KIEV, March 15 - UkrNafta, Ukraine??™s largest oil producer, postponed for a week decision on suspending production at more than 1,000 oil wells due to a major hike in royalties earlier this year, the company said Thursday.

UkrNafta??™s Supervisory Council, which represents the company??™s investors, will hold a meeting on March 20 to decide on the future of 1,200 oil wells that had been apparently losing money due to the royalty hike.