Naftogaz Ukrainy is concerned about the attempts of the leadership of PJSC Ukrnafta to counteract holding an auction for the sale of oil and gas condensate according to new rules aimed at achieving the fair market price of energy resources, the press service of the state holding has stated.

According to its data, after the auction committee had determined the starting price of oil and gas condensate for the auction scheduled for January 31, 2015, Ukrnafta sent a letter to the committee asking to explain the pricing formula, because it concerns it to be unfair.

"The first attempt to hold an auction under the new rules came upon opposition from Ukrnafta, which should be interested in a high price for its resources. The attempts to lower the value of oil of own production carry high risks of corruption and threaten the reduction of revenues coming to the national budget. This again suggests the need to strengthen state participation in the management of PJSC Ukrnafta," Naftogaz said.

Naftogaz said that since the definition of the formula for calculating the starting price for the auction is not foreseen by the procedure, Ukrnafta is obliged to accept the price set by the committee.