11:32 12.12.2019

Tolling oil refining does nothing to alleviate problem of Ukrnafta's oil sales, company urges govt to interfere

2 min read
Tolling oil refining does nothing to alleviate problem of Ukrnafta's oil sales, company urges govt to interfere

 PJSC Ukrnafta has said that the effectiveness of tolling oil refining at the Kremenchuk oil refinery (Poltava region, Ukrtatnafta) is poor and again urges the government to interfere in the situation with the sale of oil and condensate belonged to the company.

According to the letter of Ukrnafta acting Board Chairman Oleh Hez to Prime Minister of Ukraine Oleksiy Honcharuk, the text of which is available at Interfax-Ukraine, tolling oil refining with further sale of oil products under contracts and through a network of its own gas stations is economically burdensome for the enterprise and does not solve the problem with the sale of the entire volume of crude oil.

The company recalled in the letter that the sale of oil and gas condensate through a stock exchange auction is mandatory for the company. However, since the beginning of 2019, 11 of the 19 planned auctions have not taken place due to the lack of applications. Based on systemic problems with the sale of oil and condensate, Ukrnafta was forced to decide on tolling refining.

The lack of the possibility of stable sales of products at auctions and the insufficient efficiency of tolling refining negatively affect the financial situation of the company, Ukrnafta said, asking the prime minister to urgently convene an interagency meeting to comprehensively analyze the situation and bring up possible solutions to it for discussion.

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