In Ukrnafta and Ukrtatnafta forced deoligarhization is being carried out

At a meeting on November 6, the National Securities and Stock Market Commission (NSSMC) decided to ensure the compulsory alienation of shares of Ukrnafta PJSC, Ukrtatnafta PJSC, Motor Sich JSC, AvtoKrAZ PJSC and Zaporizhtransformator PJSC into state ownership. The corresponding decision is published on the website of the NSSMC.

Currently, the state, represented by Naftogaz, owns 50% + 1 share in Ukrnafta. At the same time, the oligarch Igor Kolomoiskyi through his companies owned about 42% of the shares.

Ukrnafta is the largest oil-producing company in Ukraine. According to ExPro, during the 10 months of 2022, the company produced more than 1.1 million tons of oil and gas condensate.

Igor Kolomoiskyi and Gennadiy Bogolyubov owned 60% of the shares in Ukrtatnafta. Naftogaz owned the remaining shares in the amount of 40%. The key asset of Ukrtatnafta is the Kremenchuk Oil Refinery.

According to the decision of the NSSMC, the shares of Kolomoiskyi and Bogolyubov will be transferred to a special depository account managed by the Ministry of Defense of Ukraine.

Presumably, the shares of Kolomoiskyi and Bogolyubov may be transferred to the ownership of Naftogaz later.