In Q1 2016 net loss of Ukrnafta exceeded 500 mln grivnas

​In Q1 2016 Ukrnafta made a net loss of 510 mln grivnas against 1.95 bln grivnas of net profit in Q1 2015.

The net revenue of Ukrnafta in Q1 2016 fell by almost 4.86 bln grivnas against Q1 2015 to 3.12 bln grivnas, gross profit fell by 1.6 bln grivnas to 1.66 bln grivnas.

In 2015 Ukrnafta made a net loss of 4.9 bln grivnas, its debt reached 14 bln grivnas. Ukrnafta was in a critical financial state. As of January 1st 2016 the tax debt of Ukrnafta before the state budget reached 10.2 bln grivnas. As of the end of March the debt for rental payment rose to 12 bln grivnas.

According to the people’s delegate of the Ukraine, V. Voitsitskaya, this debt occurred as a consequence of money drawing out from Ukrnafta in the form of oil shipment without payment and advance payment for oil products to unfamiliar companies.