Ukrainian oil sold with $5 premium per bbl to Brent thanks to removal of counterfeit goods
Ukrainian oil sales are now higher than Brent, with an average premium of $5/bbl in 2017, due to the removal of illegal cheap products from the Ukrainian market and robust local demand for oil exceeding local supply, JKX said in a report posted on the London Stock Exchange.
Oil realizations also improved from $39.92/bbl in 2016 to $57.45/bbl in 2017 which is in line with Brent movement from an average of $41.21/bbl during the H1 2016 to $52.28/bbl during the H1 2017.
JKX owns Poltava Petroleum Company in Ukraine.
The largest shareholders of JKX are Eclairs Group of Ihor Kolomoisky and Hennadiy Boholiubov with 27.54% of the shares, Glenary Overseas Limited of Oleksandr Zhukov with 11.45% of the shares, and Russia's Proxima Capital Group with 19.92%.