Ukraine’s State Service of Geology and Mineral Resources says that the sale of licenses for oil and gas deposits in 2018 may earn about Hr 3 billion ($113 million) for the national budget, while only Hr 50 million ($1.88 million) was earned in the past eight years.
“Earnings from licenses on [new] sites will reach about Hr 3 billion,” acting head of the service Oleh Kyryliuk said at a government meeting. “For example, I can say that exactly the same number of hydrocarbon lots was sold in the past eight years and the state received only Hr 50 million. We propose putting up 44 deposits for sale with an initial price of Hr 3 billion,” he said.
