Bloomberg News

UkrTatNafta Records Nine-Month Loss of 381.3 Million Hrynvias

October 23, 2008

AO UkrTatNafta, Ukraine's second- biggest refinery, recorded a loss in the first nine months of the year as it cut oil processing.

The net loss totaled 381.3 million hryvnias ($67.21 million) from January through September, compared with 127.1 million hryvnias in the same period a year ago, Kremenchug-based UkrTatNafta said today in a statement on the Web site of the State Stock & Securities Commission.

UkrTatNafta cut oil processing by 55 percent in the first nine months of the year as the supply of oil to the plant fell. Russia's OAO Tatneft (TATN), a shareholder in the refinery, halted oil shipments to UkrTatNafta after the plant was seized by a private security service on Oct. 19 last year.

To contact the reporter on this story: Daryna Krasnolutska in Kiev at dkrasnolutsk@bloomberg.net

To contact the editor responsible for this story: Chris Kirkham at ckirkham@bloomberg.net


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