“Ukrnafta” company will fall short of 5 billion UAN of profit

The main interest of “Privat” group is the maximization of profit inside the group in accordance with the scheme of resource sale the through its own exchange.

Exactly due to this independent participants of the market cannot take part in stock trading, and the realization of energy carriers is carried out in accordance with the start price. There is no actual competition.

The price difference between the sale of raw oil by “Ukrnafta”at the Ukrainian interbank currency exchange (UICE) and the sales of it by independent oil producers at other exchanges constitutes from 1135 to 2347 UAH per ton of oil. Gas condensate is a separate issue: here the price difference is even bigger. “Ukrnafta” loses from 2128 to 4156 UAH per ton, when it holds “auctions” at the UICE.

Moreover, exchange fees of gas condensate sales are much higher at this exchange, than at Ukrainian universal exchange. That is why such insistence in adjudication only at UICE looks extremely surprising to me.

Taking into account that the annual average oil production of the company comprises about 2 million tons, it’s easy to calculate, that if “Ukrnafta” keeps on selling fuel resources at its exchnge, which does not provide any conditions for completion, and, on the contrary, encourages manipulations at the market, the state company will fall short of about 5 billion UAH of profit.

Alexey Vlasenko, the head of the Ukrainian universal stocking