Type Private Founded 1995 Key people Serhiy Glushko (CEO) | Industry refining Headquarters Kremenchuk, Ukraine Revenue $1.3 billion USD | |
Ukrtatnafta is a Ukrainian oil refining company founded in 1994, and it is one of the largest producer of oil products in the country. The company operates the largest oil refinery in the country located in Kremenchuk with a capacity of 368,500 bbl/d (58,590 m3/d) and several petrol stations. Ukrainian state-owned energy company Naftohaz Ukrainy owns 43.1% of shares in Ukrtatnafta, Tatneft owns 8.6% and the government of Tatarstan owns 28.8%.
Controversy
Tatneft has an ongoing dispute with the government of Ukraine over control in Ukrtatnafta. 18% of the shares were transferred to two offshore companies allied with Tatneft, a transaction which was not recognized by Ukrainian authorities. According to the court decision, these share were handed over to Naftogaz and in October 2007, there was a management change, which is not recognized by Tatneft. In March Tatneft filed international arbitration against Ukraine.