JSC Ukrtransnafta has been given permission to create a licensed warehouse for providing crude oil storage services.
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.
The permission is 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 the news this week.
He said the move 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)”.
He also said that the company still 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.
For more information visit www.ukrtransnafta.com