Business news from Ukraine

Business news from Ukraine

UKRAINE SEES EXPORTS OF POULTRY RISE BY 39%

Ukraine in January-March 2019 increased exports of poultry by 39% compared to the same period of 2018, to 103,600 tonnes, the State Fiscal Service has reported.
At the same time, according to its data, in monetary terms exports of these products increased by 31%, to $146.9 million.
Imports of poultry in January-March 2019 decreased 0.5%, to 30,700 tonnes, in monetary terms decreased 6%, to $12.3 million.
According to the service, in January-March 2019 pork exports decreased 47.4%, to 316 tonnes. This product was delivered for $702,000.
During this period, import of pork to Ukraine increased fourfold, to 7,400 tonnes, in monetary terms it amounted to $13.5 million, which is 4.4 times more than in January-March 2018.

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MEN’S SQUASH TEAM OF UKRAINE TAKES BRONZE IN EUROPEAN TEAM CHAMPIONSHIPS IN LISBON

The Ukrainian men’s national squash team has won a bronze medal in the European Team Championships Division 3 in Lisbon (Portugal), the Squash Federation of Ukraine has said on its website.
The Ukrainian squad defeated the Norwegian team with a 2-1 score in the match for the third place.
Squash veterans Kostiantyn Rybalchenko and Valeriy Fedoruk, along with young members Yaroslav Bagan, Dmytro Pogrebniak, and Artur Sikora were members of Ukraine’s team.

Team statistics and the final tally are below:
Playoffs matches
Match for places 1-8
Ukraine – Slovenia: 4-0
Valeriy Fedoruk – Martin Mosnik, 3-0 (11-7, 11-6, 11-5)
Yaroslav Bagan – Mark Hafner, 3-1 (11-13, 11-8, 11-5, 5-11, 11-7)
Kostiantyn Rybalchenko – Blaž Porenta, 3-0 (11-6, 11-3, 11-8)
Artur Sikora – Jošt Dolinar, 3-0 (11-4, 11-6, 11-5)

Match for places 1-8
Ukraine – Poland: 1-2
Valery Fedoruk – Adam Pelczynski, 3-1 (11-3, 5-11, 11-6, 11-3)
Yaroslav Bagan – Adrian Marszał, 0-3 (4-11, 4-11, 2-11)
Kostiantyn Rybalchenko – Piotr Hemmerling, 2-2 (11–4, 5–11, 17–15, 8–11)
Artur Sikora – Filip Jarota, 0-3 (8-11, 9-11, 9-11)

Match for 3rd place
Ukraine –Norway: 2-1
Valeriy Fedoruk – Sindre S. Roaldsøy, 3-0 (11-6, 11-4, 11-4)
Yaroslav Bagan – Trym Aasness, 0-3 (7-11, 3-11, 8-11)
Kostiantyn Rybalchenko – Gard Aasness, 3-0 (12-10, 11-7, 11-5)
Artur Sikora – Patrick Hansen, 2-2 (7-11, 7-11, 11-9, 11-8)

The final standing of the teams:
Poland
Austria
Ukraine
Norway
Russia
Luxembourg
Slovenia
Malta

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EUROPEAN INVESTMENT BANK WILL ISSUE GRANT TO DEVELOP HIGHWAY CONSTRUCTION IN UKRAINE

The European Investment Bank (EIB) will provide grant assistance to the State Agency of Automobile Roads of Ukraine (Ukravtodor) to develop a feasibility study for the construction of the Lviv-Mukachevo-Uzhgorod highway with a branch to the Hungarian border, the agency’s press service has reported. “This corridor is very important for Ukraine, because the export flow to the countries of Southern and South-Western Europe is directed through it. In addition, the new road will also provide a stable communication with Zakarpattia region,” Oleksandr Kava, the adviser to the Ukravtodor head, said.
According to the report, the new road will connect with the Hungarian M3 highway through the Dyida checkpoint and the Slovak D1 highway through the Uzhgorod checkpoint.
The maximum speed on the highway will be 130 km/h.
“This road will reduce the trip time in the direction of Lviv-Mukachevo to an hour and a half instead of the current 3.5 hours,” the report says.

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UKRAINIAN GOVERNMENT ANNOUNCES TENDER TO DEVELOP SHELF UNDER PRODUCT SHARING AGREEMENT

The Cabinet of Ministers of Ukraine on April 12 announced a tender to develop the Dolphin Black Sea shelf section under the product sharing agreement (PSA). Government resolution No. 70 dated April 12, 2019 has been published in the Uriadovy Kurier government’s newspaper. The term of the PSA is 50 years. The winner of the tender must provide a geological survey of the subsoil at the site, including the drilling of at least five wells during the first stage (five years) of geological exploration. The minimum investment that must be made in this period will be determined by the results of the tender, but must be at least UAH 1.5 billion.
The maximum part of compensation products, thanks to which the investor can be compensated for his expenses, is 70% of the total volume of production. The share of the state in profitable products should be at least 11% of its total volume.
In order to promote the holding of a fair tender, persons who have special permits to use subsoil but do not properly implement the subsoil programs are not allowed to participate in the tender.
As reported, the initiative to develop the Dolphin section belongs to Frontera Resources, engaged in the exploration and production of gas and oil.

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