On 29 September, DiXi Group held an online discussion of the draft Law on the National Extractive Sector Regulatory Commission. The event was attended by representatives of the parliament, ministries, and other government agencies, and also, international financial organisations and donors.

The draft Law on the National Extractive Sector Regulatory Commission proposes a new model of managing extractable resources by separating regulatory and research functions and creating legal preconditions for financial strength and independence of the authority that will be responsible for regulation of the extractive sector in accordance with today’s international practices.

DiXi Group President Olena Pavlenko thanked the participants of consultations for their comments concerning the draft law and noted the interest and readiness of public authorities to discuss this document in order to make it the most effective and quality instrument.

“This draft law is very important not just from the viewpoint of organising a transparent and fair oil and gas production process the right way. It is also important in the context of Ukraine’s announced strategy of joining the [European] Green Deal,” Olena Pavlenko said in her introductory speech. “In the future, the extractive sector regulator Ukraine is going to establish will have to regulate the production of critical raw materials as well. I think that the model and operation of this regulator is the subject of special attention both for Ukraine and its international partners.”

The consultations were moderated by DiXi Group Manager for Sustainable Development, Olha Polunina. Every attendee had the opportunity to comment on the proposals concerning the draft law and answer questions.

During the discussion, reservations and proposals concerning the draft law were voiced by the Ministry for Environmental Protection and Natural Resources, the Ukrainian Geological Survey, MPs, representatives of USAID’s Energy Security Project, and other stakeholders.

The document prepared by DiXi Group in collaboration with KPMG Ukraine will be finalised to accommodate the results of the discussion and written comments.

This event was made possible thanks to the support of the American People, provided through the United States Agency for International Development (USAID) within the framework of the Energy Sector Transparency project implemented by DiXi Group NGO. The opinions expressed by the attendees do not reflect the views of USAID or the United States Government.

Source: DiXi Group