Business news from Ukraine

ERU GROUP GETS LICENSE TO TRADE ELECTRICITY IN CZECH REPUBLIC

ERU Europe (the European subsidiary of Energy Resources of Ukraine Group, ERU) has received a license to supply and trade electricity in the Czech market.
“ERU Group is confidently expanding its presence in the European energy market,” the report on the group’s Facebook page says.
As reported, in September 2020, the group announced that ERU Europe had received a license to trade electricity on the Austrian market.
Energy Resources of Ukraine is a group of companies with foreign investments specializing in the implementation of projects in the Ukrainian energy sector. It is one of the largest private importers of natural gas and electricity to the country.
ERU Group belongs to Yaroslav Mudry and Dale Perry.

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ENWELL ENERGY EXTENDS LICENSE FOR SVYRYDIVSKE FIELD

The British oil and gas company Enwell Energy plc (formerly Regal Petroleum) has extended the special permit for Svyrydivske gas condensate field in Poltava region.
According to the company’s statement on the London Stock Exchange, the application for a license renewal for a period of 20 years was granted on December 24, 2020.
The expected economic development period of Svyrydivske field, based on the assessment carried out by DeGolyer and MacNaughton as of December 2017, is 2042.
As reported, at the end of November 2020, Enwell Energy extended the special permit for Mekhedivsko-Golotovschynske gas condensate field (Poltava region).
The license for Svyrydivske field for a period of 20 years since July 2004 has been owned by the representative office of Regal Petroleum Corporation Limited.
The majority shareholder of Enwell Energy, which owns 82.65%, is Pelidona Services Limited (Cyprus) of Vadim Novinsky’s Smart-Holding Group.

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UKRAINIAN LAW SHOULD ALLOW PRODUCERS TO BUY LICENSE TO PRODUCE COVID-19 VACCINE – OPINION

Ukrainian legislation should enable pharmaceutical manufacturers to buy a license for the production of a COVID-19 vaccine, which can be developed by foreign companies, Head of the supervisory board of JSC Farmak (Kyiv) Filya Zhebrovska has said.
“Ukrainian legislation should provide an opportunity so that we can buy or use a license, possibly pay royalties, so that we have the opportunity to produce this vaccine,” the company’s press service reported, quoting her as saying.
Zhebrovska said that the possibility of buying a license to produce a COVID-19 vaccine at Ukrainian production facilities will reduce the price of this vaccine by 15-20% compared with the purchase of the finished product.
As reported, Farmak does not rule out the possibility of joining a consortium, which the European Investment Bank (EIB), together with WHO, created to develop the COVID-19 vaccine. The EIB allocated EUR 7.6 billion to this consortium.
In the middle of May, Farmak, as part of international research, began the third phase of clinical trials of the Amizon drug (Enisamium) in fighting COVID-19 in Ukraine.
Farmak is the leader in the pharmaceutical market with a share of 5.9% in monetary terms. The company annually reinvests of approximately 95% of the profits in its development.
Farmak is a member of the Manufacturers of Medications of Ukraine association.
According to the public register, the ultimate beneficial owner of PJSC Farmak is Zhebrovska, who holds 80% of shares in the company.

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ERNEST AIRLINES SUSPECTS SERVICING FLIGHTS FROM JAN 13 OVER PROBLEMS WITH LICENSE

Ernest Airlines suspends has blocked sales of transport contracts for all flights departing from January 13, 2020 over the suspension of the airline’s operating license under a decision of the National Civil Aviation Authority of Italy (ENAC).
According to a posting on the website of the airline, the license can be restored following the demonstration by Ernest S.p.A. to be in possession of the requirements prescribed by the current legislation on the matter and to obtain the revocation of the provision issued by ENAC.
The flights will be restored on the site as soon as the revocation of this provision is published.
Earlier Ernest Airlines suspended flights on the Kyiv-Genoa, Kharkiv-Rome and Kharkiv-Milan routes for the 2019/2020 winter navigation season.
Ernest Airlines plans to invest EUR 100 million in Ukraine in two years and to deploy two aircraft in Kyiv in 2020.

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UKRAINIAN PRESIDENT: WE COULD PRESENT GAMBLING LICENSE WITH PROSPECT OF BUILDING NEW HOTEL

Ukrainian President Volodymyr Zelensky has not ruled out that gambling licenses could be issued if there is a prospect for building a new hotel or the licenses could be issued at a lower price if a hotel expands the number of rooms. “We have five-star hotels on the market, but they are very small. So far there is no way to make a casino there. We need a test… We want hotels to be built. Perhaps if, for example, it is a boutique hotel, then maybe we will give them licenses, which should cost a little more,” Zelensky said during a press marathon on Thursday.
“If this is a very big brand hotel, we can give a license, while they build a hotel for us,” he added.
The president also said that the proceeds from the sale of licenses should go to sports, medicine or education.
As reported, the Cabinet of Ministers has prepared a bill on the legalization of gambling business, which regulates lotteries, bookmakers, poker, casinos and slot machines. At the same time, the government plans to create a special body – a commission for the development and regulation of gambling, which should be coordinated by the government. At the same time, an online gambling equipment supervision system is provided on the basis of the State Tax Service. At the same time, the bill provides for the identification of players by passport data and identification code.

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780 FILLING STATIONS CONTINUE OPERATING IN UKRAINE WITHOUT LICENSE

Some 780 filling stations continue operating without a fuel sales license after the launch of the fuel administration reform from July 1, the Ukrainian Oil & Gas Association has said.
The data was obtained by the association during the reconciliation of information on fuel retail locations on perevirAZS.info with information from the public register of licensees and locations for which licenses were obtained.
“Some 780 of such facilities are not in the register of licensees, respectively, they continue working without a license. In this regard, the Oil & Gas Association sent an official appeal to the State Fiscal Service with a request to inspect these places for availability of licenses and registrations of them as excise warehouses in the electronic fuel sales administration system and other violations,” the association said in a statement.
As reported, the reform of the fuel turnover administration, which began on July 1, 2019, provides for licensing of the production, storage and trade of fuel, modernization of the electronic fuel sales administration system at each excise warehouse, and the launch of a new system for monitoring the actual turnover and remaining fuel, and toughened liability for illegal fuel operations.
In the middle of August, the State Fiscal Service reported on the issuance of more than 9,500 licenses for the right to manufacture, store fuel and trade with it, of which 780 licenses were issued for storage.

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