Business news from Ukraine

Business news from Ukraine

UKRAINE INCREASES CRUDE OIL IMPORT 1.6-FOLD IN 2020

21 January , 2021  

Ukraine in 2020 increased import of crude oil (according to foreign trade activity code 2709) 1.6-fold (by 454,959 tonnes) compared to the same period in 2019, to 1.246 million tonnes.
According to the State Fiscal Service, in 2020, crude oil was imported for $409.167 million, which is 1.5% less than a year earlier ($431.735 million).
Some crude oil for $265.076 million came from Azerbaijan (the share is 64.78%), the United States for $98.445 million (24.06%), Libya for $45.555 million (11.13%) and other countries for $0.091 million (0.02%).
The export of crude oil by Ukraine in 2020 amounted to 80,000 tonnes for $24.351 million. Oil was exported to Belarus by Ukrtransnafta, which in the spring of 2020 bought Azerbaijani oil when the prices fell with its subsequent sale to its subsidiary BNK.
In 2019, Ukraine did not export oil.

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