Business news from Ukraine

Business news from Ukraine

UKRGAZVYDOBUVANNIA SEES 8.5% RISE IN CRUDE OIL REFINING IN JAN 2017

20 February , 2017  

KYIV. Feb 20 (Interfax-Ukraine) – Public joint-stock company Ukrgazvydobuvannia in January 2017 saw an 8.5% rise in crude oil refining (by 3,648 tonnes) year-over-year, to 46,528 tonnes, the company has told Interfax-Ukraine.

Light fuel production last month totaled 35,777 tonnes, propane butane output – 15,032 tonnes and other fuel – 4,332 tonnes.

Oil and gas condensate production last month fell by 5.5% or 2,400 tonnes year-over-year, to 40,900 tonnes.

Gas production grew by 0.3% or 3.6 million cubic meters, to 1.262 billion cubic meters (bcm).

Drilling in January 2017 totaled 17,330 meters (23.4% up year-over-year).

As reported, in 2016 Ukrgazvydobuvannia increased crude oil refining by 11.8%, to 515,400 tonnes.

Ukrgazvydobuvannia Commercial Director anticipates that refining in 2017 would grow by 3-7%, to 530,000-550,000 tonnes.

Ukrgazvydobuvannia, which is wholly owned by Naftogaz Ukrainy, is Ukraine’s biggest gas producer, accounting for about 75% of natural gas production.