The State Operator For Non-Lethal Acquisition will use data from the Argus informational base – an international independent price agency covering global commodity and energy markets – to determine the real cost of fuel and lubricants. DOT procures Argus services, which will provide access to real market quotations, analytics, and tools for more accurate data processing regarding the cost of fuel and lubricants.
Argus quotations are benchmark indicators for pricing energy carriers, commodities, and transportation worldwide. Companies, regulators, and tax authorities in 160 countries use Argus data for decision-making, situational analysis, risk management, trade facilitation, and long-term planning.
According to Article 41 of the Law of Ukraine "On Public Procurement," Argus is designated as an official source of price information, upon which the possibility of changing significant terms of a procurement contract is based in the event of changes in exchange quotations or regulated price indicators and norms.
Thus, Argus data will enable the State Operator For Non-Lethal Acquisition to determine better the cost of fuel and lubricants procured for the Armed Forces of Ukraine and conduct tenders more effectively.
