KIEV, Feb. 18 – UkrNafta saw its net profit fall by half in 2007, to UAH1.2 billion from UAH2.412 billion in 2006, UkrNafta Financial Director Volodymyr Pustovarov reported in Kiev on Monday.

He said that the key causes behind the decline in the company's net profit were "a heavier tax burden" and the company's inability to sell its gas at market prices.