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Business    

Ukraine??™s oil shipper to buy crude oil for state gasoline reserves
Journal Staff Report

KIEV, May 7 - Ukraine??™s oil shipping monopoly UkrTransNafta plans to buy 200,000 metric tons of crude oil within the next two months in order to increase the country??™s reserves of petroleum products, Energy and Fuel Minister Yuriy Boyko said Monday.

The oil will be purchased from Russia and will be refined in May and June at Linos, a Ukrainian oil refinery owned by Russian oil major TNK-BP, according to source at the ministry.

Ukraine managed to accumulate 85,000 metric tons of petroleum products in reserves as of early May, but plans to boost the reserves to about 250,000 tons that would be enough for up to 10 days of the country??™s domestic consumption.




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