Public joint-stock company Ukrtatnafta (Kremenchuk oil refinery, Poltava region) saw a 52.4% fall in net loss in 2016, to UAH 202.544 million.

According to a consolidated report of the company, net revenue fell by 7%, to UAH 23.84 billion, and gross profit declined by 47.4%, to UAH 1.27 billion.

Ukrtatnafta saw UAH 20.819 billion of revenue from selling fuel on the domestic market and UAH 752.157 million from exporting fuel.

The company sold 1.898 million tonnes of products on the domestic market (petroleum, diesel fuel, bitumen, liquefied gas, fuel oil, jet fuel, mixed non-conventional fuel and petroleum benzene) and exported 120,790 tonnes of products.

The company intends to spend UAH 272 million for investment in 2017. General spending on repair and purchase of equipment will total UAH 385 million.

According to the report, the company in 2016 saw an 8.9% rise in crude oil refining, to 2.195 million. Last year the company did not provide services on a tolling basis.

Kremenchuk oil refinery in 2016 produced 254,787 of A-95 petroleum (46.1% up), 318,218 tonnes of A-92 petroleum (4.7% down), 399,170 tonnes of diesel fuel (22.7% down), 276,050 tonnes of M-100 fuel oil (2.8% up), and 163,123 tonnes of jet fuel (22.8% up).

Ukrtatnafta sold 223,748 tonnes of A-93 petroleum in 2016 (43.5% up year-over-year), 309,708 tonnes of A-92 petroleum (10.2% down), 394,806 tonnes of diesel fuel (5.1% down), 290,356 tonnes of M-100 fuel oil (13.5% up), and 162,573 tonnes of jet fuel (21.9% up).

Kremenchuk oil refinery is operated by Ukrtatnafta, whose management has been controlled by the shareholders of PrivatBank (Dnipro) since October 2007.