In January-August 2024, Ukrgasvydobuvannya JSC (UGV) increased commercial gas production by 7.2% compared to the same period last year – up to 9.26 billion cubic meters, the company reported on its Facebook page.
During this period, UGV completed drilling 62 wells, of which 52 were put into operation. Of these, 23 have an initial daily flow rate of more than 100 thousand cubic meters.
“We continue to actively drill wells, introduce new technologies, explore new fields – we do everything to increase gas production every day. The cubic meters of gas and oil produced make Ukraine more stable and provide a reliable rear for our soldiers,” said Serhiy Lahno, Chairman of Ukrgasvydobuvannya.
As reported, in 2023, the company produced 13.224 bcm of commercial gas, which is 0.679 bcm more than in 2022.
“In 2023, Ukrgasvydobuvannya launched 86 new wells, 24 of which had an initial flow rate of more than 100 thousand cubic meters.
NJSC Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.
In Ukraine, following the European Union, butter prices continue to rise, with prices in Europe reaching record levels, according to Infagro, an industry analytical agency.
“Not all Ukrainian butter producers can take advantage of the opportunity to make good money on butter exports, as it was in 2022. There is currently a physical lack of raw materials to produce large volumes,” the analysts said.
According to their information, due to rising prices and a number of other factors, butter production decreased slightly in August. This will be followed by a decline in production of this commodity due to a lack of raw materials at affordable prices.
They noted that domestic butter prices are also rising alongside export prices, albeit with a certain lag. Butter prices will continue to rise, at least domestically. Analysts predict a price collapse in foreign trade in mid-autumn.
Infagro noted that the production of spreads and vegetable-cream mixtures is currently stable, but should increase in the near future. Demand for alternative milk fats will increase given the current price of butter.
MHP Food and Agricultural Holding, Ukraine’s largest chicken producer, reduced sales of sunflower oil by 7% to 229.27 thousand tons in January-June 2024 compared to the same period last year.
“This is mainly due to a decrease in the production of sunflower cake,” the holding said in a report on the London Stock Exchange on Friday.
“In January-June 2024, MHP also reduced sales of soybean oil by 15%, to 23.82 thousand tons, compared to the same period last year, but they remained stable compared to the previous quarter.
Revenues of the vegetable oils segment in January-June 2024 decreased by 32% to $236 mln, which led to a decrease in adjusted EBITDA (excluding IFRS 16) to $27 mln compared to $48 mln in the same period last year, which the agricultural holding explains by the decline in world oil prices.
“MHP is the largest chicken producer in Ukraine. The company produces grain, sunflower oil, and meat processing products.
As reported, the company received $142 million in net profit in 2023 compared to $231 million in net loss a year earlier. The group’s revenue increased by 14% to $3.021 billion last year.
“In the second quarter of 2024, MHP earned $29 million in net profit, up 71% compared to the second quarter of 2023. Its EBITDA increased by 40% to $153 million, while revenue decreased by 5% to $770 million. The agroholding attributed the increase in profitability to improved performance in the crop sector.
Overall, net profit decreased by 33% to $45 million for the half-year, due to foreign exchange losses of $81 million against $5 million in the first half of 2023. EBITDA increased by 20% to $280 million on a 4% decrease in revenue to $1.489 billion, driven by crop production.
MHP’s founder, majority shareholder and Chairman of the Board is Ukrainian businessman Yuriy Kosyuk.
Number of dead and wounded civilians in Ukraine from 24.02.2022 till 30.06.2024 UN data
Source: Open4Business.com.ua
This week, the Ministry of Digital Transformation (Mintsifr) added four new issues of military domestic government bonds (OVDPs) with maturity dates from April 2025 to June 2026 to Diia, traditionally naming them after the occupied cities, towns and territories in Ukraine.
In particular, the bonds are “Sudak” with a nominal rate of 16.24% per annum and a maturity date of April 30, 2025, “Gurzuf” – 15.25% and June 4, 2025, “Lazurne” – 14.72% and September 10, 2025, “Dzharylgach” – 15.47% and June 10, 2026.
The Ministry of Digital Transformation reminded that with the addition of new securities, the total number of them in Diia has increased to 11. Now you can also buy there issues maturing on November 20, 2024 (Askania Nova), January 15, 2025 (Simferopol), March 12, 2025 (Makiivka), June 18, 2025 (Yevpatoria), July 23, 2025 (Dzhankoy), October 15, 2025 (Kerch) and January 28, 2026 (Bakhchisarai).
The intermediaries are the state-owned Sens Bank (formerly Alfa-Bank) and Ukrgasbank, as well as ICU, bond.ua and Kinto.
As of September 6, there were UAH 1 trillion 677.30 billion worth of domestic government bonds in circulation. The largest portion is held by commercial banks (UAH 742.74 billion) and the NBU (UAH 677.60 billion), while legal entities and individuals hold UAH 166.46 billion and UAH 63.52 billion, non-residents UAH 26.22 billion, and territorial communities UAH 0.76 billion, respectively.
Since the beginning of the year, individuals have increased their investments in domestic government bonds by UAH 11.89 billion, while their total volume in circulation has increased by UAH 105.67 billion. According to the Settlement Center, there were almost 193 thousand investors in Ukraine as of September 1 this year, compared to 166.1 thousand at the beginning of the year.
The National Bank clarified that in January-August this year, the government of Ukraine raised almost UAH 319 billion in equivalent from the placement of domestic government bonds at auctions: UAH 232.96 billion, $1 billion 456.6 million and EUR670.8 million. UAH 133.94 billion, $1 billion 126.6 million, and EUR 841.2 million were allocated to redeem previously issued bonds during this period.
Thus, the state budget for the first eight months of this year was financed by UAH 105.20 billion in domestic government bonds, including UAH 9.11 billion in August.
At the latest primary auctions on September 3, the Ministry of Finance maintained the placement rate for one-year hryvnia bonds at 14.65% and raised the rate for two-year securities to 15.6% and for three-year securities to 16.6%-16.9% per annum.
The government has launched the Ukrainian market for explosives and detonators by canceling most permits and licenses and simplifying procedures, said Deputy Prime Minister for Innovation, Education, Science and Technology Development and Minister of Digital Transformation Mykhailo Fedorov.
“We are opening the domestic market for explosives and detonators – the government has decided to scale up the production of ammunition,” he wrote on his Telegram channel on Friday.
According to the Deputy Prime Minister, the production of Ukrainian ammunition currently depends on the import of explosives and detonators. At the same time, Ukraine has its own potential for developing this sector, so the market needs to be stimulated and better conditions for manufacturers created.
“To increase the volume and accelerate the production of Ukrainian ammunition, we are killing all the bureaucracy for manufacturers. Companies will be able to produce, buy and import explosives and components without permits and licenses,” Fedorov wrote.
He clarified that it currently takes at least 12-18 months to complete the paperwork to start producing explosives. It takes about six months to obtain a waste management license alone, and another three months to obtain a permit for waste operations.
There are about 10 different bureaucratic documents to be processed.
As a result of the changes envisaged by the government’s resolution, the process of launching production could be reduced to one month, Fedorov said.
He noted that earlier, the markets for drones, robots, electronic warfare, and ammunition were opened in a similar way, which led to results on the battlefield.
