Ukrtatnafta is a Ukrainian oil refining company based in

Kremenchuk Kremenchuk (; uk, Кременчу́к, Kremenchuk ) is an industrial city in central Ukraine which stands on the banks of the Dnipro River. The city serves as the administrative center of the Kremenchuk Raion (district) in Poltava Oblast (pr ...

and founded in 1994. It is one of the largest producer of

oil An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) & lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated ...

products in the country. The company operates the

largest Large means of great size. Large may also refer to: Mathematics * Arbitrarily large, a phrase in mathematics * Large cardinal, a property of certain transfinite numbers * Large category, a category with a proper class of objects and morphisms (o ...

oil refinery An oil refinery or petroleum refinery is an industrial process plant where petroleum (crude oil) is transformed and refined into useful products such as gasoline (petrol), diesel fuel, asphalt base, fuel oils, heating oil, kerosene, lique ...

in the country located in

with a capacity of and several petrol stations. Ukrainian state-owned energy company Naftohaz Ukrainy owns 43.1% of shares in Ukrtatnafta,

Tatneft Tatneft (russian: публичное акционерное общество «Татнефть» имени В.Д. Шашина or ПАО «Татнефть» им. В.Д. Шашина; traded as: (ordinary shares), (preferred shares), (ADRs)) ...

owns 8.6% and the government of Tatarstan owns 28.8%.

Controversy

Russian oil company

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.

Seizure by Zelenskiy government

On November 6th, 2022 the government of President Volodymyr Zelenskiy used martial law to seize control of the company. “Such steps, which are necessary for our country in conditions of war, are carried out in accordance with current laws and will help meet the urgent needs of our defense sector.” The government of Ukraine also took control of engine maker Motor Sich, energy company Ukrnafta, vehicle maker AvtoKrAZ and transformer maker Zaporizhtransformator at the same time.

References

{{reflist Oil companies of Ukraine Oil refineries in Ukraine Energy companies established in 1995 Kremenchuk Economy of Poltava Oblast Buildings and structures in Poltava Oblast