JSC Ukrgazvydobuvannia (UGV) in 2020 will drill 80 new wells, Head of Naftogaz integrated gas business unit Andriy Favorov has said. “In 2020, we will drill and launch about 80 new wells. Earlier, to do this without modern drills, the drilling speed of which is two or three times higher than our old drills, was … Read more
The Verkhovna Rada has eliminated inconsistencies with the European norms of the law on the separation of natural gas transportation activities from Naftogaz Ukrainy. Some 292 MPs voted for the relevant decision on November 15, of whom 235 were parliamentarians from the Servant of the People faction, 18 from European Solidarity, and 19 from Holos … Read more
The Verkhovna Rada at second reading and as a whole adopted bill No. 2239-1, which is necessary to separate activities for natural gas transportation from Naftogaz Ukrainy, certify a new independent gas transmission system operator and create conditions for signing a transit contract with Gazprom according to European rules. Some 341 MPs voted for the … Read more
Naftogaz Ukrainy in January-June 2019 saw net profit rise by 1.8 times (by UAH 11.102 billion) compared to the same period in 2018, to UAH 24.704 billion. According to the consolidated statements posted on the company’s website, its sales revenue in the first half of 2019 decreased by 0.9% (by UAH 1.174 billion), to UAH … Read more
Fitch Ratings has upgraded National Joint Stock Company Naftogaz’s (Naftogaz) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B’ from ‘B-‘. The Outlook is Positive. The upgrade follows that of Ukraine’s sovereign rating (B/Positive) on September 6, 2019, Fitch said on Friday. The rating also takes into account Naftogaz’s weak liquidity profile but overall low leverage … Read more
The European Bank for Reconstruction and Development (EBRD) has acquired one-fifth (for EUR 120 million) of five-year eurobonds issued by Naftogaz in the amount of EUR 600 million, the bank has said. “The eurobond proceeds are issued for general corporate purposes including the financing of gas purchases. The bank’s financing will be used exclusively for … Read more
JSC Ukrtransnafta has transferred 100% of its net profit in the amount of UAH 1.463 billion for 2018 in dividends to Naftogaz Ukrainy. The press service of the company said last year the company also sent 100% of its net profit for 2017 in the amount of UAH 2.139 billion to pay dividends. As reported, … Read more
National joint-stock company Naftogaz Ukrainy in 2018 increased its share of natural gas imports to the country to 66%, which is 5 percentage points more than in 2017 (61%), according to consolidated statements of the group posted on its website last week. According to the document, Naftogaz in 2018 bought gas from 18 European suppliers … Read more
National joint-stock company Naftogaz Ukrainy in 2018 saw UAH 11.567 billion in net profit, which is 70.6% less than in 2017 (UAH 39.449 billion), according to the group’s consolidated statements published on Thursday. The group’s net income decreased by UAH 27.9 billion compared to 2017, mostly due to the effects of reflecting the Stockholm arbitration … Read more
National joint-stock company Naftogaz Ukrainy has announced an auction to procure audit service as part of preparations for the issue of loan participation notes (eurobonds), the company reported on Friday. “The main tasks… is the preparation and issuance of letters of assurances for the purpose of issuing eurobonds, as well as the revision and preparation … Read more