The Ministry of Energy has appointed the entity responsible for managing the reporting of minimum oil stock levels.

As reported by Ukrinform, this information comes from Market Operator.

"The Ministry of Energy of Ukraine, by order No. 41 dated January 29, 2025, in accordance with the Law of Ukraine 'On Minimum Stocks of Oil and Oil Products,' has designated JSC 'Market Operator' as responsible for administering the electronic reporting system concerning minimum stocks of oil and oil products," the statement says.

It is noted that the development and implementation of the system will occur in several phases. Specifically, it is necessary to establish a regulatory framework for its operation, determine data submission formats and interaction mechanisms with businesses, and conduct platform testing involving key market participants.

As previously reported, in December 2024, the Cabinet of Ministers approved the procedure for monitoring the quality and safety of oil products.

The Verkhovna Rada of Ukraine adopted a law on the formation of minimum stocks of oil and oil products on November 21, 2023. The document stipulates that the volume of minimum stocks must correspond to at least 90 days of average daily net imports or 61 days of average daily domestic consumption, depending on which of the two figures is larger.

Photo: Ukrnafta