Interfax reported that Ukrtatnafta saw its net losses in the first half increase 410%YoY to UAH 2.084 billion.

Gross losses increased 11.8 fold to UAH 1.669 billion while net income for the half grew 130% to UAH 8.920 billion. Q2 net losses came to UAH 725.57 million up by 93.5%YoY. Gross losses increased almost 120% to UAH 516.06 million and net income grew 140% to UAH 5.009 billion.

The oil refinery processed 51.7% more crude oil YoY 1.869 million tonnes.

Ukrtatnafta net losses in 2009 were up 42.9% from 2008 at UAH 1.334 billion. The Kremenchug refinery management has since October of 2007 been controlled by the shareholders of PrivatBank in Dnepropetrovsk.

(Sourced from Interfax)