Kremenchuk is the economic center of the Poltava Oblast and one of the leading industrial centers of Ukraine. It contributes about 7% (2005) of the national economy and accounts for more than 50% of the industrial output in the Poltava Oblast. The city is home to KrAZ, a truck-manufacturing company (one of the largest in Eastern Europe) as well as a major European oil refinery operated by Ukrtatnafta, the road-making machine works, Kremenchuk Automobile Assembly Plant, the Kryukivsky Car Manufacturing Plant, train railway rolling stock wagons, the wheel plant, the carbon black plant, the steel works and others.