The Ukraine has started own oil exports

The Ukraine has started own oil exports for the first time within the last 6 years. Exports are executed by Prilutsky Neftenaliv registered in the Chernigov region. Within the last 2 months, the company exported 20,000 tons of oil for $13 million. The supplies are performed to the Lithuanian oil refinery ORLEN Lietuva. The founders of Prilutsky Neftenaliv are 2 Kiev structures Synthez and Gals-C Ltd. Prilutsky Neftenaliv exports oil extracted by Gals-C Ltd at 8 deposits in the Chernigov region. The company has been operating under the contract for joint operation with Ukrnafta since 1999 owning 51% in the project. Annual production is 40,000 – 50,000 tons. Gals-C Ltd claims that it’s much profitable to export oil, not to sell it in the Ukraine because oil price is usually set in the Ukraine at the special tenders and it’s usually lower than the average global price.