11:04 07.05.2024

Ukrnafta and ARMA apply to AMCU for permission to manage Tatneft assets

2 min read
Ukrnafta and ARMA apply to AMCU for permission to manage Tatneft assets

PJSC Ukrnafta together with the Asset Recovery and Management Agency (ARMA) applied to the Antimonopoly Committee of Ukraine (AMCU) with a statement regarding obtaining permission for concentration in order to begin fully manage the assets of Tatneft Group.

“We are talking about more than 110 objects of various types (gas stations, oil depots, other utility premises) located in Poltava and Kharkiv regions,” Ukrnafta said in a press release.

As noted, most of these facilities are in an unsatisfactory condition, which does not allow them to carry out economic activities for the safe sale of petroleum products. Due to hostilities in the territories where Tatneft gas stations and oil depots are located, and also due to the fact that the network has not updated equipment for a long time, in fact part of the assets are land plots where it is necessary to build new gas stations, as well as destroyed gas stations requiring reconstruction or new construction.

“As of today, it can be stated that out of about 70 gas stations of the Tatneft network, about 15 can operate. The situation is similar with non-working oil depots,” Ukrnafta informed.

As the company explained, experts note the need for significant efforts to restore these gas stations, and therefore Ukrnafta will have to consider each facility separately in order to calculate the required level of investment and the timing of their return.

“The asset management agreement is in the final stage of approval between ARMA and Ukrnafta,” the company noted.

As reported, the Cabinet of Ministers of Ukraine in August 2023 transferred the seized assets of Russia's Tatneft to the management of PJSC Ukrnafta.

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