Work

State policy on provision of strategic stocks of petroleum products in the structure of the state reserve

Year: 2024

Type: article

Abstract: The object of research is the state policy on provision of strategic stocks of petroleum products in the structure of the state reserve. The article defines the importance of reserving for ensuring the strategic needs of the state in the state reserve system of Ukraine of such resources as oil, petroleum products, fuel and lubricants. There were established the factors of influence that require the transformation of approaches to the formatting the state reserve of strategic materials. It was proved the need to create a special model of state management of petroleum products, fuel and lubricant reserves in the structure of the state reserve. It was disclosed the peculiarity of the functioning of the oil transportation and storage market as an alternative to the state reserve system as for Ukraine. It was made an analysis of the Ukrainian legislation regarding the formation of the strategic reserve of oil and petroleum products. It was investigated the foreign experience of state policy in the field of reserving strategic reserves of oil and petroleum products. There were explored the ways of revealing the potential of legal adjusting of the processes of forming the strategic state reserve in Ukraine. There were developed the directions for improving the state policy in Ukraine regarding the formation of reserves of petroleum products based on the example of foreign countries. It was proved the expediency of expanding various forms of involvement of private sector entities in the processes of forming the state strategic reserve. There were determined the peculiarities of the model of interaction between the state and the private sector in this matter. There were prognosed further trends in the development of the global oil and oil products storage market. There were identified the potential opportunities for expanding Ukraine's participation in the global oil and oil products storage market. It was disclosed the mechanisms of state participation in the process of forming strategic reserves of oil and oil products in foreign countries. There were also determined the further need for the formation of the Ukrainian market for the storage of oil and oil products as an element of the state reserve system.

Source: Technology audit and production reserves

DOI: 10.15587/2706-5448.2024.314545

Authors: Oleh Chechel, Alla Bashuk

Institutions: Open International University of Human Development Ukraine, Taras Shevchenko National University of Kyiv

Language: English

Topic: Global Energy Security and Policy

Subfield: General Energy

Field: Energy

Domain: Physical Sciences

SDGs: Peace, justice, and strong institutions, Industry, innovation and infrastructure

Open Access status: gold

Estimated APC paid: $75