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JV PPC calculated UAH 769.1 mln of rent payment to the state budget of Ukraine for 2021

February 2, Kyiv – JV Poltava Petroleum Company (hereinafter referred to as JV PPC) calculated UAH 769.1 million of rent payment to the state budget of Ukraine during 2021. In particular, the local budgets of the Poltava region received UAH 38.4 million, namely:

• to the regional budget – UAH 15.3 million;
• local budgets – UAH 23 million.

The rent is formed from two components: the price of import parity and the amount of production produced by oil and gas companies.
Thus, the rent payments of JV PPC more than doubled in 2021 due to the high price environment for hydrocarbons and stable production.

“Rent revenues make up the lion’s share of local budgets. In particular, the local communities have the opportunity to develop the territory, improve infrastructure and improve the living standards of the local population. In addition, throughout the year we actively support local educational institutions and join in the implementation of socially important projects by concluding social agreements with village councils,” commented Viktor Gladun, General Director of JV PPC.

Recall that JV PPC has counted UAH 325.3 million of rent in 2020 to the state budget of Ukraine.