Ukraine makes its first-ever import of American oil

At the beginning of February, a batch of USA-produced diesel fuel arrived in Ukraine, making it the first case of import of American oil products in the history of the Ukrainian market, enkorr reports, citing the Ukrpaletsistem (UPG).

"A tanker with a deadweight of 100,000 tons was accepted at the port of Hamburg, from where we pick up the product with smaller tankers of 30,000 tons and take it to our terminal in Poland. This first batch has already started arriving in Ukraine," UPG, a national company operating in Ukraine's fuel and lubricants market since 2003, said.

The company does not disclose commercial details but noted that the experience of the first deliveries indicates the prospects of continuing this work.

"Currently, the situation in Europe is very good. There are large stocks, and there is a tendency to lower prices. But we will try to increase the supply of the American product due to the logistical convenience of working with these batches and favorable pricing," the company said.

They also added that American diesel has already arrived at UPG gas stations.

"As far as I can remember, this is the first case of American oil products coming to us in history,"  Serhii Kuiun, director of the A-95 Consulting Group, commented. "This is a symbolic event because it shows how Ukraine's and Europe's markets are transformed due to anti-russian sanctions. This debunks the myth that living without russian oil products is unreal."

Reference

According to the results of 2022, UPG became the second-largest importer of diesel fuel, and in recent years it has been one of the largest wholesale sellers of diesel fuel. The UPG group of companies operates a network of gas stations with 81 units. At the end of 2022, the group announced the acquisition of the assets of the Polish company Baltchem SA Zakłady Chemicze, which owns two marine terminals in the Republic of Poland for the transshipment and storage of petroleum products.