For May, 2018, PJSC Ukrnafta paid UAH 631,2 mln in rent to the state and local communities' budgets of different levels. Thus, in total for five months of production the company paid nearly UAH 3 bln of rent to the budgets of all levels.

According to the rent sharing mechanism, enshrined in law, the oblasts, raions and local communities' budgets received UAH 149,8 mln in H1 of 2018. For May the biggest recipients of rent revenues are traditional communities from Sumy oblast (UAH 14 mln), from Ivano-Frankivsk oblast (UAH 6,8 mln) and from Poltava oblast (UAH 4,5 mln).

5% of rent revenues to budgets of oblasts, raions and local communities, mln UAH

For May, 2018

For January-May, 2018

Sumy oblast

14.0

64.9

Ivano-Frankivsk oblast

6.8

33.0

Poltava oblast

4.5

23.0

Chernigiv oblast

3.2

14.6

Lviv oblast

2.6

11.6

Kharkiv oblast

0.4

2.2

Dnipropetrovsk oblast

0.08

0.4

Chernivetska oblast

0.02

0.1

Total

31.6

149.8

The rent sharing mechanism envisages that 95%of rent revenues go to the central public budget, while 5% - to the local budgets. The local rent revenues are split further with 2% allocated to the raions and 3% - to the oblast and local communities where companies produce hydrocarbons. Thus, the rent sharing mechanism allows local communities to receive share of revenues from production of oil and gas.

According to the recent estimates, Ukrnafta will pay circa UAH 6.4 bln in rent in 2018, with about UAH 320 mln in rent revenues going to the oblasts, raions and local communities where the company operates.

For more information please contact press office: +38 044 239 14 93

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Ukrnafta PAT published this content on 04 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 04 July 2018 07:28:02 UTC