Ukraine’s Cabinet of Ministers has removed representatives of national joint-stock company Naftogaz Ukrainy from the auction committee selling oil and gas condensate produced in Ukraine.
The resolution was approved at a government meeting on Wednesday under a proposal of the Economic Development and Trade Ministry.
“Taking into account the fact that Naftogaz is a shareholder in the companies that take part in auctions as sellers [the company holds 100 percent of PJSC Ukrgazvydobuvannia and 50 percent plus one share in PJSC Ukrnafta), it was done to avoid the conflict of interests and increase impartiality of the auction committee,” reads an explanatory note to the resolution.
Earlier the auction committee consisted of three representatives each from the Energy and Coal Industry Ministry and the Economic Development and Trade Ministry and four representatives of Naftogaz Ukrainy. After the resolution takes effect the committee would consist of four representatives from each ministry.
