Ukrtatnafta

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Ukrtatnafta
Private
Industry refining
Founded 1995
Headquarters Kremenchuk, Ukraine
Key people
Serhiy Glushko (CEO)
Revenue Increase $1.3 billion USD
Number of employees
4,000
Website http://www.ukrtatnafta.com/

Ukrtatnafta is a Ukrainian oil refining company founded in 1994, and 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[edit]

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]

References[edit]

  1. ^ "Ukrtatnafta, Joint-Stock Company". rada.com.ua. Retrieved 2009-09-08. 
  2. ^ "Ukraine deputy PM says Kremenchug head illegal". Reuters. 2007-10-24. Retrieved 2009-01-11. 
  3. ^ a b "O.A.O. Tatneft - Arbitration against Ukraine". Reuters. 2008-03-17. Retrieved 2009-01-11.