Boyko says Ukraine can cut oil imports; talk of duties revives

Ukrainian Energy Minister Yuriy Boyko said that share of imported oil products on the market should be cut to 15%, back to the level in 2004 when Ukraine imposed duties on oil imports, Interfax reported on Tuesday, citing comments Boyko made in a TV interview. In the interview, Boyko said Ukraine would not bring back import duties not announce, but another report by Interfax citing an undisclosed source said the Interagency Commission on International Trade was planning to hold a meeting on September 6 that could result in the implementation of import duties on oil products. Antonina Davydenko: The revival of talk about import duties, which were suspended  earlier this year due to the turmoil in global oil markets, carries negative implications for Galnaftogaz (UX: GLNG UK). If implemented, the duties could significantly impair the fuel retailer’s margins; about 100% of Galnaftogaz’ supplies are imported.