Business news from Ukraine

Business news from Ukraine

NAFTOGAZ EXPECTS PROFIT IN 2021-2024

NJSC Naftogaz Ukrainy plans to make profit based on the results of its activities in 2021-2024, the press service of the company has told Interfax-Ukraine.
Earlier, the Ministry of Finance of Ukraine published a report on fiscal risks and their impact on the state budget, in which it predicted that under the baseline scenario, Naftogaz will receive losses in the amount of UAH 4.3 billion in 2020, and UAH 7.5 billion in 2021, UAH 5.5 billion in 2022, and UAH 4.4 billion in 2023. According to the optimistic scenario for 2020-2023, the Ministry of Finance also expects extremely unprofitable activities from Naftogaz.
At the same time, Naftogaz notes that the draft financial plan assumes profitable activities in 2021-2024. The process of updating forecasts for 2021-2025 is underway.
“Like any other company, Naftogaz must consider the impact of the pandemic on our operations, the markets in which we operate, and on our customers. There are several important factors that can affect the results, but are outside the company’s control. This is the impact of the pandemic on the demand for energy in Ukraine and in the world, the severity and duration of quarantine, the resolution of the problem of accumulated debts of market participants, payment discipline, etc.,” the press service said.
“We are closely following Ukrainian and world statistics, recommendations of the leading analysts and legislative initiatives in the preparation and adjustment of our actions. So, despite the market situation, in the first half of the year we initiated a revision of capital and other costs to reduce expenses and increase efficiency,” the company said.
As reported, Naftogaz Ukrainy posted net loss in January-June 2020.

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UKRTRANSNAFTA INCREASES OIL TRANSIT TO EUROPE

Crude oil transit through Ukraine by pipelines to European countries and Belarus in January-September 2020 increased 5.5% (by 517,200 tonnes) compared to the same period in 2019, to 9.885 million tonnes, according to the data of JSC Ukrtransnafta.
The volume of oil transportation to refineries of Ukraine during this period amounted to 1.911 million tonnes, which is 8.7% (153,600 tonnes) more than in January-September 2019. Including oil transportation along the Odesa-Kremenchuk pipeline amounted to 839,000 tonnes (a rise of 32.2%).
Thus, in the first nine months of this year, the share of transit volume of the total oil transportation (11.796 million tonnes) amounted to 83.8%, the share of pumping to the country’s refineries – 16.2%.
In September 2020, oil transit through Ukraine by pipeline transport decreased 6.7% (by 90,200 tonnes) compared to the same month last year, to 1.255 million tonnes.
Pumping to Ukrainian refineries last month decreased 13.6% (by 32,100 tonnes),to 204,000 tonnes, including transportation of Ukrainian oil amounted to 112,100 tonnes, Azerbaijani oil – 76,800 tonnes, WTI oil – 15,100 tonnes.

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WINDROSE LAUNCHES FLIGHTS FROM KYIV TO LJUBLJANA

Windrose Airlines (Kyiv) will start operating flights on the Kyiv-Ljubljana route from Boryspil International Airport (Kyiv region) from October 24.
The flights will be operated twice a week on board Embraer-145 and ATR72-600 aircraft, the company’s press service said.
In addition, Windrose offers transit to Ljubljana from Lviv, Kharkiv, Dnipro and Odesa.
The company notes that from October 1, Ukrainians can cross the border with Slovenia without observing a ten-day self-isolation period if there is a negative PCR test for COVID-19, made no earlier than 48 hours.
Windrose was founded in 2003. In 2007, it received an operator certificate and began to perform regular and charter flights under the Windrose Airlines brand.
In 2019, Windrose carried 1.4 million passengers with an average of 28 daily flights.

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HEALTH MINISTRY OF UKRAINE TO PROCURE FLU VACCINES FOR RISK GROUPS INVOLVING CROWN AGENTS

The Ministry of Health, with the involvement of the British procurement agency Crown Agents, will purchase 1.41 million doses of influenza vaccines to vaccinate medical workers, educators, police and border guards, the press service of Chief Sanitary Doctor of Ukraine Viktor Liashko has reported.
The changes to government resolutions No. 255 dated March 13, 2019 and No. 129 dated February 19, 2020 were approved by the government at a meeting on Monday.
The agency will procure vaccines at the expense of the remaining balance of funds for 2019, provided for the procurement of drugs to accompany patients with cancer.
“All available vaccines have passed WHO prequalification and confirmed their safety. The countries of origin are the leaders in the production of vaccines in the world – France, the Netherlands and South Korea,” the press service said.

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INDONESIAN COMPANY PRAVITNA GENIUS SEL IN PARTNERSHIP WITH CANADIAN COMPANY PLAN TO LAUNCH PHARMACEUTICAL PRODUCTION IN KYIV REGION

The Ukrainian-Indonesian company Pravitna Genius Sel in partnership with the Canadian company Immunitor (Vancouver) plans to launch pharmaceutical production in Kyiv region by the end of the year.
Freddy Cahyono, the CEO of Provitna Genius Sel, told Interfax-Ukraine that the respective agreement of intent was signed on October 7 by the representatives of the companies with the participation of the Indonesian Embassy in Ukraine.
Pravitna Genius Sel’s investments in launching production in Kyiv region amounted to about $1 million. By the end of 2020, the company plans to obtain a GMP certificate.
One of the first drugs, the production of which is planned by Pravitna Genius Sel, will be a drug that will stimulate the immune system, which will not only treat diseases, but also prevent their occurrence.
For the production of the drug, Canadian raw materials will be used. Freddy Cahyono noted that the drug, which will be produced in Ukraine, is to be exported abroad, in particular to Indonesia. By the end of the year, the company intends to register the medicine in Ukraine.
In turn, Ambassador of the Republic of Indonesia to Ukraine Yuddy Chrisnandi noted the high export potential of the drugs produced in Ukraine.
“These drugs will be able to be used not only in Ukraine, but throughout the world, including in Indonesia. I hope that they will contribute to the fight against epidemics,” he said.

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SKYUP LAUNCHES FLIGHTS FROM KYIV TO KAYSERI (TURKEY)

SkyUp Airlines (Kyiv) will launch flights from Kyiv to Kayseri (Turkey) from December 27, 2020.
The airline’s press service said on Thursday that the flights will be operated twice a week: on Thursdays and Sundays.
The round-trip will cost at least UAH 5,400 without luggage. The duration of the trip is any of the passenger’s choice.
As reported, SkyUp will launch the Kyiv-Sofia (Bulgaria)-Kyiv flight for the period from December 23, 2020 to January 30, 2021.

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