Oil prices will range between $80 and $100 a barrel this year, with global oil demand rising by 1.9 million bpd, according to Russell Hardy, chief executive of international trader Vitol.
“That seems like a reasonable range for the market given that OPEC is controlling global inventory levels,” he said during a conference in Lausanne. – Supply in the market is really tight.”
Brent crude futures topped $90 a barrel last week amid geopolitical risks and signs of strong demand.
The International Energy Agency (IEA) forecast global oil demand growth of 1.4 million bpd this year, 500,000 less than the forecast of Vitol’s head.
Fuel demand in China will continue to grow, Hardy expects, but the peak will come “relatively soon”.
Quotes of interbank currency market of Ukraine (UAH for €1, in 01.01.2024-31.01.2024)
Source: Open4Business.com.ua and experts.news
In January-March 2024, Ukrzaliznytsia (UZ) operated at a profit, UZ CEO Yevhen Lyashchenko said at a meeting with journalists, but did not specify the specific amount of the profit.
According to the presentation made at the meeting, in 2023, UZ’s net profit amounted to UAH 5 billion.
Among the key factors that had a positive impact on UZ’s financial results, the presentation mentions revenue from passenger transportation, which increased due to an 11% increase in passenger turnover (+1.42 billion UAH) a decrease in the cost of materials and repairs due to cost-saving measures, including the use of old materials (+UAH 4.81 billion), a more stable hryvnia exchange rate than initially expected (+UAH 4.53 billion) and the restoration of the usefulness of assets in the de-occupied territories (+1.88 billion).
In addition, the cancellation of the land tax liability for facilities in the occupied territories (+UAH 0.69 billion), reduction of the land tax rate due to the re-registration of land plots (+UAH 0.55 billion), and growth in revenues from auxiliary activities: security services by 25% and passenger services by 24% (+UAH 527 million) had a positive impact.
At the same time, UZ’s financial performance was negatively affected by a decline in freight revenue in 2023 due to the temporary suspension of the grain corridor and conventional restrictions on agricultural exports to the EU (-UAH 8.57 billion), as well as a salary increase to avoid staff outflow (-UAH 3.41 billion).
According to Lyashchenko, UZ transferred 50% of its profit in 2023 to the state budget in the form of dividends.
The UZ CEO also noted that the company continues to restore infrastructure damaged by Russian attacks at its own expense. In addition, as one of the largest electricity distribution operators, it has invested in the protection of substations and critical energy infrastructure.
Pharmacy Chain Pharmacy PrJSC (Odesa) plans to sell nine non-residential premises with a total value of UAH 31.879 million to Vinster LLC (Odesa), a retail real estate company.
According to the pharmacy chain’s disclosure in the National Securities and Stock Market Commission (NSSMC), its shareholders will consider the deal at a meeting on April 26.
The total area of the premises to be sold exceeds 4690 square meters.
As reported, Pharmacy Chain (Odesa) reduced its net loss by 10 times in 2023 to UAH 1.074 million.
The company is engaged in retail trade in pharmaceuticals. The ultimate beneficiary of the chain is Yuriy Rodin.
Vinster LLC is engaged in the leasing of retail real estate. The ultimate beneficiary of the company is Leonid Shtein.
The National Bank of Ukraine has revoked the licenses of Ardian Leasing Company LLC and FC Aktiv+ LLC on the basis of submitted applications, the regulator’s website has reported.
In addition, these companies are excluded from the State Register of Financial Institutions due to the revocation of licenses.
Another two non-banking financial institutions (NFIs) on the basis of their own applications, the regulator has agreed to change the scope of licenses for the activities of financial companies: LLC FC “Percent” – to exclude from the license such services as financial leasing and provision of guarantees, LLC “Siroko Finance” – to exclude the service of financial leasing from the license.
At the same time, the NBU notes that after the change in the scope of licenses for the activities of the financial company LLC “FC “Percent”, LLC “Siroko Finance” have the right to provide funds and bank metals on credit, as well as factoring service.
The corresponding decisions of the NBU Committee on supervision and regulation of non-banking financial services markets adopted at a meeting on April 5, 2024.
Ukrainian metallurgical enterprises in January-March this year increased production of total rolled products by 35.5% year-on-year to 1.389 million tons from 1.025 million tons, according to preliminary data.
According to Ukrmetallurgprom on Tuesday, steel production increased by 36.6% to 1.687 million tons from 1.235 million tons in January-March 2023.
Pig iron production increased by 32.1% to 1.589 million tons from 1.203 million tons.
As reported, in January 2014, the company increased production of total rolled products by 75.9% year-on-year to 453 thousand tons from 257 thousand tons, steel by 91.6% to 544 thousand tons from 284 thousand tons, and pig iron by 44.5% to 555 thousand tons from 384 thousand tons.
In 2M2024, rolled products output increased by 52.5% y-o-y to 900 thousand tons from 590 thousand tons, steel output by 52% to 1.076 million tons from 708 thousand tons, and pig iron output by 42.5% to 1.050 million tons from 737 thousand tons.
In 2023, Ukraine increased production of total rolled products by 0.4% compared to 2022 to 5.372 million tons, but reduced steel production by 0.6% to 6.228 million tons and pig iron by 6.1% to 6.003 million tons.
In 2022, Ukraine reduced production of total rolled products by 72% compared to 2021, to 5.350 million tons, steel by 70.7% to 6.263 million tons, and pig iron by 69.8% to 6.391 million tons.
In 2021, the company produced 21.165 million tons of pig iron (103.6% compared to 2020), 21.366 million tons of steel (103.6%), and 19.079 million tons of rolled products (103.5%).
