Business news from Ukraine

Business news from Ukraine

Electricity imports in Ukraine increased by 2.7 times in December 2024

Electricity imports in December 2024 increased by 2.7 times compared to November – up to 433.4 thousand MWh, while exports fell by 6.1 times – to 6.8 thousand MWh, according to data on the Energy Map portal.
Thus, according to Energoreforma’s calculations based on these data, electricity imports in December-2024 exceeded exports by 63.7 times.
Most electricity was imported from Hungary – 152.33 thousand MWh (35.16%). This was followed by Slovakia – 107.08 thousand MWh (24.71%), Poland – 91.98 thousand MWh (21.23%), Romania – 70.78 thousand MWh (16.34%), and Moldova – 11.12 thousand MWh (2.57%).
Hungary also ranks first in terms of exports – 2.99 thousand MWh (43.96%) were supplied there. Romania exported 1.58 thousand MWh (23.17%), Moldova – 1.06 thousand MWh (15.56%), Slovakia – 1.04 thousand MWh (15.33%), Poland – 0.14 thousand MWh (1.99%).
In total, in 2024, electricity imports amounted to 4.44 million MWh, which is 5.5 times higher than in 2023 (806.4 thousand MWh). The largest amount of electricity was imported in June – 858.38 thousand MWh, the smallest in February – 84.09 thousand MWh.
Exports in 2024 amounted to 348.43 thousand MWh, which is almost at the level of 2023 – 366.5 thousand MWh. The largest amount was exported in March – 154.1 thousand MWh, the smallest in September – 0.69 thousand MWh. No exports were made in June-August.
As reported, in November 2024, imports decreased by 9% compared to October – to 165 million kWh, exports to Europe decreased by 31% – to 41.9 thousand MWh.
Despite the overall shortage of electricity caused by Russia’s massive attacks on the power grid, Ukraine has a surplus at certain hours, including when renewable energy generation is active and at night, which allows it to export. An alternative to exports is, in particular, a forced limitation of electricity production from renewable energy sources, which should be compensated by NPC Ukrenergo. Due to the surplus, other types of generation should also reduce their capacity.

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“Metinvest” has created armor for Patriot complex

Metinvest Mining and Metallurgical Group, as part of Rinat Akhmetov’s Steel Front military initiative, has mastered the production of armor protection for the MIM-104 Patriot control module, which protects the Ukrainian sky from enemy attacks.

According to the group’s press release on Friday, Metinvest engineers have already mounted the first armor on the air defense system’s operational control module.

At the same time, it is noted that Metinvest continues to actively expand its line of protective products for the Ukrainian army, which increases the level of security and protects the lives of defenders and military equipment. The company has mastered the production of steel shields for the main domestic T-64 and T-72 tanks, American M1 Abrams tanks and Bradley infantry fighting vehicles, and is preparing to integrate them into various Leopard 2 modifications. The soldiers have already received more than 300 screens.

Oleksandr Myronenko, Head of Steel Production for the Ukrainian Army at Metinvest and Group Chief Operating Officer, noted that the defenders of the sky also need reliable protection.

“Since this is one of the main areas of the Steel Front initiative, in which we have extensive experience, it is not surprising that we have been entrusted with such a responsible mission. In a month and a half, we created a project from scratch and manufactured a shield for the crew of the Patriot air defense system from Metinvest’s Ukrainian armor steel according to the drawings, which guarantees protection against fragmentation damage to both the defenders and the air defense control system. Our experienced engineers also supervised the installation of the armor,” explained Myronenko.

The company clarified that Metinvest engineers have set up the production of a unique armor patch for the Patriot air defense system’s brain center, which controls the air defense system. The crew protection against shrapnel damage is made of 30KhN2MA steel, which has improved wear resistance, strength, toughness and resistance to mechanical stress.

The armor consists of nearly 200 elements – plates of armored steel up to 8 mm thick that protect the air defense control center. The total weight of the armor exceeds 2.6 tons, but this does not affect the functionality or mobility of the complex. A team of project engineers worked on the creation of the Patriot air defense system’s armor, supervising the work of turners, fitters, mechanical assemblers, and electric and gas welders.

The Patriot system is an anti-aircraft missile system. The core of the system is the AN/MPQ-53 Patriot radar. This is a multi-purpose radar with a passive phased array antenna (PFAR) operating in G- or H-bands. Patriot uses advanced air-to-air interceptor missiles and highly effective radar systems. The maximum range of airborne targets is 170 km.

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PJSC Yuznyi will pay UAH 7.3 mln in dividends to shareholders for 2024

PJSC Yuzhny, a leading grape producer in Ukraine, will pay UAH 7.301 million in dividends to its shareholders in 2024 at the rate of UAH 0.44 per ordinary share.

According to the company’s announcement in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), the company’s supervisory board made the decision at an extraordinary remote shareholders’ meeting.

The Supervisory Board noted that it would approve the list of persons entitled to receive dividends on January 13, 2025, and that they will be paid in the period from January 14 to June 27 of this year in the full amount in proportion to the share of each shareholder.

According to the Opendatabot resource, PJSC Yuzny is one of the top twenty grape producers in Ukraine and ranks 11th in the financial results of 2023.

Founded in 1998 in the Bilhorod-Dnistrovskyi district of Odesa region, Yuzhny PrJSC specializes in growing grapes, grains, legumes and oilseeds.

In 2023, the company’s revenue amounted to UAH 23.85 million, net profit – UAH 5.271 million, debt obligations – UAH 11.378 million, assets are estimated at UAH 53.606 million. The authorized capital of the company is UAH 4.137 million. The company’s beneficiary is Danil Morshchagin.

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Oil rises in price due to demand in China and declining US stockpiles

On Friday, benchmark oil prices continued to rise after rising in the previous session.

This is due to both expectations of economic growth in China and, accordingly, an increase in demand for oil from the world’s largest importer, and a continued decline in US stocks, Trading Economics reports.

The market is also supported by forecasts of colder weather in many parts of the United States, MarketWatch notes.

Quotations for March futures for Brent on the London ICE Futures exchange as of 7:09 a.m. amounted to $76.08 per barrel, which is $0.14 (0.2%) higher than the level at the close of the previous trading. On Thursday, these contracts rose by $1.29 (1.7%) to $75.93 per barrel.

The price of February futures for WTI in electronic trading on the New York Mercantile Exchange (NYMEX) in the morning rose by $0.23 (0.3%) to $73.34 per barrel. At the end of the previous session, the quotations of these contracts increased by $1.41 (2%) and reached $73.13 per barrel, which is the highest since mid-October, according to Dow Jones Market Data.

At the end of 2024, the price of Brent fell by 3.1%, while WTI remained virtually unchanged.

US oil inventories fell by 1.178 million barrels in the week ended December 27, the US Department of Energy said on Thursday. They declined for the sixth consecutive week.

Gasoline reserves increased by 7.717 million barrels, distillate reserves – by 6.406 million barrels.

Number of foreign leaders want to return to Ukraine those who receive social assistance – Zelenskyy

A number of foreign leaders wanted to keep Ukrainian refugees who have found jobs and pay taxes in their countries, but return to Ukraine those who are recipients of social assistance, while Ukraine is interested in returning everyone – both those who work and those who do not, President Volodymyr Zelenskyy said.

“They (some foreign leaders – IF-U) themselves differentiated Ukrainians. I’m sorry, but this is how it is – I have all these conversations with them. They count their money, how much they spend annually to support Ukrainians abroad, but those Ukrainians who do not work – they say: you take them away,” he said in an interview with the National Telethon on Thursday evening.

Zelenskiy noted that these leaders and representatives of foreign governments are afraid to publicly voice this position.
“But I will return everyone, not (only) those who do not work for you,” Zelensky emphasized.

He noted that he is asking his partners for “a little more air defense,” and then he is ready to call all Ukrainian refugees to return.
According to the president, after the hot phase of the war is over, a large number of people will want to return. This will be facilitated by the large-scale reconstruction of Ukraine, which will “receive a lot of money”: from business, from frozen Russian assets, from the budget, which will reduce military spending.

“People will come to work… Large projects like the restoration of Ukraine will be supported by a large number of jobs. It is desirable that these are Ukrainians, I think, first of all, they will be Ukrainians,” Zelensky emphasized.
According to updated UNHCR data, the number of Ukrainian refugees in Europe as of December 16 this year was estimated at 6.254 million, and in the world as a whole – at 6.814 million, which is 28 thousand more than on November 18 this year.

According to Eurostat, as of October 31, 2024, 4.2 million citizens who fled Ukraine as a result of the Russian invasion on February 24, 2022, had temporary protection status in the EU. Germany remains the country with the largest number of refugees from Ukraine in the EU and the world by a growing margin – 1 million 140.71 thousand at the end of October, or 27.2% of the total number of beneficiaries in the EU. The top three also includes Poland – 983.88 thousand, or 23.4%, and the Czech Republic – 379.37 thousand, or 9.0%. This is followed by Spain (221.90 thousand), Romania (175.31 thousand), and Italy (165.68 thousand).

Exports of grains and oilseeds from Ukraine, mln tons

Exports of grains and oilseeds from Ukraine, mln tons

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