Economy 2022-06-15T07:08:47+03:00
Ukrainian news
Cascade Investment Fund Acquires 19.9% In JKX Oil & Gas

Cascade Investment Fund Acquires 19.9% In JKX Oil & Gas

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Cascade Investment Fund that belongs to co-chair of the Vidrodzhennia Party parliamentary group, Vitalii Khomutynnik, has acquired the 19.92-percent stake in JKX Oil & Gas plc (the United Kingdom), engaged in production of oil and gas in Ukraine.

This is said in a statement of the company posted on the official website of the London Stock Exchange, Ukrainian News Agency reports.
Cascade Investment has acquired the 10.04-percent stake in JKX Oil & Gas, and also received 9.98% in voting right in the company through financial instruments that can be transformed into shares.
At that the share of Proxima Capital Group (the Russian Federation) decreased from 19.97% to 9.97%.
As Ukrainian News Agency earlier reported, in 2017, JKX Oil & Gas Plc (Britain), which engages in oil and gas production in Ukraine, reduced its losses by USD 19.4 million to USD 17.7 million in 2017, compared with 2016.
The company's revenue was USD 76.4 million in 2017, which is 3.5% or USD 2.6 million more than its revenue in 2016 (USD 73.8 million).
The company's revenue from operations in Ukraine increased by 4% (USD 2.2 million) to USD 57 million in 2017.
In particular, sales of natural gas in Ukraine generated a revenue of USD 35.8 million, sales of crude oil and condensate USD 16.5 million, and sales of liquefied gas USD 4.6 million in 2017.
JKX Oil & Gas reduced its losses 2.2-fold to USD 37.1 million in 2016.
The company's revenue reduced by 16.6% - from USD 88.5 million to USD 73.8 million - in 2016.
The main asset of JKX Oil & Gas in Ukraine is Poltava Petroleum Company, which mines hydrocarbons at the Ihnatievske, Molchanovske, Novo-Mykolaevske, Rudenkovske, Zaplavske, Yelizavetovske Chervonoyarske, and Skhidne deposits in the Poltava region.
Eclairs Group Ltd (which the mass media link to Ihor Kolomoiskyi and Hennadii Boholiubov) owns 27.54% of the company, Proxima Capital Group (Russia) 19.92%, and Glengary Overseas Limited 11.45%.

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