KIEV, July 7 – Prime Minister Arseniy Yatseniuk has insisted on the creation of a vertically integrated oil company on the basis of oil producer Ukrnafta, oil transportation system operator Ukrtransnafta, and oil refinery Ukrtatnafta, which operates Kremenchuk oil refinery.

"We've got an incredible asset in our hands that is worth tens of billions of dollars: Ukrtransnafta is owned by the state, there is a 51% state stake in Ukrnafta with 49% belonging to a private stockholder, and Ukrtatnafta where the state owns 43% and 57% belongs to a private stockholder," Yatseniuk said at an Energy and Coal Industry Ministry board meeting in Kiev on Tuesday.