On 23 May 2012 the Cabinet of Ministers of Ukraine (CMU) adopted two Resolutions on Holding Tenders for the Award of Production Sharing Agreements (PSA) for the Extraction of Hydrocarbons within the Foros and Skifska Areas…more
On 11 December 2011 the delegates of the Durban Climate Conference (COP17/CMP7) have extended Kyoto Protocol and established a road map to a new global binding agreement to tackle the emission of greenhouse gases…more
Over the past few months the Ukrainian Parliament has made two important changes to the legislative framework governing production sharing agreements for exploration and extraction of minerals. These
amendments have been…more
Despite only coming into force on 1 January 2011 the Tax Code of Ukraine (the “Code”) has already been amended by the Ukrainian Parliament nine times (the corporate profit tax section of the Code became effective on…more
On 22 June 2011, the Cabinet of Ministers of Ukraine adopted the long-awaited procedure to establish a new system of registration of rights to immovable property in Ukraine (Resolution No. 703 “On Approving the Procedure…more
On 17 June 2011, the Ukrainian Parliament passed a law amending Article 17-1 of the Law of Ukraine “On the Electric Power Industry” in respect of a so-called ‘local content requirement’…more
The Gas Market Law will now allow the Ukrainian oil and gas monopoly - the National Joint-Stock Company “Naftogaz of Ukraine” (“Naftogaz”) and its subsidiaries, to export natural gas out of Ukraine. The…more
The Cabinet of Ministers of Ukraine has recently adopted Resolution No. 581, establishing a procedure for tax exempt import of machinery, vehicles and other equipment that falls under the customs codes stipulated by Article 7 of…more
The Parliament of Ukraine has recently amended the Law “On Electric Power Industry” No. 575-97-BP, dated 16 October 1997 (the “Law”) , by introducing into Article 17(1) of the Law, an additional state…more
2011 has served as a transition period for the Ukrainian oil and gas industry even if there are no particular accomplishments or dramatic changes to speak of. This transition period should pave the way for important and…more
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