Ukrnafta, a major oil producing company, has revealed a shortage of hundreds of thousands of tons of oil withdrawn through the company close to the Privat group.
The director of Ukrnafta Serhii Koretskyi announced this in an interview with Business Censor, Ukrainian News Agency reports.
"We have not yet published financial statements, but I can tell you that the financial result is likely to be negative. It is difficult for a company to be profitable when there is a physical shortage of hundreds of thousands of tons of oil worth billions of hryvnias on the balance sheet... The State Audit Service and internal audit will be able to state the exact figure," he said.
According to Koretskyi, mutual checks should be made between Ukrnafta, Ukrtransnafta and Ukrtatnafta.
"There are also, for example, petroleum products on the balance sheet that were transferred to the commission, but we cannot confirm their presence. Ukrnafta is one of the industry leaders which cannot / does not know how to sell petroleum products and gives them to a third party to sell. It was two years ago, and all this time these oil products are almost "immobile" in the state of documents. A couple percent was sold, again, on documents. Everything else seems not to be sold. But the physical presence cannot yet be established. We turned to this third party with a demand to return fuel. How can you sell a batch of petroleum products for years?" He said.
According to Koretskyi, this company is affiliated with the Privat group.
"And so far we cannot get either a denial or confirmation that these petroleum products are there and when they will be returned. We are talking about 102,000 tons of petroleum products. The market value today is almost UAH 5 billion," added the director of Ukrnafta.
Koretskyi also noted that large volumes of petroleum products were sold with a delay in payment.
"To date, this is a receivable of almost UAH 20 billion. Most of these debts already have dubious status. For most, reserves have already been formed in accounting," he said.
As Ukrainian News Agency earlier reported, in November 2022, Ukrnafta and Ukrtatnafta (Kremenchuk oil refinery, Poltava Region) were headed by Serhii Koretskyi.
Shares of Motor Sich, Ukrnafta, AvtoKrAZ, Zaporozhtransformator (ZTR) and Ukrtatnafta companies have been alienated into state property for the period of martial law, after its termination they may be returned to their owners or their value will be reimbursed.
50%+one share of Ukrnafta belongs to the Naftogaz of Ukraine national joint-stock company, 13.6% - Littop Enterprises Limited and Bridgemont Ventures Limited, and 12.9% - Bordo Management Limited.
9.9% of the company's shares belong to other shareholders.
The ultimate beneficiaries of Littop Enterprises Limited, Bridgemont Ventures Limited and Bordo Management Limited are Ihor Kolomoiskyi and Hennadii Boholiubov.
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