Business news from Ukraine

Business news from Ukraine

Ukraine’s energy system has surplus of electricity

A surplus of electricity was recorded in Ukraine’s energy system on Friday – its surplus was transferred to Poland’s energy system, the Energy Ministry said.

According to its information in a press release on Saturday, the surplus was transferred from 11.00 to 15.00 with a total supply of 1600 MWh.

As for the situation in the energy system today, two units of TPPs and one unit of CHPPs have gone into short-term repairs, at the same time, after the end of emergency works, a block and a building of thermal power plants have been connected to the grid.

There are 6 units of thermal generation in reserve, which will be activated in case of need, the Ministry of Energy noted.

For the current day, electricity imports are forecasted at 9,979 MWh, which is almost 4 times more than Friday’s figure. Exports to Moldova of 810 MWh are also expected. The last time exports were carried out in the first days of January.

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Fight for title of absolute world champion between Tyson Fury and Oleksandr Usyk has been postponed again

The fight for the title of absolute world champion between British Tyson Fury and Ukrainian Oleksandr Usyk, scheduled for February 17, will not take place, Suspilne reports, citing Mike Coppinger, a journalist for the American international sports TV channel ESPN.

“On Friday, February 2, the Briton suffered a cut on his face during a sparring session. Fury was stitched up, due to which the WBC belt holder will not have time to prepare for the fight in February,” the statement said.

It is noted that this is the second time the fight has been postponed.

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“Zaporozhkoks” reduced production by 2.1%

Zaporozhkoks, one of Ukraine’s largest coke and chemical producers and part of Metinvest Group, reduced blast furnace coke production by 2.1% year-on-year to 71.32 thousand tons from 72.86 thousand tons in January this year.

According to the company, 71.9 thousand tons of coke were produced in December 2023.

As reported, Zaporozhkoks increased its blast furnace coke output by 16% in 2023 compared to 2022, up to 856.8 thousand tons from 737.4 thousand tons.

“Zaporozhkoks produces about 10% of coke in Ukraine and has a full technological cycle of coke products processing. It also produces coke oven gas and pitch coke.

“Metinvest is a vertically integrated mining group of companies. Its major shareholders are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage the company.

Metinvest Holding LLC is the management company of Metinvest Group.

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“Metinvest” produces targets for military training

Metinvest Mining and Metallurgical Group has started manufacturing targets for military training at its Kryvyi Rih plants as part of Rinat Akhmetov’s Steel Front military initiative.

According to the company’s press release, Ukrainian defenders must maintain a high level of professional knowledge and skills to effectively fight the enemy at the front. In particular, in the use of small arms. To enable the military to systematically practice and improve their skills, Metinvest’s enterprises in Kryvyi Rih have started producing targets.

At the same time, Metinvest’s Kryvyi Rih facilities have manufactured and delivered approximately 30 target models at the request of the military. All of them have previously been successfully tested at training grounds.

The specialists have now mastered the production of three types of targets: Gong, Popper and Tree. They consist of sturdy frames on which the target is hung. Target equipment parts can be replaced as needed by installing new components on the frames.

As part of the Steel Front military initiative, Metinvest is implementing a number of initiatives aimed at improving the military training of the Ukrainian army. The company has become a partner in the construction of a mine action center in Chernihiv Oblast, which will provide training for more than 3,000 sappers. In addition, Metinvest is developing tactical medicine in Ukraine in cooperation with the PULSE charity foundation. Over UAH 13 million has been allocated to organize training for military personnel in the combat zone.

“Metinvest is a vertically integrated group of steel and mining companies. The Group’s enterprises are located mainly in Donetsk, Luhansk, Zaporizhzhya and Dnipropetrovsk regions. The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it. Metinvest Holding LLC is the management company of Metinvest Group.

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Changes in consolidated budget expenditures in 2021-2023 (%)

Changes in consolidated budget expenditures in 2021-2023 (%)

Source: Open4Business.com.ua and experts.news

Ukraine exported 7.7 mln tons of agricultural products in January

In January 2024, Ukraine exported 7.7 million tons of agricultural products, which is only 0.3% lower than the same indicator of the previous month. At the same time, not all the products managed to cross the border and some of the vehicles are queuing to leave, according to the Ukrainian Agribusiness Club (UCAB).

According to the UCAB, in January 2024, the structure of exports of Ukrainian agricultural products was dominated by grain crops, which were supplied to foreign markets in the amount of 5.3 million tons, which is 1% less than a month earlier. Corn accounted for 63% of supplies, wheat – 30%, barley – 6%.

Ukraine also exported 765 thsd tonnes of oilseeds, which is 1% less than in December. At the same time, supplies of rapeseed accounted for 52% of oilseed exports, soybeans – 40%, and sunflower seeds – 7%.

Vegetable oils were supplied to foreign markets in the amount of 664.5 thsd tonnes, which is 6% less than a month earlier. Sunflower oil accounted for 92% of exports, soybean oil – 5%, and rapeseed oil – 3%.)

In January 2024, Ukraine increased the export of oilcake by 20% to 591.1 thsd tonnes, of which 92% was sunflower cake and 8% was soybean cake.

In January, exports of other types of agro-industrial products decreased by 2% compared to December, with 391.6 thsd tonnes of them being supplied to foreign markets. UCAB analysts attributed the main trends in January exports to the increase in rapeseed exports compared to other oilseeds.

Usually, we managed to export the entire volume intended for this purpose before the New Year. This year, Ukraine still has a lot of exported products,” the experts explained.

The increase in exports of sunflower cake was explained by analysts by establishing exports to China through the existing sea corridor.

The export dynamics makes it possible to gradually reduce the balances of agricultural products intended for export and provide farmers with financial resources for further activities. It is very important to maintain these volumes, or even increase them. After all, not only the food security of Ukraine, but also of many countries of the world depends on the functioning of the Ukrainian agricultural sector,” UCAB summarized.

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