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.”

Profile

DTEK is a strategic holding company that develops four business streams in the energy sector. DTEK's companies employ 75 thousand people. Maxim Timchenko is the Chief Executive Officer of DTEK. 

DTEK companies produce coal and natural gas, generate electricity at the fossil-fuelled power plants and renewable energy power plants, supply heating and electricity to end consumers, and provide energy services. Four operating companies—DTEK ENERGY, DTEK Renewables, DTEK Oil&Gas, DTEK ESCO— directly manage production companies in each of the business streams.

DTEK's production indicators for 2016: the company produced 31.3 mln tonnes of coal, 1.6 bcm of natural gas, generated (supplied) 40.1 bln kWh of electricity, out of which 608.4 mln kWh came from the Botievo wind farm;   and transmitted 45.8 bln kWh of electricity via the networks.

DTEK is part of the financial and industrial group System Capital Management (SCM). The shareholder of the group is Rinat Akhmetov.

For more information, visit: www.dtek.com

To learn about the social partnership projects in progress in the towns and cities of DTEK companies' operations and get a detailed status report on their implementation, visit www.spp-dtek.com.ua

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