11:26 02.08.2017

Ukrainian oil sold with $5 premium per bbl to Brent thanks to removal of counterfeit goods

1 min read
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%.

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