Business news from Ukraine

Business news from Ukraine

Anthony Marino elected Chairman of Naftogaz Supervisory Board

Anthony Marino was elected chairman of the supervisory board of Naftogaz of Ukraine at a meeting on Friday, Alexei Chernyshov, head of the company’s board, said on Facebook.

“Just now at a meeting of Naftogaz’s supervisory board, its chairman was elected. I salute Anthony Marino on his election!”, – wrote the head of NAC.

“Anthony (USA/Canada) has significant management experience. He is currently president and CEO of (Canadian – IF) energy company Tenaz Energy. Prior to that, he served as executive director, president and CEO of Vermilion Energy, an international hydrocarbon exploration and production company,” Chernyshov noted.

Morino served on the supervisory boards and boards of directors of six companies and organizations from 2002-2020.

“I am sure that his many years of experience in hydrocarbon exploration and production will help our group of companies to achieve the best results,” the head of Naftogaz stressed.

Chernyshov said the reinstatement of Naftogaz’s supervisory board at a time when Ukraine’s energy system is being tested through a full-scale war is an extremely important development.

“Anthony Marino is an upstream specialist with more than 38 years of experience in the oil and gas industry. He is a U.S. and Canadian citizen,” added Naftogaz in Telegram.

He has served as executive director, president and CEO of Vermilion Energy, an international hydrocarbon exploration and production company with a market capitalization of $4 billion.

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“Elektrotrans” announced a tender for transport insurance and firefighters

On February 9, Khmelnytskyi communal enterprise “Elektrotrans” announced a tender for voluntary civil liability insurance for owners of land transport and compulsory civil liability insurance for owners of land vehicles (MTPL), according to the electronic public procurement system Prozorro.

In addition, the lots were announced for compulsory insurance against accidents in transportation, compulsory insurance services for departmental and rural fire departments and members of volunteer fire brigades.

The expected cost of purchasing services is 690 thousand UAH.

The security of the tender offer is not required.

The deadline for submission of bids is February 17.

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Agreement on accession of insurer “ASKA” to “VSO” is planned to be approved on March 14

The contract on the merger of UJSIC “ASKA” (Zaporizhzhia) to IC “VUSO” (Kiev), as well as the relevant transfer act is planned to approve the shareholders of IC “VUSO” at the meeting on March 14 of this year, reported in the agenda of the shareholders’ meeting, placed in the information base of the National Commission on Securities and Stock Market (NSCBM).

It is also planned to consider the issue of approval of the decision on the issue of shares for the purpose of converting the shares of UASKA to the shares of VUSO Insurance Company, to which the accession is carried out.

As reported, at the end of November 2021 Renat Akhmetov’s investment company SCM reported reaching preliminary agreements on the sale of UJSIC “ASKA” to shareholders of IC “VUSO”. The National Bank on December 22 has agreed the purchase of 99,593% of “ASKA”, as well as 62,2156% of the shares of Private JSC “Insurance company “ASKO-Donbass North” (Druzhkovka, Donetsk region), in which 62,4699% belonged to “ASKA”.

UJSIC “ASKA” is the first private insurance company which has appeared in independent Ukraine, and has been working for already more than 30 years. It belonged to the portfolio of international investment company SCM. On December, 22nd, 2021 NBU decided to cancel 34 its licenses for insurance, except the license for obligatory insurance of civil liability of motor vehicles owners (OSAGO) on the basis of the submitted application.

IC “VUSO” was founded in 2001. Nowadays it owns 50 licenses: 34 – for voluntary and 16 – for compulsory types of insurance. It is represented in all regions of Ukraine.

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London and Kiev intend to act as organizers of the Conference on Reconstruction of Ukraine

London and Kiev intend to co-host the Ukraine Reconstruction Conference scheduled for June, according to a joint British-Ukrainian declaration issued Wednesday.

“We will co-host the Ukraine Recovery Conference in London on June 21-22. The UK will continue to provide Ukraine with access to British private financing, insurance, technical expertise,” the document, which was adopted following talks between British Prime Minister Rishi Sunak and Ukrainian President Vladimir Zelensky, stressed.

At the same time, the British side recalled that over the past 12 months “military, humanitarian and economic aid from the UK to Ukraine amounted to almost 4 billion pounds”.

As reported, the last conference on the reconstruction of Ukraine was held in Lugano (Switzerland) in early July 2022, and then it was announced that in 2023 a similar conference will be held in London.

Export of agricultural products decreased by a quarter in January – Sea Ports Administration

Ukraine exported in January “grain corridor” by 25% less agricultural products than in December due to deliberate actions of Russian inspectors to delay ships in the Bosphorus, the Administration of Sea Ports of Ukraine (AMPU) reported on Sunday.

According to the agency, in January the ports of “Big Odessa” processed 77 ships and sent 3 million tons of agricultural products to Africa, Asia and Europe, while in December the figure was 97 ships and 3.7 million tons of agricultural products, respectively.

At the same time, the Ministry of Infrastructure of Ukraine noted that the critically low rate of ships’ departure from the ports (2.5 ships per day) continues to remain. For comparison, in October this indicator was 5.7.

“In January, the ports worked only at 30-40% of capacity due to a shortage of the fleet to load. Three ships a day at the proposed nine are inspected in the Bosphorus and receive permission to move to Ukrainian ports for food,” – added in the ministry.

According to the ministry, the SKC plans to conduct 10 inspections a day, but Russian inspectors successfully complete only half of them.

“In January, 204 inspections were conducted, of which 173 were successful, another 31 inspections were not completed because Russian inspectors ended their workday prematurely and unilaterally at 3 p.m. 30 minutes (work time is regulated till 5:30 pm) or due to claims of documents not having been checked by the SKZ,” added the Ministry of Infrastructure.

In addition, the registration of vessels for participation in the initiative is also delayed. With more than 80 ships declared, the representatives of the aggressor country register 2-3 ships a day without any explanation. As of February 4, 120 vessels are waiting for inspection in Turkish territorial waters (98 – entering the ports for loading, 22 – with the agricultural products for the exit). The vast majority of them are waiting several weeks.

In total, for six months of operation of the “grain corridor” ports of Greater Odessa has sent 691 ships with 19.7 million tons of foodstuffs: the port of Chernomorsk – 285 ships-7.3 million tons, port “Odessa” – 215 ships-5.2 million tons and port “Pivdenny” – 191 ships with 6.6 million tons of food.

“The world received 19.7 million tons of food, and should receive more than 30 million tons, subject to the stable functioning of the corridor,” the department added.
As reported, in Istanbul on July 22 with the participation of the UN, Ukraine, Turkey and Russia signed two documents on the creation of a corridor for 120 days for the export of grain from the three Ukrainian ports – “Chernomorsk”, “Odessa” and “Pivdenniy”. After the end of its validity period, the agreement was extended for another 120 days, starting from November 19, 2022.

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Ukrainian Port of Reni for the first time received a ship with citrus fruits from Egypt

Port of Reni for the first time since the independence of Ukraine has attracted a new cargo flow – citrus fruits from Egypt, which in peacetime went through the larger ports of “Big Odessa”, the Administration of Sea Ports of Ukraine (AMPU) reported on Facebook.

“Last week a refrigerated vessel “ZEINAB”, equipped with enhanced ventilation and refrigeration units for the transportation of perishable goods, arrived at the port of Reni,” AMPU said in a statement.

In particular, 519.9 tons of fruit were delivered from Egypt: 150.3 tons of oranges, 169.4 tons of pomegranates, 31.05 tons of lemons and 169 tons of tangerines.

AMPU specified that citrus fruits were traditionally transshipped by Chornomorsk and Odessa ports.

The leader among them was the port “Chernomorsk”, which transshipped 253 thousand tons of citrus in the last five years: in 2018 – 83.6 thousand tons, in 2019 – 74.1 thousand tons, in 2020 – 43 thousand tons, in 2021 – 35.5 thousand tons and in 2022 – 16.8 thousand tons.

Port “Odessa” during the same period transshipped 134.2 thousand tons of citrus: in 2018 – 45.4 thousand tons, in 2019 – 40.4 thousand tons, in 2020 – 26.5 thousand tons, in 2021 – 14.3 thousand tons and in 2022 – 7.6 thousand tons.

AMPU reminded that now the ports of Greater Odessa work only within the framework of the “grain initiative”, so the cargo owners are forced to seek other ways to deliver citrus to consumers.
Earlier analytical project “Club of Experts” analyzed in detail the trade and economic cooperation between Ukraine and Egypt, see in detail in the video:

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