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Ukrainian PJSC Ukrtatnafta's portfolio investor Yaroslavsky says he may sell his stake

Ukrainian PJSC Ukrtatnafta's portfolio investor Yaroslavsky says he may sell his stakeBusinessman Oleksandr Yaroslavsky admits he may sell his stake in PJSC Ukrtatnafta, which runs Kremenchuk oil refinery in Poltava region.

"I am a portfolio investor of Ukrtatnafta and I'm not engaged in its business activity. I have a stake that belongs to me. If it turns out they offer a good price for this package, I will sell it," he said in an interview with the Internet portal censor.net.

As reported, Ukrtatnafta in 2016 reduced net loss by 52.4%, or UAH 215.133 million, from 2015, to UAH 202.544 million. Net revenue over the period under review decreased by 7%, to UAH 23.840 billion, gross profit fell by 47.4%, to UAH 1.270 billion.

Ukrtatnafta in 2016 increased crude oil refining by 8.9%, or 179,000 tonnes, from 2015, to 2.195 million tonnes. Last year, the company did not process customer-supplied raw materials, whereas in 2015, it provided tolling services, having processed of 424,500 tonnes of raw materials.

Ukrtatnafta in 2017 plans to boost crude oil refining by 35-50% from 2016, to 3-3.3 million tonnes in 2017.

Kremenchuk oil refinery's processing capacity is 18.6 million tonnes of crude oil per year, the nominal capacity is about 7.3 million tonnes per year.
NJSC Naftogaz of Ukraine owns 43.05% of Ukrtatnafta's shares, while 28% is controlled by the Privat Group's structures and businessman Oleksandr Yaroslavsky, each.
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