KIEV, Nov 4 – Ukraine’s largest oil producer Ukrnafta expects oil production in 2017 to fall by 15%, the company's press service reported.

"With retaining high royalties for oil and gas condensate production and the absence of a decision in on its 'historic' tax debt, the company will not have enough funds to implement the investment program," the company said.

Ukrnafta said that in January-September 2016 the company's investment totaled UAH 391 million or 15% of the minimum required level.