Ukraine launches monitoring of petroleum products: what will change

The Cabinet of Ministers of Ukraine has approved a series of procedures for monitoring the quality, safety, and volumes of petroleum products, as well as the functioning of the electronic reporting system. These measures are aimed at improving regulation of the petroleum products market and fulfilling international obligations under the Association Agreement with the EU. This was announced by the Government's representative in the Verkhovna Rada, Taras Melnychuk.
In particular, it was approved:
- The Procedure for Monitoring the Quality and Safety of Oil Products establishes procedures for collecting and analysing data on the compliance of oil products with technical regulations and state standards.
- The Procedure for Monitoring Volumes in the Markets of Oil, Oil Products and Liquefied Natural Gas regulates the accounting of supply, import, production and export of these resources.
- Procedure for the operation of the electronic reporting system – provides automation of information collection for market control.
According to the Government representative, the new procedures will not only improve market transparency but also increase Ukraine's energy security.
The introduction of an electronic reporting system will also simplify access to information for market participants and government agencies.
The approved procedures are part of Ukraine's commitments under the Association Agreement with the EU. In particular, this concerns the harmonisation of national legislation with European standards and the creation of minimum oil reserves to ensure the country's energy stability.