Ukrtransnafta, the operator of Ukraine’s oil transportation system, has extended its contract with the Transneft company (Russia) for transit of crude oil through Ukraine until January 1, 2030.
Ukrtransnafta announced this in a statement on Facebook, the Ukrainian News Agency reports.
"On December 3, Ukrtransnafta and Transneft entered into a supplementary agreement to the contract for provision of oil transportation services through Ukraine, which extends the validity of the contract by 10 years – from January 1, 2020 to January 1, 2030," Ukrtransnafta said in the statement.
Ukrtransnafta’s Director General Mykola Havrylenko and Transneft’s Vice President Sergey Andronov signed the document at the “Energy in the 21st Century” international conference, which was held in Zagreb (Croatia).
According to the statement, in addition to extending the contract, the supplementary agreement between Ukrtransnafta and Transneft activates a number of the contract’s provisions, taking account of the current state of changes on the oil transportation services market in the region.
The basic principles of cooperation between Ukrtransnafta and Transneft remain unchanged. In particular, the procedure for paying for services and the mechanism for interaction at the level of the two oil transport operators’ technical services remain unchanged.
As Ukrainian News Agency reported earlier, Ukrtransnafta’s net profit reduced by UAH 678 million or 31.7% to UAH 1.463 billion in 2018 (based on the international financial reporting standards).
The company's net revenue increased by UAH 85.3 million or 2.3% to UAH 3.883 billion.
The Naftogaz of Ukraine national energy company owns 100% of the shares in Ukrtransnafta.
Ukrtransnafta has a system of trunk oil pipelines with a total length of 4,767 kilometers and 51 pumping stations.
The oil transport system includes 11 storage tanks with a combined capacity of 1,083,000 cubic meters.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.