Ukrtransnafta posts 22.4% fall in net profit in H1 2017

13:11, 31.07.2017 1 min read

Public joint-stock company Ukrtransnafta saw a 22.4% fall in net profit in January-June 2017 year-over-year, to UAH 577.364 million.

The company said its net revenue over the period rose by 8.2%, to UAH 1.78 billion, while gross profit decreased 13.6%, to UAH 813.903 million.

As reported, crude oil transit through Ukraine to Europe increased to 6.797 million tonnes in January-June 2017, 5% more than in the same period last year.

Oil shipments to Ukrainian refineries grew 34.8% to 948,800 tonnes.

In 2016, the company's net profit fell by 5.6%, to UAH 1.519 billion, while net revenue grew by 5.2%, to UAH 3.505 billion.

Ukrtransnafta, 100% of whose shares are in the trust management of Naftogaz Ukrainy, is the operator of the national oil transportation system.

Ukrtransnafta's trunk oil pipeline system, which includes pipes from 159 mm to 1,220 mm in diameters, stretches 4,767 kilometers and through 19 Ukrainian regions. It has annual capacity to accept 114 million tonnes for shipment and to supply 56.3 million tonnes to Europe.