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. Last Updated: 07/27/2016

Court Edges Tatneft Out of Refiner

Ukraine's government regained control of Ukrtatnafta, the country's second-biggest oil refiner, as part of its efforts to increase its influence over the energy industry.

A court decision gave the state-run oil and gas company, Naftogaz Ukrainy, control of a disputed 18 percent stake, Oleksiy Fedorov, a Naftogaz spokesman, said Wednesday by telephone from Kiev.

The decision raises Naftogaz's holding in the refining venture to 61 percent.

Ukraine had been trying for years to reclaim the stock from allies of Tatneft, Naftogaz's partner in Ukrtatnafta.

"The state control over the stake will allow us to regulate the oil market by market methods," Naftogaz said in an e-mailed statement.

Tatneft will appeal the decision, according to Kommersant.

Pyotr Glushkov, a spokesman for Tatneft, was not immediately available to comment.