Ukrtatnafta is a Ukrainian

Ukraine

Ukraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia...

 oil refining company one of the largest producer of oil products in the country. The company operates the largest oil refinery in the country located in Kremenchuk

Kremenchuk

Kremenchuk is an important industrial city in the Poltava Oblast of central Ukraine. Serving as the administrative center of the Kremenchutskyi Raion , the city itself is also designated as a separate raion within the oblast, and is located on the banks of Dnieper River.-History:Kremenchuk was...

 with a capacity of 368500 oilbbl/d and several petrol stations. Ukrainian state-owned energy company Naftohaz Ukrainy

Naftohaz Ukrainy

Naftogaz is the national oil and gas company of Ukraine. It is the state-owned company under the Ministry of Fuel and Energy of Ukraine. The company is concerned with extraction, transportation, and refinement of natural gas and crude oil...

 owns 43.1% of shares in Ukrtatnafta, Tatneft

Tatneft

Tatneft is a Russian vertically-integrated oil and gas company with headquarters in the city of Almetyevsk, in the Republic of Tatarstan. It is the sixth largest oil company in Russia.The company general director is Rinat Galeyev...

owns 8.6% and Government of Tatarstan owns 28.8%.

Controversy

Tatneft has an ongoing dispute with the Government of Ukraine over control in Ukrtatnafta. 18% of the shares were transferred to two offshore companies allied with Tatneft, transaction which was not recognized by Ukrainian authorities. According to the court decision, these share were handed over to Naftohaz and in October 2007, there was a management change, which is not recognized by Tatneft. In March Tatneft filed international arbitration against Ukraine.