Energy

Success Stories
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A list of outdated President’s Decrees, including Decree #436 “On Application of Penalties for Violation of Provisions related to Regulation of Cash Flow” was canceled by President’s Decree #418/2019 signed on June 20, 2019

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On April 25, the Parliament of Ukraine adopted in the second reading Draft Law #8449-d “On Amending Certain Laws of Ukraine Ensuring the Competitive Conditions for Electricity Production from Alternative Energy Sources”

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On March 1, the natural gas market of Ukraine finally started to work within the daily balancing regime. The daily balancing was introduced by Resolution #1437 dated December 27, 2017 of the National Commission for State Regulation of Energy and Utilities (NERC, Regulator). However, the launch of this reform was postponed several times

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The National Bank of Ukraine issued Regulation #37 amending the regulation on maintenance of cash transactions in the national currency in Ukraine

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On the session of the National Commission for State Regulation of Energy and Utilities (NERC, the Regulator), held on November 27, the Regulator approved substantial decrease of tariff rates for transborder and interstate Gas Transmission System (GTS) entry/exit points for natural gas transmission to be applied during the first year of the new regulatory period

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The Law of Ukraine #2545-VIII "On Ensuring Transparency of Extractive Industries" dated September 18, 2018 was signed by President of Ukraine Petro Poroshenko. The Law is aimed at ensuring the transparent market rules in upstream sector of Ukraine and increasing investment reliability of the country

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On September 18, the Verkhovna Rada of Ukraine passed in the second reading Draft Law #6229 “On Transparency of Extractive Industries” aimed at ensuring transparent market rules in upstream sector of Ukraine and increase investment reliability of the country

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The American Chamber of Commerce in Ukraine welcomes publication of Resolution of the Cabinet of Ministers of Ukraine #333 adopted on April 25, 2018, which provides amendments to Procedures on Granting Special Permits for Subsoil Use and Holding Auctions for Subsoil Use (approved by CMU Resolutions #594 and #614 dated May 30, 2011)

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The Cabinet of Ministers of Ukraine published its Resolution #1108 "On Amendments to Article 25 of the Procedure on State Expertise and Estimation of Reserves of Natural Resources" which provides for cancellation of the requirement to re-estimate reserves of natural resources every 5 years

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The Chamber welcomes signing Law #2314-VIII "On Amendments to Some Legislative Acts of Ukraine on Deregulation of Oil & Gas Industry" (former Draft Law 3096-d) by the President of Ukraine Petro Poroshenko. The Chamber has been actively supporting adoption of this Law for more than 5 years to simplify permitting system, decrease corruption risks in the sphere of land registration for subsoil use and accelerate allocation of land plots for drilling

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