Ukrnafta pays UAH 5.9 bln in rent payments in January-October 2019

“Over the ten months of 2019, PJSC Ukrnafta transferred UAH 5.91 billion in rental payments to the state and local budgets of various levels for subsoil use,” reads the report.

Ukrnafta noted that according to the mechanism for distributing rent for oil, gas and condensate, stipulated in the legislation, UAH 295.7 million in rent payments was transferred to local budgets.

In October 2019, Ukrnafta paid UAH 524.4 million in rent payments for the subsoil use to the budgets of all levels, of which UAH 26.2 million was transferred to local budgets.

In 2019, the largest revenues from the rent were transferred to local budgets in Sumy region (UAH 126.2 mln), Ivano-Frankivsk region (UAH 65.1 mln) and Poltava region (UAH 46.4 mln).

The company reminded that the amount of rent payments transferred to local budgets depends on the volume of hydrocarbons production in a relevant region. The funds are used by communities mostly for the implementation of local infrastructure and social projects.

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