Business news from Ukraine

Business news from Ukraine

NAFTOGAZ APPOINTS NEW HEAD OF ITS SWISS SUBSIDIARY

NJSC Naftogaz Ukrainy has appointed Oleksandr Scherba as head of its Swiss subsidiary, Naftogaz Trading Europe S.A., instead of Willem Coppoolse.
The relevant notice was published in the Swiss press in early February.
Scherba, who served as Ambassador Extraordinary and Plenipotentiary of Ukraine to Austria from November 2014 to April 2021, joined Naftogaz in October last year as Chief Adviser to the CEO on international activities’ coordination.
Coppoolse completed his work at Naftogaz back in May 2021, where he was responsible for the trading direction, and since January 2022 he has been appointed director of the Energy Resources of Ukraine (ERU) group of companies.
As reported, Naftogaz resumed imports of natural gas in early February 2022.
Naftogaz Ukrainy unites the largest oil and gas producing enterprises of the country (100% of Ukrgazvydobuvannia and 50% plus 1 share of PJSC Ukrnafta). The Group also has a monopoly on natural gas storage in underground storage facilities (100% of Ukrtransgaz) and oil transportation by pipeline across the country (100% of Ukrtransnafta), and is actively developing gas supplies to household consumers.

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PROCESS OF SEPARATING ASSETS OF UKRNAFTA HAS BEEN SUSPENDED FOR NOW

The process of unbundling the assets of PJSC Ukrnafta between NJSC Naftogaz Ukrainy and minority shareholders has been put on hold for now, although it was planned to be completed at the end of 2021, businessman Ihor Kolomoisky has said.
“Yes, on a pause… Naftogaz faced the problem of public opinion, government, the like, they need to get permission for some significant transactions, and so on,” he said in an interview with Ukrayinska Pravda.
According to the businessman, Naftogaz was the initiator of the unbundling process, and he supported it.
“Since life together does not work out, it is necessary to separate intelligently and culturally,” he said.
Earlier, at the end of November, President of Ukraine Volodymyr Zelensky said that the unbundling of Ukrnafta did not take place, since the state did not yet have the necessary funds to buy the assets.
As reported, in November-December 2021, due to the lack of a quorum, two meetings were not held at which it was planned to consider the issue of unbundling Ukrnafta’s assets between NJSC Naftogaz Ukrainy and minority shareholders – Ihor Kolomoisky and his partners. Another meeting of shareholders with a similar agenda is scheduled for February 17, 2022.
Ukrnafta is the largest oil company in the country. NJSC Naftogaz Ukrainy owns 50% plus 1 share in Ukrnafta, a group of companies associated with the former shareholders of PrivatBank – about 42% of shares.

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UKRAINE’S AIRPORTS RAISES UP PASSENGER TRAFFIC BY 135%

Ukrainian airports in January 2022, according to recent data, served almost 1.226 million passengers, which is 135.3% more than in the same month last year.
According to the website of the State Aviation Service of Ukraine, in international traffic, passenger traffic of airports increased by 143.8% in January of this year, to 1.103 million people.
Ukrainian airlines served 515,500 people during the reporting period (79.6% more). In particular, 458,600 people were transported in international traffic (81% more).
At the same time, in January of this year, the airlines operated 4,700 commercial flights (an increase of 51.6%), including 3,600 international ones (56.5% more).

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 15/02/22

National bank of Ukraine’s official rates as of 15/02/22

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF FEBRUARY 15

Official rates of banking metals from national bank as of February 15

One troy ounce=31.10 grams

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INDIA CALLS ON INDIAN CITIZENS TO LEAVE UKRAINE

The Indian embassy in Kyiv continues to function as usual, but calls on Indian citizens in Ukraine to consider temporarily leaving the country. “In view of the uncertainties of the current situation in Ukraine, Indian nationals in Ukraine, particularly students whose stay is not essential, may consider leaving temporarily. Indian nationals are also advised to avoid all non-essential travel to and within Ukraine,” the embassy said in a statement published on its website.
The embassy also asked Indian citizens to inform it of the status of their presence in Ukraine to enable the embassy to reach them where required.
“The embassy continues to function normally to provide all services to Indian nationals in Ukraine,” it said.

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