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27.05 27.35
30.7 31.25
Economy 2019-03-21T04:03:35+02:00
Ukrainian news
Ukrnafta Shareholders To Consider Conclusion Of Agreements For Sale Of 4.1 Billion Cubic Meters Of Gas To Naft

Ukrnafta Shareholders To Consider Conclusion Of Agreements For Sale Of 4.1 Billion Cubic Meters Of Gas To Naftogaz At March 28 Extraordinary Meeting

The shareholders of the Ukrnafta company, the largest oil producer in Ukraine, will consider conclusion of agreements on sale of 4.062 billion cubic meters of natural gas from the Naftogaz of Ukraine national energy company at a price to be determined via the Import Parity Price (IPP) formula at an extraordinary meeting scheduled for March 28.

This is stated in the materials for the extraordinary meeting of Ukrnafta shareholders, the Ukrainian News Agency reports.
According to the materials, the company expects its shareholders to approve the conclusion of three contracts for the purchase of natural gas at prices based on the IPP formula: 1.25 billion cubic meters, 750 million cubic meters, and 2.062 billion cubic meters of gas.
According to the Naftogaz of Ukraine national energy company, the items on the agenda of the Ukrnafta shareholders meeting include a number of proposals aimed at clearing the company's tax debt.
These proposals were submitted in implementation of Prime Minister Volodymyr Groysman’s instructions, which are aimed at resolving the situation involving the company’s tax debt.
According to Naftogaz of Ukraine, an option that is being proposed to the shareholders of Ukrnafta envisages signing agreements under which Naftogaz of Ukraine will purchase about 4 billion cubic meters of gas from Ukrnafta.
Ukrnafta will use the payment for this volume of gas exclusively for full payment of its debts to the state budget, including penalties.
As Ukrainian News Agency earlier reported, Ukrnafta increased oil production by 69,000 tons or 5% to 1,448,000 tons in 2018, compared with 2017.
Ukrnafta made a net profit of UAH 101.771 million in 2017 (based on the international financial reporting standards)
The company's revenue increased by 19% or UAH 4,328.234 million to UAH 26,906.984 million in 2017, compared with UAH 22,578.750 million in 2016 (based on the international financial reporting standards).
The Naftogaz of Ukraine national energy company owns a 50% plus 1 share in Ukrnafta, Littop Enterprises Limited 13.6%, Bridgemont Ventures Limited 13.6%, and Bordo Management Limited 12.9%.
Other shareholders own 9.9% of the shares in the company.
The company operates 1,946 oil and 172 gas wells and owns 46 drilling rigs.
In addition, Ukrnafta owns 537 gasoline filling stations.

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