One of Ukraine’s largest foreign investors is calling for protective measures on the domestic oil market.
Russian-British oil company TNK-BP, one of Ukraine’s largest foreign investors, could close its oil refinery in Lysychansk if the government doesn’t step in to help domestic refiners.
In a letter to the presidential administration quoted by Reuters news agency, German Khan, executive director of TNK-BP, half owned by oil major British Petroleum, wrote that an increase in imports had made its Lisichansk refinery loss-making.
Domestic refiners have campaigned for tariffs or quotas to be introduced on imported oil products, the production of which is subsidized in Russia, Belarus and Kazakhstan.
If the government takes the necessary measures to help domestic producers, the management of TNK-BP will consider restarting operations, the letter states.
The Energy Ministry earlier in January announced it is considering introducing import duties of 130 euros per ton on petrol and 80 euros per ton on diesel.
