PJSC Ukrnafta boosted oil and gas condensate production in January 2019 by 4.4% compared to the same period last year, to 128,000 tonnes, while natural gas output grew by 7.4%, to 99 million cubic meters, the company’s press service has said.
“The increase in production is due to repairs to prospective wells and measures to intensify production, including perforating operations with the use of foreign-made systems with increased efficiency,” it said.
The company’s production in February continues to grow it said. So, as of February 14, the average daily production of oil and condensate was 4,200 tonnes vs. 4,100 tonnes in January 2019.
As reported, Ukrnafta in 2018 increased the production of crude oil and gas condensate by 5% (0.069 million tonnes) compared to 2017, to 1.448 million tonnes. Natural gas production in 2018 decreased by 2.3% (0.026 million cubic meters), to 1.082 billion cubic meters, production of liquefied gas fell by 5.2% (6,000 tonnes), to 110,000 tonnes.
Ukrnafta is the largest oil producing company in the country. NJSC Naftogaz Ukrainy owns 50% + one share of Ukrnafta, a group of companies associated with former shareholders of PrivatBank holds about 42% of its shares.
Mykolaiv seaport in January 2019 increased cargo handling by 18.84% compared with January 2018, to 2.321 million tonnes.
According to the data of the Ukrainian Sea Ports authority, during this period the port increased the transshipment of exported cargo by 22.69%, to 1.78 million tonnes, imported cargo by 13.95%, to 491,970 tonnes, and coastal freight handling fell by 6.4%, to 47,330 tonnes. The port did not transship transit cargo.
In January 2019, the port cut the transshipment of liquid cargo by 1.12%, to 172,680 tonnes, increased dry bulk freight by 19.8%, to 1.838 million tonnes, packaged ones by 38.27%, to 310,770 tonnes.
As reported, Mykolaiv seaport in 2018 increased cargo handling by 24.09% compared with 2017, to 29.2 million tonnes.
ASKA insurance company (Kyiv) has paid UAH 1.635 million to an agricultural enterprise for the loss of apple harvest, the insurer has said in a press release.
According to the report, in July 2018, it rained with thunderstorms and hail in the territory of the insured gardens, a significant part of the apple harvest was damaged and lost.
“After the hail, a significant part of the apple harvest, which should be sold fresh, could only be handed over for processing. Another part of the fruit was completely destroyed. Deltafruit suffered significant losses,” Anton Ruban, the owner of the agricultural firm, said.
Three of the five insured sites were also affected. In the first two, due to hail, harvest quality deteriorated by 83-85%, and losses in both the quality and quantity were obtained in the third site.
“ASKA compensated for the loss of quality at the rate of UAH 5.6 per each kilogram of apples. The compensation cost for the lost amount is UAH 3.6 and UAH 9 per kilogram, respectively. These estimates are specified in the insurance contract and depend on the apple variety. On January 18, the client received 70% of the payment, the rest of the money was transferred in stages. We completed the settlement early February,” Corporate Insurance Director for ASKA Olena Shustur said.
ASKA said that this is the first case of such a large-scale payment in Ukraine related to damage to the harvest of fruit trees. The damage was caused by hail, secondary diseases due to hail, and most importantly, damage from the loss of commercial quality of fruits, which accounted for most of the damage, was also covered.
Turkey’s Emsolt Investments Holdings Ltd. has started building a solar power plant with a power capacity of 11 MW in Khmelnytsky region and plans to expand the project. The information was presented at a meeting of Chairman of the State Agency for Energy Efficiency and Energy Saving Serhiy Savchuk with representatives of the company last week, the press service of the agency has reported. The sides discussed the prospects of investing in solar power plants and biogas units at the meeting.
Emsolt in 2017 proposed projects to build solar power plants in Ukraine with a total capacity of 100 MW. At present, the company is building plants in Zhytomyr and Khmelnytsky regions with a total capacity of near 20 MW.
Canada’s Fairfax Financial Holdings Limited Group LTD (FFHL Group LTD) acquired 99.98% of the equity capital of the insurance company (IC) AXA Insurance (Kyiv) for $16.24 million. Some 26,193,416 shares with a nominal value of UAH 10 each were purchased at a price of $0.62 (UAH 16.55) per share at the official forex rate of the National Bank of Ukraine, the insurer said in an official statement.
Before FFHL Group LTD took possession of the dominant controlling stake, the company and its affiliates were not owners, they did not directly or indirectly own the shares of IC AXA Insurance.
As reported, AXA Group (France) successfully completed a deal with Fairfax Financial Holdings Limited to sell its subsidiaries in Ukraine, Private Joint Stock Company (PrJSC) Insurance Company AXA Insurance and Additional Liability Company (ALC) Insurance Company AXA Life Insurance (both are based in Kyiv).
IC AXA Insurance has been in the Ukrainian insurance market since 2007. The company has more than 780 employees and 1,220 agents throughout Ukraine. At the end of last year, the company collected UAH 1.9 billion in insurance premiums, which was 13% up on 2017.
AXA Life Insurance was registered in July 2013. Its premiums at the end of last year amounted to UAH 93 million, which was 57% up on 2017.
Fairfax Financial Holdings Limited, headquartered in Toronto (Canada), has been engaged in insurance, reinsurance and investment management since 1985.
