Business news from Ukraine

Business news from Ukraine

UKRGAZVYDOBUVANNIA PLANS TO BOOST PRODUCTION

JSC Ukrgazvydobuvannia begins to use a new technology for Ukraine’s basin analysis and modeling of hydrocarbon systems for prospecting and exploration of hydrocarbons, the company’s communications department said.
“Basin modeling is another step towards reducing risks, primarily drilling. Thanks to this technology, we will be able to improve the accuracy of risk assessment both for individual promising objects and for large geological structures in order to increase the resource base and production of Naftogaz,” Director of the Naftogaz Exploration and Production Division Oleksandr Romaniuk said, whose words are quoted in a press release on Thursday.
The company explained that based on the analysis of spatial dynamic 4D models of hydrocarbon systems, the company will predict risks, calculate the cost of projects and make decisions on production plans, in particular, drilling new wells.
The company plans to use basin analysis to assess the oil and gas potential of the Black Sea areas, prospect for hydrocarbons in the Carpathian fold belt and additional exploration of licensed areas in the Dnipro-Donetsk basin, the report says.
In UkrNDIGas, a research division of Naftogaz, the new direction is headed by Felipe Rodriguez, who has over 20 years of experience in the basin analysis industry and has worked on the development of oil and gas deposits in a number of countries, in particular, in BP, Repsol and Cepsa companies.
As the company said, the technology of basin modeling is actively used by the leading international oil and gas companies ExxonMobil, Shell, BP for forecasting and planning exploration and development processes.

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SPANISH BRAND BIMBA Y LOLA OPENS SECOND STORE IN UKRAINE

The first in Ukraine store of the Spanish brand of women’s clothing and accessories Bimba Y Lola with an area of 74 square meters opened in the Ocean Plaza shopping and entertainment center (Kyiv), the press service of the mall has told Interfax-Ukraine.
Founded in 2005 by the Dominguez sisters, premium family brand Bimba Y Lola is known for bold prints, fancy cuts and vibrant palettes.
Currently, there are 269 stores of this brand in the world.
Earlier, the Bimba Y Lola brand in Ukraine was represented by a small corner in the Kyiv TsUM (Central Department Store).

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PRODUCTION OF TRACTOR, MOUNTED AND TRAILED MOWERS IN UKRAINE DECREASED FROM 3,590 TO 600 ITEMS

Production of tractor, mounted and trailed mowers in Ukraine decreased 83.3% over 2017-2020 – from 3,590 items to 600 items, while their imports (excluding imports from China) tripled – from 1,430 items to 4,240 items, the current trend threatens to completely oust this domestic equipment from the Ukrainian market. This was announced by the national research center Institute of Agrarian Economics on the website on Thursday.
According to the institution, in 2017, production of mowers in Ukraine amounted to 3,590 items, in 2018 – 1,550 items, in 2019 – 1,110 items, in 2020 – 600 items, and in the first half of 2021 – 250 items.
At the same time, imports of this equipment to Ukraine (excluding imports from China) amounted to 1,430 items in 2017, some 1,550 items in 2018, some 3,530 items in 2019, and in 2020 – 4,240 items, while in the first half of 2021, some 3,190 items were imported.
Thus, in the first half of the year, the share of mowers produced in Ukraine was 7.2% in the Ukrainian market of this equipment, while in 2017 it was 10 times higher – 71.6%. The institute clarified that this statistics does not take into account data on mowers imported from China, given which the decrease in the share of Ukrainian equipment in the market may turn out to be even more significant.
“The current situation testifies to the gradual abandonment of domestic mowers in favor of foreign ones, a wide range of which allows an agricultural enterprise to choose equipment in accordance with its own capabilities and needs,” Institute of Agrarian Economics researcher Yaroslav Navrotsky is quoted in the report.
The researcher emphasized that in order to reduce the growing dependence on imports of machinery in general and mowers in particular, Ukraine needs to create favorable conditions for attracting foreign investors, as well as to establish production of world-class mowers in Ukraine by organizing joint ventures.
As reported, in January-July 2021, farmers received UAH 546 million from the state budget under the program of partial compensation for the cost of domestic agricultural machinery and equipment.

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TRANSIT THROUGH UKRAINE WITHIN 48 HOURS TO BE POSSIBLE WITHOUT SELF-ISOLATION, TESTING FROM SEPTEMBER 20

From September 20, transit through Ukraine within 48 hours will be possible without self-isolation, installation of the application “Vdoma” and testing, according to the State Border Guard Service of Ukraine.
Thus, in order to prevent the spread of acute respiratory disease COVID-19 caused by the coronavirus SARS-CoV-2 in Ukraine, the resolution of the Cabinet of Ministers of Ukraine of September 13, 2021 No. 954 amended the resolution of December 9, 2020, No.1236.
“Foreigners and stateless persons who enter Ukraine for transit and have documents confirming departure from the country within 48 hours, are released from self-isolation, installation of the application ‘Vdoma’ and testing in Ukraine,” a statement on the Facebook page of the State Border Guard Service said on Wednesday.
The agency reported that the need to have an insurance policy (certificate) issued by an insurance company registered in Ukraine, covering the costs of treatment COVID-19, observation, and is valid for the entire period of stay in Ukraine, remains unchanged for all foreign citizens and holders of a residence permit, regardless of the country of arrival to enter Ukraine.
All foreign citizens, holders of a residence permit, as well as stateless persons must have one of these documents upon arrival in Ukraine.
In particular, a document confirming the receipt of one or more doses of the vaccine against COVID-19, included by WHO in the list of permitted for use in emergencies; or a foreign COVID certificate confirming vaccination against COVID-19 with vaccines that are included by WHO in the list of permitted for use in emergencies, a negative result of testing for COVID-19 by PCR or recovery of a person from COVID-19; or a negative PCR test or rapid test for SARS-CoV-2 coronavirus antigen performed no more than 72 hours before entry.
Certificates of testing and vaccination are not required for children under 12 years of age.
“Foreign citizens over the age of 18 who have not been vaccinated against coronavirus and cross the state border for entry must have a negative test result and install a mobile application ‘Vdoma’ egardless of the length of stay in Ukraine,” the State Border Guard Service said.
Self-isolation is not used if PCR testing or rapid antigen testing is performed within 72 hours of entry and a negative result is obtained.
The decision comes into force on September 20, 2021.

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90% OF UKRAINIANS CONSIDER CORRUPTION AS COUNTRY’S MAIN PROBLEM

About 90% of respondents consider corruption one of the main problems of Ukraine, according to a survey by the State Bureau of Investigation on the attitude of Ukrainians to corruption, published in the Telegram channel of the department.
“Some 85-90% of all respondents agreed that corruption is one of the main problems of Ukraine. Although 51% of respondents in the Telegram channel said that at least once in their lives they gave a bribe, and on Twitter this figure is as much as 71.6%,” the department reported.
At the same time, the SBI reminded that the bribe-taker is not only the one who takes the money, but also the one who gives it, without exceptions or excuses.
It is also noted that 10-15% of respondents do not know what an “illegal benefit” is. The department explained that the illicit benefit is cash or other property, benefits, services, intangible assets, any other intangible or non-monetary benefits that are promised, offered, provided or received without legal grounds.
The SBI also called on Ukrainians to apply to the department for extortion of bribes.

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UKRAINE INCREASES CAST IRON EXPORT

Ukraine in January-August this year increased exports of cast iron in quantity terms by 6% compared to the same period last year, to 2.173 million tonnes.
According to statistics released by the State Customs Service on Wednesday, during the specified period, exports of cast iron in monetary terms increased by 93.7%, to $1.127 billion.
At the same time, the products were mainly exported to the United States (57.07% of supplies in monetary terms), Italy (20.38%) and Turkey (10.89%).
Over eight months of 2021, Ukraine imported 149 tonnes of cast iron for $163,000 from Germany (64.42%), the Russian Federation (28.22%) and Slovakia (7.36%), while in January-August 2020 it imported 412 tonnes for $292,000.

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