American Chamber of Commerce in Ukraine: Ukrainian oil and gas sector requires significant changes
The Ukrainian oil and gas sector requires significant changes, the American Chamber of Commerce in Ukraine (the Chamber) has said in a press release.
The Chamber identified three main categories of issues which, if resolved effectively, would transform the situation in the oil and gas sector and lead to Ukraine being recognized as an attractive place for doing oil and gas business. In particular, international business community believes that further improvement of legislation on taxation of hydrocarbons’ production; conducting the regulatory reform and practical implementation of the Law "On Natural Gas Market."
"It is important to resolve these three issues simultaneously because they are interrelated. The practical implementation of the Law “On Natural Gas Market” will lead to a transparent gas market and attract investments. However, without further improvement of legislation on taxation of hydrocarbons’ production, even if the Law "On Natural Gas Market" implemented and regulatory reform conducted, an attractive investment environment won’t be created," - commented Andy Hunder, President of the American Chamber of Commerce in Ukraine.
"White Paper on Reforms in Oil & Gas Sector" (more detailed information: http://old.chamber.ua/2016/Weekly/docs/Policy/Gas_Oil_WhitePaper_UKR.pdf) is an exclusive publication of the Chamber. The main goal of this publication is to communicate the position and vision of independent private companies, Members of the American Chamber of Commerce in Ukraine, for oil and gas sector reform as well as priorities for 2016 to government authorities and experts.