Ukrtatnafta that operates the only oil refinery in Ukraine—the Kremenchuk Oil Refinery in the Poltava region—received a net profit of 794.114 million UAH at the end of 2020 compared to 609.574 million UAH of a net loss in 2019.
Its net income at the end of last year decreased by 7.6%, or by 2 billion 835.541 million UAH, to 34 billion 462.693 million UAH, the Interfax-Ukraine agency informs, according to the company's reports attached to one of the tenders on ProZorro.
Gross profit amounted to 4.6 billion UAH compared to 936.6 million UAH of gross loss in 2019.
This indicates that Ukrtatnafta completed its year’s activities with net profit for the first time since 2014.
In 2018, the net loss amounted to 321.1 million UAH, in 2017—2.4 billion UAH, in 2016—202.5 million UAH, in 2015—417.7 million UAH. In 2014, the company's net profit amounted to 349.7 million UAH.
Earlier it was reported that Ukrtatnafta was ready to replace oil products from Russia.
Bitumen production in Ukraine increased from 219,300 tons in 2019 to 329,700 tons in 2020, or by 50.3%. Almost all of the produced bitumen, 319,000 tons, was produced by the Kremenchuk Oil Refinery Ukrtatnafta.
Ukrtatnafta owns the only operating oil refinery in Ukraine—the Kremenchuk Oil Refinery. NJSC Naftogaz of Ukraine owns 43.05% of Ukrtatnafta shares, another 28% are controlled by the structures of the FIG Privat and businessman Oleksandr Yaroslavsky. Although the company belongs to the state, it is included in the sphere of influence of the FIG Privat, whose management administers the plant.