New players have appeared on the Ukrainian market of jet fuel and Ukrainian company Ukrtatnafta has strengthened its position on this market because of the discontinuation of supplies of jet fuel from Belarus to Ukraine. The A-95 consulting agency’s Director Serhii Kuyun expressed this opinion at the “Petroleum Ukraine 2016” conference on Tuesday, the CFTS correspondent reports.
The market of jet fuel was almost completely divided between Ukrtatnafta (53%) and the Belarusian company BNK-Ukraine (41%) in 2015, but the number of suppliers has more than doubled now. "This is a celebration of diversification," Kuyun said.
The A-95 consulting agency expects the market of jet fuel to be divided as follows in 2016: Ukrtatnafta 59%, Lithuania 14%, Azerbaijan 10%, Israel 9%, Turkmenistan 5%, and others 3%.
According to Kuyun, vendors have begun lowering prices because the market of jet fuel is currently saturated.
As reported earlier, BNK-Ukraine stopped supplying jet fuel to Ukraine in January this year because of problems at Ukrainian customs.
The Belarusian company’s reason for stopping deliveries of jet fuel is court rulings in favor of the State Fiscal Service, which has decided to raise the rate of the excise duty on jet fuel by moving jet fuel from the category of "fuel for jet engines" to the category of "special gasoline" in the "light distillates" subgroup. As a result, the Belarusian company was forced to pay an excise duty of EUR 202 instead of EUR 23 per ton. This made BNK-Ukraine’s product uncompetitive on the Ukrainian market.
