Public joint-stock company Ukrnafta at an auction on July 29 held on the Ukrainian Interbank Currency Exchange (UICE) sold 298,600 tonnes of oil, the exchange has told Interfax-Ukraine.

According to the report, oil was sold at the starting price of UAH 9,221 per tonne.

As reported, Ukrnafta at an auction on May 27, 2013, sold 343,600 tonnes of oil on the Ukrainian Interbank Currency Exchange (UICE) at the initial price of UAH 9,600 per tonne. Another 38,950 tonnes at the same price was sold by UkrCarpatOil JV, Kashtan Petroleum, Boryslav Petroleum Company, Chernihivnaftogaz and private joint-stock company Gals-K.

In addition, Ukrnafta sold 11,000 tonnes of gas condensate at the initial price of UAH 10,022 per tonne (UAH 110.242 million).

According to the company's report, in the first half of 2014 it sold 870,816 tonnes of oil for UAH 5.853 billion.

According to the Energy and Coal Industry Ministry, in H1, 2014 the company cut oil extraction by 3%, to 894,800 tonnes and gas condensate output – by 29.5%, to 66,700 tonnes. Gas extraction fell by 1.2%, to 7.522 billion cubic meters, including a decline of 0.8% in natural gas output, to 7.436 billion cubic meters.

Naftogaz Ukrainy owns a 50% plus one share stake in Ukrnafta, and a group of companies related to the shareholders in PrivatBank (Dnipropetrovsk) - about 42% of the shares.