Ukrnafta denies SBU reports on any wrongdoing

The statement notes that establishment of violations of the competition legislation falls within the competence of the Antimonopoly Committee of Ukraine, and not the Security Service of Ukraine. Therefore, conclusions regarding the anti-competitive practices and infliction of loss on the state mentioned in the report of the SBU press center are only speculations of some individuals, and are not supported by appropriate evidence, according to Ukrnafta.

Ukrnafta notes that on September 11 the SBU posted information on its website that it had discovered facts about possible wrongdoing with regard to sales of oil and gas condensate at auctions. The report claims the SBU officers found that in 2015 Ukrnafta's auctions for purchases of crude oil and gas condensate were held without adequate competition.

According to the SBU, due to anticompetitive concerted actions, a large-scale damage was inflicted on a state, which owns a 50 per cent-plus-one-share stake in Ukrnafta.

However, the company reported on compliance with all the rules of selling the extracted oil and gas condensate.

The company reports that Ukrnafta auctions were held with strict observance of and in full compliance with the requirements of the current legislation of Ukraine, including that on protection of economic competition, the company's statement reads.

According to Ukrnafta, no enquiries, conclusions or claims on infringement of the competition law have been received from the Antimonopoly Committee of Ukraine, nor from any other bodies.

Given the above, PJSC Ukrnafta asks the Security Service of Ukraine to stop spreading false information about the company, as noted in the statement.

Ukrnafta is the largest public oil and gas company in Ukraine. Ukrnafta accounts for 68% of oil and condensate production and 11% of gas production in Ukraine.

Ukrnafta is a major player the retail market for oil products in Ukraine, owing more than 560 fuel stations in the country.