Hard times coming for Ukraine's domestic gas extraction. Verkhovna Rada, country's parliament, raised the production tax for the gas companies up to 70 percent during the March 2 session, while previously the rate was 20 percent. This covers all the gas extraction up to 5 kilometers from the surface. Decision affects private companies, a source of 3.3 billion cubic meters of blue fuel last year, the most.
News - Page 15
March 02, 2015
Rada pushes gas production tax up to 70 percent
February 27, 2015
Subsoil users are willing to use international accounting standards EITI for greater transparency of relationships in the industry - Roman Storozhev
The lion's share of the income of the state budget of Ukraine formed mining companies. But ignorance of society on income from subsoil and the fair distribution of these funds often leads to the fact that there is a distrust of the companies, the distortion amounts of their income. Thanks to the implementation of the EITI standards in the first place the population as well as business and investors could watch the payments to the state subsoil and their distribution. This was stated by the president of the association "Subsoil users Ukraine" Roman Storozhev, speaking at a conference February 25, 2015 on the application of EITI in Ukraine.
February 27, 2015
EITI Secretariat calls to Ukraine to activate steps for preparation of the First Report
During the meeting with stakeholders the head of the Secretariat of Extractive Industries Transparency Initiative Jonas Moberg (Jonas Moberg) and Regional Director Richard Dion (Richard Dion) agreed to make their best efforts and actions that Ukraine managed to publish its first report in October 2015, although the stick this deadline will not be easy. Energy Minister Vladimir Demchishin during a meeting with Mr. Moberg reiterated the readiness of the Ministry of Energy and Mines to work on the implementation of the EITI. It should be noted that in the near future it is planned to sign an agreement with the World Bank and begin the necessary procedures to find an independent administrator.
February 16, 2015
Roman Storozhev: As part of the adoption of the new Law "Abuot the natural gas market" need to legislate the norm of non-intervention of the state
As part of the adoption of the new Law of Ukraine "Abuot the natural gas market" need to legislate the norm of non-interference of the state in the functioning of the market except for the cases when it is necessary to eliminate the force majeure on the market, or provide other general interests, but only if that such intervention will be short.
March 18, 2015
PGI estimates recoverable reserves of shale gas in Poland in 768 bcm. m, the proven reserves of conventional gas - in 134 billion cubic meters
Compared with proven reserves of conventional "blue fuel" in Poland anticipated volumes available for the extraction of "heavy" gas can be significantly more reports with reference to the preliminary estimates of the Polish Geological Institute (PGI) Warsaw correspondent for Bloomberg Marek Strzelecki.