Hromadas’ rent revenues received from oil and gas companies close to UAH 1 Billion

Since 2018, local budgets have been receiving 5% of rent payments from oil and gas companies.

In the period from January until May 2019, oil and gas companies paid municipal budgets rent fees amounting UAH 906.9 million. According to Ukrainian Energy, these data have been presented by the Ministry of Finance of Ukraine.

Gas and oil extraction brought Ukrainian hromadas revenues equal to UAH 719.7 million and UAH 128 million respectively. Revenues from the extraction of gas condensate in the above period amounted UAH 59.214 million.

According to the new legislation, 5% of rental payments from Ukrainian oil and gas companies should be sent to the local budgets, and the remaining 95% should go to the general fund of the state budget.

The law provides to send 2% to oblast budgets, 2% - to rayon budgets, and 1% - to local self-government budgets by location (production) of appropriate natural resources. The exception is given for budgets of cities of the republican and oblast significance ​​and budgets of the amalgamated hromadas receiving 3%.

Such a step should encourage hromadas to cooperate with companies and increase their own extraction of natural gas and oil in Ukraine.

 

17.07.2019 - 13:28 | Views: 2456
Hromadas’ rent revenues received from oil and gas companies close to UAH 1 Billion

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budget

Source:

Українська енергетика

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