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Ukraine and EU Commission to discuss strategic oil reserve
The Ukrainian government and the European Commission will discuss several unsolved issues in relation to the program of creating a strategic reserve of oil and refined products in Ukraine. In late February Ukrainian Prime Minister Yury Yekhanurov ordered that the development of this program with due account for the experience of EU countries should be completed by the end of 2006. Related instructions were given to the Fuel and Energy, Economy, and Finance Ministries, as well as other governmental agencies. The plan is to create a three-month stockpile of refined oil products over a period of several years. For Ukraine, this volume is estimated at 2.3m tonnes of gasoline and diesel fuel.
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