Business news from Ukraine

The Ukrainian Energy Association (UEA), together with specialists from the Institute of Oil Transportation, proposed President Zelensky, the Cabinet of Ministers and the Ministry of Energy a package of promising directions for the development of the oil refining and transportation of oil and petroleum products, which include the construction of a new modern oil refinery.

“These proposals have both a short-term and a long-term implementation period and should be included in the action plan for the post-war reconstruction and development of Ukraine,” the UEA said on its website.

In addition to the construction of the refinery, the UEA materials also present two more such key areas as the modernization and branching of the network of fuel product pipelines and the completion of oil pipeline routes to open new markets.

“All the proposed cases contain technical and financial and economic calculations, the implementation of which can begin now,” the association says.

At the same time, the UEA has not yet made public more detailed information regarding its proposals submitted to the president and government.

“Experts from the UEA and the Institute of Oil Transportation are convinced that taking into account these proposals will increase the level of Ukraine’s energy independence and send a signal to global energy companies and international financial organizations to invest in restoring Ukraine’s energy sector,” the association said.