Head of national joint-stock company Naftogaz Ukrainy Andriy Kobolev advocates the introduction of the financial readjustment plan for public joint-stock company Ukrnafta. A key element of the plan should be the differentiation of royalty collected from the company, depending on global oil prices, he said in an interview with ZN.UA.

"Recently the Verkhovna Rada decreased royalties for gas producers. The royalty for oil producers remained unchanged. This royalty was set when oil prices were above $100. We believe this royalty is unjustifiable with current oil prices," he said.

Kobolev said that another important element of the readjustment plan for Ukrnafta is the refusal of the State Fiscal Service to accrue fines for the company's debts.

"The company with such a debt [tax debt of around UAH 11 billion], such fine accrued now with oil prices of around $40, would tentatively service the debt, but it would fail to pay it. This is unacceptable. The readjustment process for the company is an opportunity to stop accrual of fines if the fiscal service gives its consent," Kobolev said.

He said that the Ukrnafta's readjustment plan should include the collection of debts from debtors.

"The plan foresees collection of all debts. We believe that in this process minority shareholders will insist on the unsettled issue with gas between Ukrnafta and Naftogaz. We would insist on the issues linked to the return of the debt by companies operating with Ukrnafta today no matter whom they belong to," he said.