Business news from Ukraine


19 May , 2022  

The consolidated net profit of NJSC Naftogaz of Ukraine for 2021 amounted to UAH 12.023 billion against a net loss of UAH 19.002 billion in 2020.
According to the reports published on the website of Naftogaz, its sales revenues last year increased by 36.5% (by UAH 58.15 billion) compared to 2020 – up to UAH 217.384 billion, total revenues – by 13.5% ( by UAH 25.962 billion), up to UAH 218.979 billion.
In terms of segments, revenue from sales in 2021/2020: sales of natural gas (UAH 136.751 billion / UAH 75.821 billion), domestic exploration and production (UAH 90.309 billion / UAH 61.472 billion), Ukrnafta (UAH 36.944 billion / UAH 35.535 billion ), gas transit services (UAH 32.72 billion/UAH 46.724 billion), gas storage (UAH 4.764 billion/UAH 6.046 billion), oil transit services (UAH 3.583 billion/UAH 3.466 billion), domestic oil transportation (UAH 0.411 billion UAH/0.275 billion UAH), other (3.165 billion UAH/2.776 billion UAH), elimination (-91.263 billion UAH/-72.881 billion UAH).
Geographical structure of income from the sale of goods and services in 2021 and 2020: Ukraine (UAH 175.709 billion/UAH 104.266 billion), RF (UAH 36.071 billion/UAH 49.91 billion), Europe (UAH 4.457 billion/UAH 4.837 billion), Asia (UAH 0.802 billion/0), Egypt (UAH 0.342 billion/UAH 0.209 billion), USA (UAH 0.003 billion/UAH 0.012 billion).
The press release of the NAC to the published financial statements notes that the main profit of the company last year was received from mining.
“However, not all segments of activity were profitable and this needs to be corrected. In particular, the activity of importing, trading and supplying gas was unprofitable due to state regulation, primarily the decisions of the NEURC regulator. Gas storage activities were also unprofitable, partly also from – for the decisions of the regulator,” said the head of the NAC Yuriy Vitrenko.
“State-owned companies should be profitable under normal conditions. Given the scale of Naftogaz, such profits are not excessive, taking into account the invested capital and its cost. At the same time, the data indicate that Naftogaz would be profitable in 2021 without gas transit. This important achievement,” he said.
Naftogaz unites the largest oil and gas producing enterprises of the country (100% of Ukrgazvydobuvannya and 50% + 1 share of PJSC Ukrnafta). The Group has a monopoly on the storage of natural gas in underground storage facilities (100% Ukrtransgaz) and the transportation of oil by pipeline across the country (100% Ukrtransnafta), and is actively developing the direction of gas supplies to household consumers.