Ukrtatnafta

Ukrtatnafta

Owner of the only refinery in Ukraine. Having a significant impact on the price situation in the field of fuel and lubricants.

Ukrtatnafta owns the only refinery in Ukraine – State Enterprise Kremenchug Refinery, company’s main asset. It processes oil for gasoline of various brands, diesel fuel, motor oils, fuel oils, and other products of cracking. It is in direct communication with the Russian oil pipelines through the Ukrtransnafta network.

The Chairman of the Board is Ovcharenko Pavlo Volodymyrovych.

43% of the enterprise belong to Naftogaz Group, while other 38% belong to Privat Group through six offshore companies in Cyprus.

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Associated with Kolomoisky

Privat Group that belongs to Ihor Kolomoisky and Henadiy Boholyubov, formally owns more than a third of the authorized capital of the enterprise. In 2007, Privat received operational control over the enterprise and completed it with its top management. Russia’s Tatneft and its major shareholder, the government of the Russian Republic of Tatarstan with a total share of 37.6% of the share capital, were removed from decision-making.

Following a 10-year lawsuit, the International Arbitration Chamber of Paris has awarded $112 million in compensation to Ukraine for the actions of Privat Group.

Ukrtatnafta also received ₴114 million for the supply of fuel oil to Centrenergo thermal power plants after Volodymyr Zelensky came into power. This happened after Vitaliy Belyakov (associated with Kolomoisky) became the curator of coal energy.