Business news from Ukraine

Business news from Ukraine

Ukraine accumulates 11.7 bcm of gas in storage facilities

During the preparation for the heating season, Ukraine’s gas storage facilities have already accumulated 11.7 billion cubic meters of gas, and by the beginning of the autumn-winter period, it is planned to reach the figure of 14.7 billion cubic meters, Prime Minister of Ukraine Denys Shmyhal has said.

The Department of Communications of the Secretariat of the Cabinet of Ministers said on July 21 that he said this after a meeting with Deputy Prime Minister for Reconstruction, Minister for Communities, Territories and Infrastructure Development Oleksandr Kubrakov, Head of NJSC Naftogaz Oleksiy Chernyshev, representatives of the Ministry of Infrastructure, the Ministry of Energy, the Ministry of Economy and the Ministry of Finance.

At the meeting, issues of repairs, accumulation of fuel resources, and safety of thermal power facilities were discussed. Reports were heard from the Ministry of Infrastructure and NJSC Naftogaz on the plan for the preparation of thermal power plants for the autumn-winter period 2023/2024 and on the state of implementation of this plan for CHPPs, boiler houses, and thermal power plants.

“As the Ministry of Infrastructure reported, each enterprise has its own equipment repair plan, they are being implemented under the schedules. Those responsible for their observance have been identified. The state of readiness of housing and municipal services facilities has been considered. At the start of the heating season, they should reach 100%. This guarantees a stable winter,” Shmyhal said.

The prime minister also announced an instruction to ensure the protection of thermal power infrastructure facilities from enemy shelling. “Tasks have been set. Responsible persons have been identified. We are working to ensure that it is warm in the homes of Ukrainians,” the head of the Ukrainian government said.

,

Import of goods in Jan-March 2023 in most important positions to previous 2022

Import of goods in Jan-March 2023 in most important positions to previous 2022

Source: Open4Business.com.ua and experts.news

Former Alfa-Bank has new management board

Olena Zubchenko, Oleksiy Shklyaruk, Inna Tyutyun and Andriy Sokolov have become board members of Sence Bank (Kyiv, formerly Alfa-Bank) after its nationalization at the recommendation of the Ministry of Finance, according to the information on the website of the financial institution.

More detailed information about them is not yet available, but it is known that Zubchenko headed the Department of Financial Policy of the Ministry of Finance.

Shklyaruk, according to information in LinkedIn, since 2016 has served as a member of the board of Agroprosperis Bank and was responsible for the direction of risk management, before that he worked in Credit Agriclole – also in the field of risk management.

Sokolov, according to data in LinkedIn, has worked at Pivdennyi Bank since late 2017, including as head of the corporate business department since April 2020.

Tyutyun, according to information in LinkedIn, since June 2018 was deputy head of the board of the Ukrainian Association of Fintech and Innovation Companies, and previously deputy head of the board of Ukrgasbank.

As reported, the new head of the Board of Sense Bank became Dmitry Kuzmin, who for about half a year time headed a bank with foreign capital Universal Bank before its sale in late 2016 to Serhiy Tihipko’s TAS group. Prior to that, he worked at Raiffeisen Bank Aval and, even earlier, at Citibank, where he was chief accountant for more than a decade. After 2020, he was an independent member of the supervisory board of AS PrivatBank.

As reported, Sense Bank ranks 11th among 65 operating banks in Ukraine in terms of assets (about 3.4% of the assets of the entire banking system). It was nationalized in the last few days under a specially adopted law as a systemically important bank with majority shareholders from Alfa Group caught up in sanctions.

Joint Stock Company “Ukrainian Defense Industry” announced tender for hull insurance services

Joint Stock Company “Ukrainian Defense Industry” (Kiev) on July 24 announced a tender for the purchase of services of voluntary insurance of motor vehicles (CASCO) reported in the system of electronic public procurement Prozorro. As noted, the expected cost of the purchase of services is 488.6 thousand UAH.

Security of the tender offer is not required.

The deadline for submission of bids is August 1.

, ,

Ukraine’s DTEK to invest up to $130 mln in gas production this year

DTEK plans to invest $120-130m in gas production in 2023, the company’s CEO Maxim Timchenko said. “This year we plan to invest $120-130 mln in production. 70% of these funds are for the development of new fields,” he said in an interview with Forbes Ukraine.

According to him, most of the company’s oil and gas assets have already passed peak production, the natural decline at operating wells is 15-18%.

“The only way to compensate for the decline is to develop new fields. This year we are starting to drill on recently purchased licenses… We plan to start drilling in the Mayorovskoye area in the fourth quarter of 2023,” Timchenko said.

The head of DTEK is convinced that Ukraine has huge prospects for gas production at a depth of 6000-7000 meters. “Thanks to the latest technologies, production at such depths is now paying off,” he specified.

Timchenko also said that at the end of 2022, DTEK’s enterprises produced 2 billion cubic meters of gas. At the same time, at the end of the year they had 0.6 billion cubic meters in underground storage facilities due to a drop in consumption and export ban, which led to liquidity problems throughout the first half of this year.

“But now Naftogaz has started buying back gas after all. I was skeptical about Naftogaz’s ability to buy back gas, but NAK has indeed entered the market and is actively buying back gas. Accordingly, we have liquidity, which allows us to fulfill our investment program,” he said.

At the same time, the head of DTEK believes that the authorities “need to discuss the topic of resuming Ukrainian gas exports with the market, because it has a significant impact on the development of Ukrainian gas production”.

As reported, the companies included in DTEK Naftogaz in November 2022 acquired at an open auction the right to develop two gas fields in the Poltava region: Mayorivska area for UAH 1.102 billion and Birkovsko-Zinkovska area for UAH 211 million.

“DTEK Naftogaz” in 2021 increased gas production by 12% (by 0.22 billion cubic meters) compared to 2020 – up to 2.06 billion cubic meters.

“DTEK was established in 2005 to manage the energy assets of Rinat Akhmetov’s System Capital Management (SCM) group.

,

Pharmacy sales in Ukraine grew by 20% in first half of year

Pharmacy sales in January-June 2023 increased by 19.4% compared to the same period of 2022 and amounted to almost UAH 84.127 billion.

According to a study by Business Credit, in physical terms, pharmacies sold 612.11 million packs in the first half of this year, which is 10% less than in January-June 2022.

According to the survey, the weighted average price of all goods of the pharmacy basket increased by almost a third (+33%) – up to UAH 137.44. At the same time, pharmacy sales of medicines in January-June 2023 increased to UAH 65.96 billion (+16.9%). The weighted average price of medicines amounted to UAH 153.8, which is 27.2% more than a year earlier. A total of 430.899 mln packs of medicines (-8.12%) were sold in the mentioned reporting period in the pharmacy network.

The report states that pharmacy sales of medical devices increased in the first half of 2023 by 9.83% – up to UAH 2.142 billion.

Among the leaders in terms of growth, in particular, mineral water, whose sales increased by 52.1% to UAH 432.537 million, and dietary supplements with an increase in sales by 51.17% to sales of January-June 2022, almost to UAH 8.453 billion.

At the same time, sales of products for parenteral administration of medicines decreased by 20% to UAH 230.483 mln.