Ukraine has signed two contracts worth a total of $121 million with domestic defense industry companies, Defense Minister Rustem Umerov said on July 30. In a post on Facebook, Umerov described the two deals as “critically important for the Armed Forces of Ukraine.” “Our defense industry is getting stronger,” he said, adding: “As we buy … Read more
Naftogaz Group’s Ukrgasvydobuvannya put a new high-output gas well into operation, producing 274,000 cubic meters of gas more per day, Naftogaz’s official statement wrote on July 30. This well is unique as its planned borehole is located directly beneath a residential area. “The new well has increased daily gas production at the field by 17%,” Naftogaz Chief Oleksiy … Read more
The head of the board of the state oil and gas company Naftogaz insists that Ukraine needs to preserve at least some gas transit. Oleksiy Chernyshov, chairman of the Board of Naftogaz of Ukraine, called the proposal with the transit of Azerbaijani gas the main one of the two alternatives that Ukraine is currently considering. … Read more
Ukrainian President Volodymyr Zelenskyy signed new laws eliminating VAT and customs duties on importing energy equipment to boost promised energy generation capabilities. President of Ukraine Volodymyr Zelenskyy has signed laws abolishing taxes and duties on the import of energy equipment into Ukraine. These laws have already been published and have entered into force. Although they took effect … Read more
Ukrainian company Skyeton expanded the production of Raybird UAVs to Slovakia. $3,5 million was invested in the launch, Oleksandr Stepura, the company`s founder, said in an interview for Forbes Ukraine. According to Oleksandr, the production was expanded there in case a russian missile hit a Ukrainian factory. The company rents 1,000 m2 abroad. Moreover, production … Read more
The European Network of Transmission System Operators for Electricity (ENTSO-E), at the request of NPC Ukrenergo, is working on the possibility of increasing cross-border capacity for electricity imports from Europe to Ukraine and may make a decision before the onset of cold weather, said Board Chairman of the company Volodymyr Kudrytsky. “At our very insistent … Read more
Over 11 months of operation, the Ukrainian maritime corridor has transported 60 million tonnes of cargo, the Ukrainian Sea Ports Authority (USPA) reported on Facebook. “Sixty million tonnes is the cargo turnover of the Greater Odesa ports over 11 months of operation of the Ukrainian corridor,” USPA said in a statement on Friday. Some 40.6 … Read more
The European Network of Transmission System Operators for Electricity (ENTSO-E), at the request of NPC Ukrenergo, is working on the possibility of increasing cross-border capacity for electricity imports from Europe to Ukraine and may make a decision before the onset of cold weather, said Board Chairman of the company Volodymyr Kudrytsky. “At our very insistent … Read more
The National Bank of Ukraine (NBU) has worsened the price growth forecast for 2024 and 2025 by 0.3 and 0.6 percentage points (p.p.), respectively – to 8.5% and 6.6% primarily due to increased business costs for labor and electricity. “Price pressure will continue in the coming months due to further increases in business costs, higher … Read more
The producer price index (PPI) of industrial products in Ukraine increased by 14% in June compared to May, the State Statistics Service reported. According to the calculations of analyst Oleksiy Blinov from Forbes, such industrial inflation has not been observed in Ukraine for 30 years. The last time higher rates were only during the hyperinflation … Read more