OREANDA-NEWS. On October 30, 2007 Tatarstan rejected a proposal of the Fuel and Energy Ministry to hold a session of the supervisory board of the closed joint-stock company UkrTatNafta in Kyiv on October 31, with a view of settling the conflict around the company, reported the Official website www.kmu.gov.ua.

"Tatarstani shareholders believe the dispute lies beyond the competence of the UkrTatNafta supervisory board," the Fuel and Energy Ministry's press service reported. The initiative about holding the session was aired on October 26, with a view of normalizing the Kremenchuk Refinery operation and prevent infringing of Russian and Ukrainian shareholders' rights.

As is known, Prime Minister of Tatarstan Rustam Minnikhanov and TatNeft (Russia) believe that reinstating Pavlo Ovcharenko as chairman of the company's board was corporate takeover of the company.

Ovcharenko was dismissed in September 2004 and in October 2004 he challenged his dismissal. Finally, the Sumy Court of Appeal ruled to restitute him on August 29. On October 19 Mr Ovcharenko took the office and ex-head of the Refinery Serhiy Hlushko claimed corporate takeover. After that TatNeft ceased oil supplies to Ukraine till the situation is clear.

Pavlo Ovcharenko appealed to the president and law enforcement bodies to take measures to prevent alienation of the assets of the biggest refinery from the state property.