President of Ukraine Viktor Yushchenko has instructed Prime Minister of Ukraine Yulia Tymoshenko by June 10 to ensure the transfer to OJSC “Ukrnafta” of state packages of shares of a number of oil companies with the aim of stabilizing the situation on Ukraine's petroleum products market. This is stated in the President's instruction, the text of which was provided to «proUA» by the press service of the head of state. \n \n“With the aim of regulating the situation on the oil and petroleum products market, ensuring the stable functioning of this market, the economic and energy security of the state, fuller satisfaction of the needs of industrial and agricultural consumers and the population of Ukraine in petroleum products, and the creation of a vertically integrated scheme for managing corporate rights belonging to the state in the statutory funds of oil and oil refining companies, [instruct] Yu. Tymoshenko to ensure: the transfer to the statutory fund of OJSC «Ukrnafta» of the state-owned packages of shares of JSC «Ukrtatnafta», OJSC «Oil Refining Complex «Galychyna» and JSC «Naftokhimik Prykarpattia», as well as other packages of shares of these companies to be acquired in accordance with the established procedure into state ownership; the retention by NJSC «Naftogaz Ukrainy» of a package of shares in the amount of not less than 50% plus one share in the process of increasing the statutory fund of OJSC “Ukrnafta,” - stated in the instruction.
Yushchenko instructed Tymoshenko to transfer shareholdings in a number of oil refineries to Ukrnafta
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