Business news from Ukraine

Business news from Ukraine

TANK FARM FOR STORING STRATEGIC OIL MAY BE BUILT AT PIVDENNY MARITIME TERMINAL

NJSC Naftogaz Ukrainy is studying the issue of building a tank farm for storing strategic reserves of oil and petroleum products at the site of the Pivdenny maritime oil terminal (Odesa region), the company said in a press release published on August 20 with reference to acting CEO Yuri Vitrenko who spoke about it during his trip to the site on 19 August.
“The terminal where we are now is a critical element of the oil transmission system of Ukraine with a huge potential for development. We intend to develop it to boost the reliability of supplying Ukraine with oil. This is an extremely important platform for creating a strategic oil reserve,” he said.
At the same time, Vitrenko said that the strategic oil reserve is necessary both in accordance with European rules and in view of the fact that Ukraine is actually in a state of war with Russia, and still does not have a strategic oil and oil products reserve.
According to the head of Naftogaz, at the first stage it is about the construction of a reservoir for strategic reserves with a capacity of about 120,000 tonnes at the Pivdenny maritime oil terminal site. In general, the first stage of the project may include the construction of up to four tanks.
Pivdenny maritime oil terminal is connected to the Druzhba oil trunk pipeline system near the city of Brody (Lviv region) through the Odesa-Brody pipeline with a length of 674 km and an annual capacity of 9 million tonnes. It was launched in 2001.

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PIVDENNY SEAPORT INCREASES TRANSLOADING BY 25%

Pivdenny Sea Port (formerly Yuzhny Sea Port, situated in Odesa region), the largest seaport in Ukraine in terms of transshipment volume, increased transshipment by 25.5% in January-August 2020 as compared for the same period in 2019, to 42.045 million tonnes.
According to the website of the Ukrainian Sea Ports Authority (USPA), in the eight months Pivdenny port increased transhipment of export cargo by 26.5%, to 31.704 million tonnes, of import cargo by 21%, to 5.245 million tonnes and of transit freight by 18.3%, to 4.818 million tonnes. There were 22 times more coastal freight handled, 277,970 tonnes.
According to goods nomenclature, the port increased handling of bulk cargo by 26.4% in January-August 2020, to 3.673 million tonnes, of dry bulk cargo by 27%, to 35.215 million tonnes and packaged goods by 10.8%, to 3.156 million tonnes.
Transhipment of containers accounted for 165,591 TEU (up by 26.7%).
Pivdenny seaport was founded in 1978.

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