16:15 14.02.2020

Ukrnafta supervisory board head Vitrenko considers situation in company under control

1 min read
Ukrnafta supervisory board head Vitrenko considers situation in company under control

The situation in PJSC Ukrnafta is under control, and the recent worsening of its financial indicators is linked to the crude oil price drop and the impossibility of selling oil and gas extracted by the company at a market price, Head of the supervisory board of the company, Executive Director of Naftogaz Ukrainy Yuriy Vitrenko has said.

"Instead of conducting market reforms, we have vestiges of the Soviet system when the government decides what the market price is," he said during the Countdown program on the UA:Pershyi TV channel on Thursday, explaining the problem with government-regulated pricing at Ukrnafta's auctions.

According to him, there are no buyers at the set price, including Naftogaz that refuses to purchase Ukrnafta's products, considering it overpriced, although the holding must do so by law.

Ukrnafta buys its oil at its own auction. We understand senility?!" Vitrenko said.

He added that then the only option for the company remains to give this oil for processing to the only oil refinery in Ukraine – Ukrtatnafta, the expenses of which "no one can verify."

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