Directions of increasing oil refinery revenues under conditions of energy dependence

Abstract

The rapid spread of globalization processes radically changed the functioning principles of Ukrainian enterprises. This is explained by the fact that globalization is a condition of economic entities’ functioning, and also determines the level of enterprises’ competitiveness. In the case of the oil refining enterprise PJSC «Ukrtatnafta», these difficult operating conditions are aggravated by the lack of state support of the enterprise as an important facility of the creation and storage of a petroleum product strategic reserve. Thus, the imperfect system of the government oil purchases, adverse pricing conditions in the domestic market of petroleum products have a negative impact. Ukrainian suppliers have a disadvantage because of providing tax preferences for the imported petroleum products. It caused the search for the factors to ensure the stability of operational activity, in particular, revenue growth due to the assortment and marketing policy by the PJSC «Ukrtatnafta». The authors analyzed the composition, dynamics and structure of income of the PJSC «Ukrtatnafta» in these conditions. The main measures to increase the total revenue from the sale are: to advance the assortment, changing the cooperation market strategy, improving the quality of products, expanding the terms of petroleum product delivery. The above mentioned allowed the enterprise to reach the competitiveness, to complete the reconstruction of many installations, to upgrade the fixed assets and to propose the new energy course.

Keywords

• enterprise incomes
• sales revenue
• other operating incomes
• fuel industry
• oil refining industry
• oil products