V. COMPETITIVE BIDDING PROCEDURE
Sales information is placed at the JV PPC official site and distributed by email to potential clients 1…3 days before the day of bidding.
1st ROUND
10:00 - 11:00 hrs. Receipt of bids (sent at the address commerc.oil@ppc.net.ua).
11:00 - 11:15 hrs. Consideration of bids, determination of price for the following round, of spread between the demand and supply.
2nd ROUND
11:15 - 11:30 hrs. Announcement of the price and time of the second round.
11:30 - 11:45 hrs. Receipt of bids (sent at the address commerc.oil@ppc.net.ua) from the clients who confirm their participation in the second round.
11:45 - 12:00 hrs. Consideration of bids, determination of price for the subsequent round, of spread between the demand and supply.
Nth ROUND...
The bidding will last till the demand equals the supply.
The price for crude oil is augmented by UAH 10 each new round, unless the bidders raise the price themselves.
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