PJSC Ukrnafta, one of the major oil and gas companies of Ukraine, announces Interim Results for the nine months ended 30 September 2015. 

Mark Rollins, Chairman of the Board, said:
“Despite the historical drop of oil prices, “Ukrnafta” does its best to keep functioning effectively, paying salaries and current tax liabilities, which can be seen in the financial interim results for the 9 months in 2015”.

Summary:

– Oil extraction for the 9 months in 2015 fell by 11,2% compared to the similar period in 2014 and amounted to 1,4 mln tonnes.

– Gas production for the 9 months in 2015 fell by 13,2% compared to the similar period in 2014 and amounted to 1,14 bln m3. 

– Liquified gas production for the 9 months in 2015 fell by 2,5% compared to the similar period in 2014 and amounted to 116 thousand tonnes. 

– Net cash flow from operating activities for the 9 months in 2015 amounted to 4,06 bln UAH (for reference – for the 6 months in 2015 the amount was 3,91 bln UAH).

– The factor that signifiantly influenced the level of profit was an offset of gas value against dividends worth 2.6 bln UAH. Excluding this operation, the net profit of the company for the 9 months in 2015 amounts to 1,46 bln UAH. 

It is worth mentioning that PJSC Ukrnafta paid dividends for the year 2014 to the majority shareholders by transferring 632,3 mln UAH to the state budget, of which 200 mln UAH were paid within the current 9 months period, while the rest of the sum in the amount of 432,3 mln UAH were transferred to the state in October 2015, thus it will be included in the next accounting period. 

Financial summary: