KIEV, June 6 ??“ UkrTatNafta, Ukraine's largest oil refinery, may postpone its $700 million modernization project indefinitely as the company has not been able to compete with cheap gasoline imports, a major shareholder said.

Ravil Muratov, the chairman of UkrTatNafta??™s supervisory council, joined other industry executives in Ukraine that had been urging the government to increase imports duties on gasoline.