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In the News

Ambassador: Azerbaijan’s Oil Supplies to Ukraine Should Be Economically Viable

Trend.Az

April 30, 2013

Ambassador: Azerbaijan’s oil supplies to Ukraine should be economically viable

Azerbaijan, Baku, April 30 / Trend, V. Imanov, E. Ismaylov /

Azerbaijan and Ukraine will examine the possibility of Azerbaijan's oil supplies to Ukrainian refineries in detail at the next meeting of the intergovernmental commission on economic cooperation, Ukrainian ambassador to Azerbaijan Alexander Mishchenko said on Tuesday.

According to him, along with the political component, the commercial aspect is also very important, as it is a commercial project as well.

"We are negotiating this issue and expect a meeting of the working group of experts to be held in the near future. I think this issue will be considered in detail at a meeting of the bilateral commission on economic cooperation, which will be tentatively held this autumn in Kiev," the ambassador said.

According to him, a working group was set up in March and is currently working both in Azerbaijan and Ukraine.

Mishchenko said earlier that there was a decline in trade between the two countries last year. This was due to the suspension of the purchase of Azerbaijani oil by Ukrainian refineries. The suspension of imports was due to the fact that refineries did not economically benefit from recycling Azerbaijani oil due to their unsuitability for the processing of light crude.

Like many refineries in the post-Soviet space, Ukrainian refineries are focused on refining heavier Russian oil. In order to ensure the processing of light oil, Ukrainian refineries are currently under renovation, the ambassador said.

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