, 2011, the Higher Economic Court of Ukraine upheld an October 3, 2011, decision by Kharkiv’s Economic Court of Appeals, under which Baks LLC is to repay UAH 150,000 to PAO Ukrnafta. This fine has to be paid by the defendant for failing to meet its obligations to the plaintiff.
Forecast
NEW YEAR FORTUNE-TELLING
The year 2011 has ended. Despite numerous predictions, the eurozone still exists and the euro remains the world’s leading currency, although it has become slightly thinner relative to the dollar. Recession in the U.S. economy for some reason was not seen, and a chain-reaction of defaults in European countries did not happen. Crude oil on the raw materials market continues to enjoy strong demand, in connection with which there was neither a reduction in its production, nor the collapse of prices. However, these forecasts may still become realities in 2012.
LOW SEASON
Under economic forecasts given by the Psyche Center on the basis of a regressive analytical model, this week will not see drastic changes in the price of major petrol brands. In particular, the average retail price of A-92 and A-95 petrol produced to DSTU 4063:2001 standards and winter-type 0.2-62 diesel fuel to DSTU 3868-99 standards will be UAH 10.03, UAH 10.27 and UAH 9.64 per liter respectively. The price of propane-butane will go down to UAH 5.88 per liter.
Trade
NEW YEAR WITH OLD PROBLEMS
The nervous and depressed 2011 has left Ukrainian fuel market operators two pieces of news – good and bad. The good news was that the interdepartmental commission on international trade completed a nearly-a-year-long special investigation into the imports of certain types of oil products to our country without introducing special measures. This allowed the overwhelming majority of Ukrainian traders and all domestic consumers to breathe a sigh of relief.
Anti-counterfeit Campaign
WORKING PRESSURE
This year domestic fuel traders will witness the development of one of the notorious processes on the market: a criminal case against the head of the Neftorgsintez company Oleksiy Milchenko. Although the businessman from Zaporizhia has been accused of primitive production of petrol, the serious evidence collected against him has not translated into punishment — the court sent the case back for further investigation…
Raw Materials
A DONE DEAL
On the New Year Eve the State Service for Geology and Mineral Resources of Ukraine managed to hold a subsoil use auction. In particular, on December 28, 2011, the agency put up 14 areas for auction. Yet, four of them were disqualified: the number of bidders for two was not sufficient, and there were no bidders for the other two. Thus, ten areas were sold for a total of UAH 5.850 million, which was slightly higher than the starting price, as the target price for the offered lots was UAH 5.664 million.
You can read full articles in journal «Terminal: Oil Review» №1 (586) 9 Jan 2012
