Naftogazvydobuvannya Increased its Tax Payments by 67%

Naftogazvydobuvannya Increased its Tax Payments by 67%

Oil and gas16 February 2017

Naftogazvydobuvannya, a DTEK Oil&Gas company, paid UAH 4.9B of taxes to the local and state budgets in 2016. This is 67% more than in the previous year. According to the SFS records, the company hit the top15 Ukrainian largest taxpayers.

The amount of taxes paid increased mainly due to 25% growth of natural gas extraction and the sale of a portion of products extracted in 2015. “This is a very good example of a potential that Ukrainian gas extraction has. And its development is important not only for Ukraine’s energy security. It also plays an important role in generating the government’s revenue, attracting investments to the economy, and creating thousands of jobs,” emphasised Igor Shchurov, CEO of DTEK Oil&Gas. “Presently, the industry’s growth rate is slowing down. This is why the task to be undertaken by us together with the state authorities is to find solutions that will help overcome negative trends and ensure maximum efficiency of Ukrainian gas extraction.”


DTEK is a strategic holding company that develops business in the energy sector. DTEK’s companies employ 73 thousand people. Maxim Timchenko is the Chief Executive Officer of DTEK.
DTEK companies produce coal and natural gas, generate electric power at the fossil-fuel fired power plants and renewable energy power plants, supply thermal and electric power to end consumers, and provide energy services. The operating companies directly manage production companies in each of the business streams.
DTEK’s production indicators for 2017: the company has produced 27.7 mn tonnes of coal, 1.655 bcm of natural gas, generated (supplied) 37.1 bn kWh of electric power, of which 637.8 mn kWh have been provided by the renewable energy sources; and transmitted 43.2 bn kWh of electric power via the grid.
DTEK is a part of the financial and industrial group System Capital Management (SCM). The shareholder of the group is Rinat Akhmetov.
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