Business news from Ukraine

UKRNAFTA CUTS PRODUCTION OF OIL IN JAN-SEPT

PJSC Ukrnafta in January-September 2021 reduced oil and condensate production by 1.1% (by 12,200 tonnes) compared to the same period in 2020, to 1.122 million tonnes, including in September production grew by 2.1% compared to September 2020, to 125,500 tonnes.
As the company told Interfax-Ukraine, gas production in the first nine months of 2021 fell by 3.4% (by 29 million cubic meters), to 832.8 million cubic meters, including in September it rose by 4.9%, to 94.6 million cubic meters.
Ukrnafta said that the average daily production has been growing since the beginning of the year, in particular, in September 2021 this figure for oil with condensate amounted to 4,180 tonnes, which is 4.8% more than in January 2021, for gas it was 3.15 million cubic meters, which is 7.3% more than in January 2021.
Ukrnafta is the largest oil company in the country. NJSC Naftogaz Ukrainy owns 50% + 1 share in Ukrnafta, a group of companies associated with the former shareholders of PrivatBank – about 42% of shares.
Ukrnafta has 85 licenses for the production of hydrocarbons, it has 1,809 oil and 153 gas wells on its balance sheet. The company owns 537 filling stations.

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UKRNAFTA POSTS NET PROFIT OF UAH 1.585 BLN IN H1

PJSC Ukrnafta in January-June 2021 saw a net profit of UAH 1.585 billion versus UAH 2.596 billion of a net loss for the same period in 2020.
According to the company’s statement in the information disclosure system of the National Securities and Stock Market Commission, its net income in the first half of the year increased 1.5 times (by UAH 5.069 billion), to UAH 15.042 billion, gross profit – 3.3 times (by UAH 4.608 billion 607.785 million), to UAH 6.571 billion.
Ukrnafta is the largest oil company in the country. NJSC Naftogaz Ukrainy owns 50% + 1 share in Ukrnafta, a group of companies associated with the former shareholders of PrivatBank – about 42% of shares. Ukrnafta has 25 drilling rigs, 1,891 oil and 162 gas well. The company owns 537 filling stations.

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NAFTOGAZ REDUCES CAPITAL EXPENDITURES BY 44.5% IN 2020

Naftogaz Group reduced capital expenditures (capex) by 44.5% (or by UAH 12.193 billion) in 2020 compared to 2019, to UAH 15.044 billion.
As indicated in the consolidated statements of the group published on Tuesday, capex of the exploration and production segment was UAH 11.023 billion (a fall of 26.2% to 2019), oil midstream and downstream – UAH 1.185 billion (a fall of 35.4%), Ukrnafta – UAH 1.113 billion (a fall of 23%), gas storage – UAH 0.143 billion (a rise of 3.3 times), commerce – UAH 0.133 billion (a rise of 11.1 times), other – UAH 1.448 billion (a fall of 83.8%).
As reported, the consolidated net loss of NJSC Naftogaz Ukrainy in 2020 amounted to UAH 19.002 billion compared to a net profit of UAH 63.294 billion in 2019. Excluding the results of the discontinued operations, including the Gas Transit Arbitration award of UAH 55.7 billion, the net profit was UAH 2.6 billion.
Naftogaz’s revenues in 2020 grew by 27.1% (by UAH 41.184 billion) compared to 2019, to UAH 193.017 billion, including income from sales being UAH 159.234 billion (a rise of 6.3%), compensation for performing public service obligations totaling UAH 32.205 billion (a rise of 100%), and interest and other income reaching UAH 1.578 billion (a fall of 23.1%).
The net loss of NJSC Naftogaz Ukrainy, as a separate legal entity, in 2020 amounted to UAH 18.002 billion versus UAH 50.658 billion of net profit for 2019. Net income last year decreased 32.1% compared to 2019, to UAH 121.059 billion.

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UKRNAFTA INCREASES NET LOSS 8.5 TIMES

PJSC Ukrnafta in January-September 2020 increased its net loss 8.5 times (by UAH 2.7 billion) compared to the same period in 2019 – up to UAH 3.9 billion.
According to the company’s information disclosure system of the National Securities and Stock Market Commission, its net income for nine months decreased by 24.6% (by UAH 5.2 billion) – to UAH 16.7 billion, gross profit – three times (by UAH 6.9 billion), up to UAH 3.5 billion

UKRNAFTA RAISES OIL PRODUCTION BY 8.5% IN MAY

PJSC Ukrnafta in May 2019 increased oil and condensate production by 8.5% compared to May 2018, to 130,700 tonnes, the press service of the company has said.
Natural gas production increased by 10.4%, to 98.4 million cubic meters. Compared with April 2019, oil and condensate production increased by 3.9%, that of gas by 4.6%.
The average daily production last month amounted to 4,200 tonnes per day and 3.2 million cubic meters per day respectively.
In 2018, Ukrnafta posted UAH 6.628 billion of net profit against UAH 101.771 million of profit for 2017.

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UKRNAFTA INCREASES PRODUCTION OF OIL BY 6%, GAS BY 13% IN MARCH

PJSC Ukrnafta in March 2019 increased oil and condensate production by 6.4% (7,700 tonnes) compared to March 2018, to 128,800 tonnes, the press service of the company has reported.
Natural gas production increased by 12.9% (11.4 million cubic meters), to 100.1 million cubic meters.
The average daily production, respectively, amounted to 4,200 tonnes of oil and 3.2 million cubic meters of gas.
As reported, according to the non-audited statements, in 2018 Ukrnafta received UAH 6.628 billion of net profit against UAH 101.771 million of profit for 2017.
Last year, the company increased its oil and gas condensate production by 5% compared with 2017, to 1.448 million tonnes. Gas production decreased by 2.3%, to 1.082 billion cubic meters, production of liquefied gas by 5.2%, to 110,000 tonnes.

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