Ukraine expects UAH 40 bil royalties in gas and oil development
The revenues from royalties in gas and oil development to the 2019 State Budget of Ukraine are expected at UAH 39.366 bil. This amount is mentioned in the Draft Law № 9000 dated September 15, 2018 “On State Budget of Ukraine for 2019”, as published on the webpage of Verkhovna Rada [the Parliament of Ukraine-Ed.].
The royalties are drafted as UAH 5.792 bil in oil, UAH31.159 bil in natural gas, and UAH 2.415 bil in gas condensate. Noteworthy, that royalties in oil&gas take 80 % in Ukraine’s total annual collections from royalties in development of the nation’s mineral resources.