JKX pays $15m to governments in 2016

JKX Oil and Gas posted its consolidated report on payments to governments for the year to 31 December on Friday, for activities related to exploration, development and extraction of oil and gas resources.

The London-listed firm reported a total of $13.68m in payments to Ukraine, $1.74m to Russia, and $56k to Slovakia, for total payments to governments of $15.47m during the year.

It made nil payments to the government of Hungary in the period.

“The company discloses ... payments made to governments of the company's subsidiaries involved in extractive activities,” JKX explained.

“The term 'government' includes any national, regional or local authority of a country and includes a department, agency or entity that is a subsidiary of a government or entity that is controlled by such authority.”