On Wednesday, July 13, was held a round-table on discussion "European quality of petroleum products of the domestic production: realias, opportunities, prospects". In the framework of the round table the most important issues discussed was the development of the processing industry and wholesale purchases of petroleum products on the domestic market, as well as the current state of the market and prospects of its further development.
The main purpose of the roundtable was a demonstration of the benefits of sales through the electronic trading system of Ukrainian Energy Exchange that allowed PJSC "Ukrgasvydobuvannya" significantly increase the level of competition and to earn extra income at the expense of free market pricing.
When discussing these issues, the management of PJSC "Ukrgasvydobuvannya" and market participants actively discussed the use of the exchange trading platforms and, as a consequence, improving interaction between State mining company with market participants.
In the course of the round table spoke Chairman of the Board of PJSC "Ukrgasvydobuvannya" Oleg Prokhorenko: "Over the last year, PJSC "Ukrgasvydobuvannya" actively working on a number of projects aimed at the modernization of it’s refining assets and improve the performance properties of the fuel. This allowed the company to start the production of competitive gasoline of the Euro 4 standard. Next step - the transition to production of diesel fuel Euro 4 standard. Future plans include the release of Euro 5 standard oil products".
"Use of exchange trading has become for us as market experts, the indicative, which can be safely invoked in the study of market or price dynamics. The market is being consolidated and continues with the formation of transparent rules of the game. As a result, we see that every quarter the number of participants on the open exchange trading is growing and this indicates that the market tends to equal and fair working conditions - only then can we expect that it will come out of the shadows," said the Director of the company, a leader in providing consulting services UPECO Oleksander Sirenko.
As a result of the round table, experts of the Exchange and PJSC "Ukrgasvydobuvannya" has come to the conclusion that further intensive development of the exchange mechanisms on the energy market will improve the efficiency not only of individual public companies, but the state as a whole and will strengthen the growth of GDP at the end of the year.
We will remind that PJSC "Ukrgasvydobuvannya" in the first quarter of the current year carried out modernization of production of petroleum products that meet European quality standards Euro-4.