Ukrainian oil refinery to purchase Azerbaijani oil of 4 mln tons

Baku. 3 November. REPORT.AZ/ 4 mln tons of Azerbaijani oil will be transported to the Ukrainian Kremenchug oil refinery, 1.3 mln tons per year for the period of 3 years.

Report informs citing the Ukrainian media, a protocol of intent was signed yesterday between "Ukrtransnafta" and "Ukrtatnafta" (plant's operator). The transportation is expected to start in 2017.

The Ministry of Energy and Coal Industry of Ukraine believes that the supply of Azerbaijani oil to the Kremenchuk oil refinery will allow reduction of dependence of the country's oil refinery complex on Russia. Also, it was noted that the agreed volume will not only provide the plant with oil, but also increase power of the private refineries. This will help to reduce dependence on imported fuel.

Andriy Pasishnik, "Ukrtransnafta" First Deputy Director General, said that the first batch of the oil will be delivered within the next 2 months. According to him, the Cabinet of Ministers' agreement is expected to be reached in the coming weeks.