DTEK Oil&Gas Paid UAH 22.5 Million Rental Payments to the Budgets of the Poltava Region in Q1 2018

DTEK Oil&Gas Paid UAH 22.5 Million Rental Payments to the Budgets of the Poltava Region in Q1 2018

Oil and gas10 May 2018

In March 2018, DTEK Oil&Gas paid UAH 7.868 million to the budgets of all levels of the Poltava Region. The amount of the company’s rental payments for the first quarter of 2018 amounted to UAH 22.464 million.

DTEK Oil&Gas Paid UAH 22.5 Million Rental Payments to the Budgets of the Poltava Region in Q1 2018

In the first quarter of 2018, the company transferred the following amounts to the regional, district, village budgets and budgets of the united territorial communities where DTEK Oil&Gas produces gas:

  • UAH 8.985 million to the Poltava Region budget.
  • UAH 2.062 million to the budget of the Machukhska United Territorial Community.
  • UAH 1.057 million to the budget of the Savyntsi Village Council.
  • UAH 2.748 million to the budget of the Kovaleve Village Council.
  • UAH 2.114 million to the Myrhorod district budget.
  • UAH 5.496 million to the Shyshaky district budget.

Law of Ukraine No. 1793-VIII Amendments to the Budget Code of Ukraine regarding the Entry of the Royalty Payment for Use of Subsoil for Production of Oil, Natural Gas and Gas Condensate adopted by the Verkhovna Rada on December 20, 2016 took effect from January 1, 2018. The law provides for 2% of the rental payment to be transferred to the regional budgets, 2% to the district and 1% to the local budgets at the location (production) of the respective natural resources. The exceptions are the budgets of cities of republican and regional status and the budgets of the united territorial communities, which receive 3%. 95% of the rental payment shall be made to the total fund of the state budget.