• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Middle East on brink: Oil tankers attacked off Oman
  • 8 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 54 mins The Plastics Problem
  • 3 hours Emissions Need To Be Halved To Avoid 3C Warming
  • 3 hours Confirmed: UN Expert Urges Probe Of Saudi Prince Over Khashoggi Killing
  • 52 mins OPEC, GEO-POLITICS & OIL SUPPLY & PRICES
  • 45 mins Hormuz and surrounding waters: Energy Threats to the World: Oil, LNG, shipping markets digest new risks after Strait of Hormuz attack
  • 20 mins Coal Boom in Asia is Real and a Long Trend
  • 1 hour The Magic and Wonders of US Shale Supply: Keeping energy price shock minimised: US oil supply keeping lid on prices despite global risks: IEA chief
  • 4 hours The Pope: "Climate change ... doomsday predictions can no longer be met with irony or disdain."
  • 1 hour Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 1 hour US to become net oil exporter in November: EIA
  • 37 mins Trudeau approves Trans Mountain Pipeline
  • 5 hours Fareed Zakaria: Canary in the Coal Mine (U.S. Dollar Hegemony)
  • 3 hours Hydrogen FTW... Some Day
  • 2 hours US Shale Drilling lacks regulatory body.
Tanker Strikes Spell Doomsday Scenario For OPEC

Tanker Strikes Spell Doomsday Scenario For OPEC

Today’s oil tanker attacks in…

Oil Prices Jump On Hopes Of End To U.S.-China Trade War

Oil Prices Jump On Hopes Of End To U.S.-China Trade War

Oil prices erased earlier losses…

Ukraine Abandons Plan To Attach National Pipeline Company To Energy Ministry

Ukraine gas transit

The Ukrainian government reversed a previous decision to bring the nation’s natural gas transport company under the direct control of the Energy Ministry.

Deputy Prime Minister and Economy Minister Stepan Kubiv said he will not carry out plans to detach Ukrtransgaz from the government-run gas company Naftogaz, according to reports on Monday.

The government announced the coming change in Ukrtransgaz’s oversight nine days after senior-level officials had made the decision. It drew massive criticism from the citizenry in light of the way pre-2014 government officials despoiled national gas companies for their wealth.

Intellinews attributed the reversal to pressure exerted by Ukraine’s Western creditors, who considered the “power grab” as a deviation from agreed-upon conditions that led to the establishment of credit lines for much-needed natural gas supplies in the wintertime.

Specifically, the move would have violated the terms of Kiev’s $300 million loan from the European Bank for Reconstruction and Development (EBRD).

“I am ready to admit, that in making the decision we did not undertake proper consultations – this is a technical, and in some respects, political moment. In connection with this, my decision as a minister [from Sept. 7] has been suspended,” Kubiv said in a statement.

The International Monetary Fund (IMF) recently decided to resume its payments to the Ukrainian government for a $17.5 billion loan it granted to the country in exchange for large-scale economic and political reforms.

Overshadowed by events in Syria, the situation in Ukraine remains less than pleasant. The Ukrainian hryvnia continues to flounder, the nation’s inflation rate is second worst globally ahead of only Venezuela, and middling growth projections provide little hope for a nation whose GDP contracted nearly 10 percent last year. Further, fighting has intensified on the outskirts of Donetsk in recent weeks, culminating in the capture of a United Nations’ monitoring officer.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News