Ukrtatnafta
| Company type | Private |
|---|---|
| Industry | refining |
| Founded | 1995 |
| Headquarters | Kremenchuk, Ukraine |
Key people | Serhiy Glushko (CEO) |
| Revenue |  US$1.3 billion |
Number of employees | 4,000 |
| Website | http://www.ukrtatnafta.com/ |
Ukrtatnafta is a Ukrainian oil refining company based in Kremenchuk and founded in 1994. It is one of the largest producer of oil products in the country.[1] The company operates the largest oil refinery in the country located in Kremenchuk with a capacity of 368,500 bbl/d (58,590 m3/d) and several petrol stations. Ukrainian state-owned energy company Naftohaz Ukrainy owns 43.1% of shares in Ukrtatnafta, Tatneft owns 8.6% and the government of Tatarstan owns 28.8%.[2]
Controversy
Russian oil company Tatneft has an ongoing dispute with the government of Ukraine over control in Ukrtatnafta.[3] 18% of the shares were transferred to two offshore companies allied with Tatneft, a transaction which was not recognized by Ukrainian authorities. According to the court decision, these share were handed over to Naftogaz and in October 2007, there was a management change, which is not recognized by Tatneft. In March Tatneft filed international arbitration against Ukraine.[3]
Seizure by Zelenskiy government
On November 6th, 2022 the government of President Volodymyr Zelenskiy used martial law to seize control of the company. “Such steps, which are necessary for our country in conditions of war, are carried out in accordance with current laws and will help meet the urgent needs of our defense sector.” The government of Ukraine also took control of engine maker Motor Sich, energy company Ukrnafta, vehicle maker AvtoKrAZ and transformer maker Zaporizhtransformator at the same time.[4]
References
- ^ "Ukrtatnafta, Joint-Stock Company". rada.com.ua. Retrieved 2009-09-08.
- ^ "Ukraine deputy PM says Kremenchug head illegal". Reuters. 2007-10-24. Retrieved 2009-01-11.
- ^ a b "O.A.O. Tatneft - Arbitration against Ukraine". Reuters. 2008-03-17. Archived from the original on 2013-02-01. Retrieved 2009-01-11.
- ^ Hunder, Max; Balmforth, Tom (2022-11-07). "Ukraine seizes stakes in strategic companies under wartime laws". Reuters. Retrieved 2022-11-07.