Poltava Petroleum Company (JKX Oil & Gas Asset) Pays UAH 702 million (USD 17.04 mln) in Taxes in the First Nine Months of 2024
Poltava Petroleum Company (PPC), the key Ukrainian asset of the British JKX Oil & Gas Group, has paid UAH 702 million (USD 17.04 mln) in taxes and fees to state and local budgets in the first nine months of 2024. A significant portion of these funds was allocated to the local budgets of Poltava region. Despite challenges related to ongoing military actions, the company consistently fulfills all its tax obligations.
The amounts paid, including gas production royalties, are directed towards financing social projects, supporting Ukrainian Armed Forces, and developing local infrastructure. Local authorities use these resources for the repair of schools, kindergartens, clinics, and hospitals, the construction of water supply systems, the purchase of school buses, and the implementation of energy-saving measures.
Since the onset of the full-scale invasion, PPC has steadily adhered to its financial obligations to both the state and its partners. The total amount of taxes paid from 2022 to 2024 has exceeded UAH 4.5 billion (USD 109.25 mln).
Due to numerous missile strikes and infrastructure damage, PPC had to adapt its business model. The company modified its gas production activities and focused on service partnerships with other energy market participants.
“The full-scale invasion has directly impacted us: our industrial facilities have been attacked multiple times and suffered damage. However, we understand the critical need to ensure Ukraine’s energy security. Where possible, we continue extraction while simultaneously supporting partnership projects as technical experts in the energy sector. Even amid threats and actual destruction, we are doing everything we can to support the independence of our country and contribute to the development of local communities,” emphasized PPC's CEO, Vitalii Dorogan.
To recap, PPC is the main asset of JKX Oil & Gas Group in Ukraine and a leader among private oil and gas extraction companies in the country. The company focuses on oil and gas exploration, production, and hydrocarbon processing. JKX Oil & Gas Group is a private British company engaged in hydrocarbon exploration and production in Ukraine and Hungary. The company's headquarters are located in London. As of October 1, 2024, 29 PPC employees are serving in the Ukrainian Armed Forces. Since the start of the full-scale invasion, PPC has donated over UAH 202 million (USD 4.9 mln) to support the Ukrainian military, regularly purchasing necessary equipment in response to specific requests from military representatives.