Ukrtatnafta
Ukrtatnafta is an international oil refining company based in Kremenchuk and founded in 1994. It is one of the largest producer of oil products in the country. The company operates the largest oil refinery in the country located in Kremenchuk with a capacity of and several petrol stations. Ukrainian state-owned energy company Naftohaz Ukrainy owns 43.1% of shares in Ukrtatnafta, Tatneft owns 8.6% and the government of Tatarstan owns 28.8%.Controversy
has an ongoing dispute with the government of Ukraine over control in Ukrtatnafta. 18% of the shares were transferred to two offshore companies allied with Tatneft, a transaction which was not recognized by Ukrainian authorities. According to the court decision, these share were handed over to Naftogaz and in October 2007, there was a management change, which is not recognized by Tatneft. In March Tatneft filed international arbitration against Ukraine.
