Business news from Ukraine

Business news from Ukraine

NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 08/07/19

National bank of ukraine’s official rates as of 08/07/19

Source: National Bank of Ukraine

IHOR KOLOMOISKY SAYS ASSETS WORTH $8 BLN

Ukrainian businessman Ihor Kolomoisky said his assets are worth $7.5-8 billion, $500 million of which is in the U.S.
“This [his wealth] is impossible to assess. When we made a disclosure to PrivatBank, there was a conservative assessment of $7.5-8 billion,” he said in an interview with NV, excerpts from which have been published on the publication’s website.
Kolomoisky said that he has decided not to expand his business in the U.S. over an FBI investigation.
“For the metallurgical part, we already know – minus $200 million. As for those buildings, it’s also not great. The iron alloy plant is our core thing, we’re holding on to that asset,” he said.
“In America, I have $500 million in investment, all told. I received $2 billion in direct payments from Evraz alone, to my private account with PrivatBank. What the hell did I need loans for? I never took loans from Privat,” Kolomoisky said.
On December 18, 2016, Ukraine’s government, at the recommendation of the National Bank of Ukraine (NBU) and former shareholders of PrivatBank, whose biggest shareholders at the time were Kolomoisky and Hennadiy Boholiubov, decided to nationalize PrivatBank, at the time the largest financial institution in Ukraine. The ex-owners of the bank consider the nationalization, as a result of which they lost all of their shares, to be illegal, while PrivatBank and the state are demanding additional compensation from them for damages. The parties are involved in litigation both in Ukraine and in foreign jurisdictions.
On April 18, 2019, Kyiv’s District Administrative Court declared the nationalization of the bank illegal in a suit initiated by Kolomoisky. The decision is being appealed.
Kolomoisky earlier proposed to settle in exchange for a roughly 25% stake in PrivatBank.

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REGIONAL STRUCTURE OF RETAIL TURNOVER OF ENTERPRISES IN JAN–MAY, 2019

Regional structure of retail turnover of enterprises in jan–may, 2019

REGAL PETROLEUM INCREASES PRODUCTION BY 44%

Regal Petroleum Plc with assets in Ukraine in the second quarter of 2019 increased its average daily production of hydrocarbons on the Mekhediviska-Golotvschinska (MEX-GOL), Svyrydivske (SV), and Vasyschevskoye (VAS) gas condensate fields by 44%, or 1,244 barrels of oil equivalent (boepd) compared to the second quarter of 2018, to 4,073 boepd. According to a report by Regal on the London Stock Exchange’s website, in particular, the average daily production of hydrocarbons in April-June of this year on MEX-GOL and SV deposits amounted to 3,113 boepd (up by 40.2% compared to Q2, 2018), on VAS some 960 boepd (57.6% more).
The total average daily production of natural gas on the three fields in April-June 2019 amounted to 521,023 cubic meters (41.5% more), condensate some 97.9 cubic meters (58.9% more), and liquefied natural gas (LPG) some 40.5 cubic meters (47.3% more).
“At the MEX-GOL field, the drilling of well No. 119 is continuing, having reached a depth of approximately 4,789 meters. The well has a target depth of 4,850 meters, with drilling, completion and testing operations planned to be completed by the end of September 2019 and, subject to successful testing, production hook-up during the fourth quarter of 2019,” the statement reads.
In 2018, Regal increased its average daily production 67% at the first two fields (to 2,717 boepd) and 11.2% at the third one (to 674 boepd).

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ZELENSKY APPOINTS NEW HEAD OF ZAKARPATTIA REGIONAL ADMINISTRATION

President of Ukraine Volodymyr Zelensky has appointed Ihor Bondarenko head of Zakarpattia Regional State Administration.
“To appoint Bondarenko Ihor Samoilovych head of Zakarpattia Regional State Administration,” according to presidential decree No. 492 of July 5.
By another decree, Zelensky dismissed Ivan Duran from the post of acting head of Zakarpattia Regional State Administration.

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VOLUME OF CONSTRUCTION PRODUCTION BY TYPE BY REGION IN JAN-MAY 2019 (MLN.UAH)

Volume of construction production by type by region in jan-may 2019 (mln.Uah)

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