Business news from Ukraine

Business news from Ukraine

ACTUAL PRICE OF CRUDE OIL IN UKRAINE 5% UP IN MAY

The actual price of crude oil and condensate used in determining the payment for subsoil use in May 2021 amounted to UAH 13,257 per tonne, which is 5.2% more than in April 2021 (UAH 12,605 per tonne).
The relevant data was posted on the website of the Ministry for Development of Economy of Ukraine.
As reported, in January 2020, the actual selling price of oil and gas condensate amounted to UAH 11,114 per tonne, in February – UAH 9,648, in March – UAH 5,913, in April – UAH 3,960, in May – UAH 6,199, in June – UAH 8,115, in July – UAH 8,847, in August – UAH 8,887, in September – UAH 8,467, in October – UAH 8,447, in November – UAH 9,034, in December – UAH 10,127 per tonne.
In January 2021 the selling price was UAH 11,114 per tonne, in February 2021 it was 12,302 per tonne, in March it was UAH 12,832 per tonne, and in April it was UAH 12,605 per tonne.

,

QUOTES OF INTERBANK CURRENCY MARKET OF UKRAINE (UAH FOR €1, IN 01.04.2021-30.04.2021)

QUOTES OF INTERBANK CURRENCY MARKET OF UKRAINE (UAH FOR €1, IN 01.04.2021-30.04.2021)

, ,

UKRAINE MAY RETURN TO IDEA OF CONSORTIUM FOR MANAGING GAS TRANSMISSION SYSTEM

Ukraine may return to the idea of attracting European and American companies to manage its gas transmission system (GTS), Advisor to the Minister of Energy of Ukraine Lana Zerkal has said, expressing this opinion on the air of ICTV TV channel.
“This may be the same idea that was in 2019 for a joint consortium involving European and American companies to use the Ukrainian pipeline,” the ministry’s press service said, citing her.
According to Zerkal, this step will contribute to the lifting of Gazprom’s export monopoly on gas sales, since European consumers will have access to the GTS, deciding which gas supply route is more profitable for them.
“This is a geopolitical problem and it must be resolved at the geopolitical level using mechanisms inherent in geopolitics. Nord Stream 2 has become a stumbling block for the whole of Europe and for transatlantic relations. This is not only a question of Ukraine. This gas pipe has become an issue and a subject of international negotiations at the highest level,” Zerkal said.
She recalled that with the help of Ukraine’s partners in the European Union, it was already possible to amend the EU Third Gas Directive, which provides for its application to Nord Stream 2.
“It is very important that it be applied in full, because it will make it possible to balance market relations if Nord Stream 2 is nevertheless completed, certified and launched,” she said.
According to her, the EU has tools that can secure Ukraine from the use of Nord Stream 2 in full, leaving the Ukrainian GTS without transit.
“But for this we need to work with the European Commission, as well as with other countries that are also not interested in the launch of Nord Stream 2,” Zerkal said.

, , ,

STATE-OWNED OSCHADBANK PREPARING FOR DUE DILIGENCE IN PRE-PRIVATIZATION DEAL

The state-owned Oschadbank (Kyiv) is preparing for a due diligence by the European Bank for Reconstruction and Development (EBRD) to prepare for a pre-privatization deal, Oschadbank CEO Serhiy Naumov has said.
“The bank is actively negotiating and preparing a pre-privatization deal with the EBRD. Currently, we are completing negotiations on signing a mandate letter and preparing for due diligence,” he told Interfax-Ukraine on Tuesday.
According to Naumov, the bank expects that a bill that was registered in the parliament, aimed at joining Oschadbank to the Deposit Guarantee Fund, will be passed soon. The document will ensure the fulfillment of one of the important conditions for continuing successful cooperation with the EBRD.
As reported, the Ministry of Finance of Ukraine in February 2018, as part of an updated strategy for reforming the public banking sector, planned to gradually include Oschadbank into the Deposit Guarantee Fund system. According to the memorandum with the IMF, concluded in December of the same year, the full state guarantee of deposits of individuals in Oschadbank was supposed to be canceled by the end of 2019. This step will open the way for the EBRD to enter the capital of Oschadbank.
Oschadbank was founded in 1991. Its sole owner is the state. According to the statistics of the National Bank, as of March 1, 2021, Oschadbank ranked second in terms of total assets (UAH 279.702 billion) among 73 banks operating in the country.

, , ,

UNICEF TO DELIVER 473,850 DOSES OF PFIZER BIONTECH VACCINE TO UKRAINE

UNICEF will deliver 473,850 doses of Pfizer BioNTech vaccine to Ukraine by the end of next week as part of the COVAX initiative.
According to a UNICEF press release, the first 117,000 doses of this shipment arrived in Ukraine on Tuesday.
Earlier, within the framework of COVAX, 590,850 doses of Pfizer-BioNTech vaccine and 1.0728 million doses of AstraZeneca vaccine were delivered to Ukraine.
The COVAX Initiative aims to ensure fair and equitable access to COVID-19 vaccines for every country in the world. Ukraine receives all vaccines within the framework of COVAX free of charge.
On behalf of COVAX, UNICEF purchases and supplies only those COVID-19 vaccines that meet WHO’s safety and efficacy criteria.
COVAX is coordinated by the Global Alliance for Vaccines and Immunization (GAVI), WHO and the Coalition for Epidemic Preparedness Innovation (CEPI). UNICEF works with manufacturers and procurement and logistics partners for COVID-19 vaccines.
Within the framework of COVAX, by the end of 2021, Ukraine should receive enough vaccines from various manufacturers to protect up to 20% of the population from COVID.

, , ,

EGYPT AND UKRAINE DISCUSS JOINT PRODUCTION AND EXPORT TO AFRICA

Ukraine and Egypt are discussing the possibility of joint production between enterprises and export to the African market, Ambassador Extraordinary and Plenipotentiary of the Arab Republic of Egypt Ayman Ahmed Mokhtar Elgammal has said in an exclusive interview to Interfax-Ukraine.
Egypt is a member of a number of free trade areas in African and Arab countries, he said. The official added that, for example, they invited the Ukrainian government to invest in the Suez Canal Economic Zone (SCZone).
According to the ambassador, Ukrainian enterprises will be able to manufacture products in Egypt and benefit from Egyptian free trade agreements in the region.
This will also be the topic of a meeting of the intergovernmental technical committee in June, he added.
At the same time, he clarified that so far no proposals have been received from Ukrainian companies on investments in SCZone.
At the same time, various organizations in Ukraine, in particular Ukrmashbud and its member companies, have asked to open their representative offices in Egypt for the joint production of high-tech goods of heavy engineering, the ambassador said.

, , ,