Oil and Gas Bulletin

We are bringing to your attention the latest news of oil and gas market. The most resonant ones are the change of shareholders on Neftegasdobycha, the announcement of the management NJSC Naftogaz of Ukraine of preparation for privatization of Ukrgazdobycha as well as the news about the investigation of the General Prosecutor’s office of the...

  In January Ukrainian gas production increased by 35 MMCM (2%) to 1. 73 BCM and oil and condensate decreased by 30 th. tons (13%) down to 190 th. tons. Meanwhile production companies have been showing different trends in production of hydrocarbons. Private companies have increased volumes thereof by 24% while state-owned companies continued...

  Last week was for rich for events in oil and gas industry, here are some of them. The State Geological and Subsoil Service of Ukraine announced the auction of 7 oil and gas licenses to be held on March 22nd. Another important news was the start of application to Ukrtransgaz period for 2016 for gas imports from EU. Apart from that, the...

  The main news of the last week was the sharpening of the combat between Ukrnafta and State Geological and Subsoil Service of Ukraine. As an answer to the seizure of licenses, gas distribution company controlled by Privat group, private shareholder of Ukrnafta, stopped gas supply in Dnepropetrovsk region. The fight between state authorities...

  We are bringing to your attention the latest news of oil and gas sector of Ukraine. The last week the deal on buying 70% of KUB-Gas LLC by BurismaHoldings was officially announced. This is the largest M&A deal in oil and gas sector for last several years. Another important news was the announcement by the CEO of Ukrgasvydobuvannya the...

  The last week was heavy for oil and gas industry. The Government strengthened the pressure on the state company Ukrnafta aiming to receive tax payments. State geological and subsoil service suspended 4 licenses of the company. The statistical data published recently speaks of the shrink of gas consumption in Ukraine. Also the sale of the...

  We are bringing to your attention the latest news of oil and gas industry. In January the price of gas imported from Europe declined significantly to $190 per MCM. The price proposed by Gazprom for the 1Q 2016 is 11% higher - $212 per MCM. NJSC Naftogaz of Ukraine also announced the decrease of price for industrial consumers. Apart from the...

  The main outcome of the past year is a sharp decline in the performance of the largest gas producing company Ukrgasvydobuvannya, which produced 600 MMCM less. Further details thereof will be discussed below. On the other hand, private companies as a whole increased production. Here it must be noted that two companies Naftogazvydobuvannya (a...

  We are bringing to your attention the first issue of the digest in this year. On the last day of 2015 the President Petro Poroshenko signed the State Budget for 2016, which includes the decrease of royalty rate for gas production. Starting from the 1st of January the royalty for gas production will be reduced from 55-28% to 29-14% depending...

  The last year will be remembered in oil and gas industry as an irretrievable loss of time, efforts and investments. All the reforms in the industry boil down to the Law on gas market that will not start working soon. All the hopes of upstream sector relate to decrease of royalty. In the last days of this year Verkhovna Rada is going to...

  In today’s issue of digest you will find news regarding renewal of 10 out of 40 licenses that were annulled by SGS earlier. The future of the rest remains unclear. Among other news let us note the process of selection of the candidates for gas supply from Europe with the loan from EBRD and also the process of drafting and adoption of laws...

  The important event of the last week is publication of EITI report in the website of the Ministry of Energy and Coal Mining. The report composes of the information submitted by the upstream companies and is the most detailed description of the industry. Also the interview of the Head of NJSC Naftogaz of Ukraine was published in Zerkalo...

  The main news in oil and gas industry was brought by the State Geological Service revoking more than 40 licenses for oil and gas fields exploration across Ukraine. This is the most upscale review of licenses for the last 10 years. 5 companies suffered as a result of officials’ actions. Another important news is the refusal of Ukraine to buy...

  The last week the results of operations of production companies in October were published. Despite all expectations, gas production in Ukraine increased by some significant 1. 5%. The production growth was generated by 2 private companies solely Neftegazdobycha and Burisma Holdings, while the majority of other companies decrease their...

  Despite deeply unfavorable conditions for production companies as of last year and a half, the volume of Ukrainian production is rising. Last month, as well as in September, gas production in Ukraine rose sharply by 1. 5% in comparison to October of last year. Such abrupt success occurred due to the high rate of production shown by two...

  The last week turned out to be extremely saturated with oil and gas news. All week the MPs were unsuccessfully trying adopt in the second reading the bill on decreasing gas royalty or at least to pretended so. The sage about royalty is not finished yet and we are waiting for it to be continued next week. Also there was held an auction of...

  At once several important events happened in oil and gas industry last week. However, one of the most anticipated - consideration of the law on royalty reduction - did not become the truth. Parliamentary Committee supported the adoption of the bill on royalty, and the matter was submitted to the Verkhovna Rada on Thursday, November 5. But...

  We are bringing to your attention the latest news of oil and gas market of Ukraine. The main news is the «price reform» of Naftogaz of Ukraine, the monopoly decreased gas price sharply. The other news is the agreement of EBRD loan facility in amount of $300 mm for purchasing import gas for Naftogaz of Ukraine. Among other news, the...

  In today’s issue of the digest the main news is dedicated to NJSC Naftogaz of Ukraine. The Government decided to start reforming the state monopoly, which, according to the Prime-Minister Yatsenyuk and company’s management, will allow for getting company to break even point. However, for now all proposed reforms are nothing more than a...

  Performance results of the industry got unexpected in September, gas production in Ukraine suddenly grew by 1%. This has come about with a help of two private producing companies -Neftegazdobycha and Burisma Holdings - that greatly increased gas production by 87% and 45%, respectively. For the rest, the situation in the industry remains...

  The main news of this week was signing of agreement for gas supply in winter between Naftogaz of Ukraine and Gazprom. Thus, Ukraine will be provided with gas in the next six months. Already in the first days after the signing, Russian gas supplies to Ukraine exceeded 100 MMCM of gas per day. The Cabinet of Ministers allocated 500 million...

  The main event in oil and gas industry last week was voting in Verkhovna Rada for the draft law on decreasing royalty payments for gas producers. For now the draft law was took as a basis and there is a hope that it will be improved and supported by the deputies in the nearest future. This is a good signal for market players, after a year...

  We are bringing to your attention the latest news of oil and gas market of Ukraine. Starting form October the Law On the natural gas market comes into force, it is supposed to level the playfield for all participants. Apart from this law, a number of legislative and regulatory acts were adopted in the industry. Adoption of the Law On the...

  We would like to bring to your attention the latest news of oil and gas market of Ukraine. Production data showed a sharp deterioration in the industry. The worst situation is observed in public companies Ukrgazdobycha and Ukrnafta. The operation of Ukrgazdobycha particularly depresses - in August, the company showed gas production fall by...

  The main news of this issue is devoted to the situation in the industry on the eve of the entry into force on October 1st the law On natural gas market. Several important bills and resolutions to determine operation of producing companies are to be taken in a matter of days. The issue involves formation of gas reserve stock, revision of...

  In August , oi l and gas production continued decreasing, gas production fell by 1%, oil and condensate production – by 9%. Public companies Ukrgazdobycha and Ukrnafta sharply reduced production - gas production fell by 6. 5%. At the same time, private companies together showed a significant increase - 27%, the largest since the beginning of...

  The last week was rich in oil and gas industry news. Starting form the 1st of October the law On natural gas market comes into force, but it turned out that the market and legal field are not completely ready to operate under new conditions. Right now the Ministry of energy, NJSC Naftogaz of Ukraine and some deputies together with other...

  We are bringing to your attention the latest news of oil and gas industry, the main of which is the Drat Law On increase of reserve stocks of gas. The new initiative raised concerns of market players and is deemed as just one more attempt to expropriate gas. Among other news is the dire state of preparations for the heating season. As of...

  The news of the last week evidences the buoyancy on oil and gas market. The vacation season is almost over and the business activity restores. This week was one of the most activities saturated since the beginning of the year. For example, NBU has slightly simplified the procedure of currency transfer abroad which should ease the operations...

  July turned out to be the worst month since the beginning of the year for production companies. Last month gas production in Ukraine fell by almost 5% down to 1 629 MMCM. This is 80 MMCM less than in July last year. The decline in oil and condensate production is even more palpable. In July only 210 thousand tons was produced that is 9%...

  The last week there appeared a number of news from the largest stateowned gas producing company Ukrgasvydobuvannya. For example, it has launched gas treatment facility in Kharkiv region. At the same time, the information on catastrophic financial situation in Ukrgasvydobuvannya came out. The tax debt of the company exceeds 2 billion UAH and...

  In today’s issue of oil and gas news we paid attention to the relations between NJSC Naftogaz of Ukraine and Ukrnafta as well as the state company Ukrtransnafta and Ukrtatnafta (Kremenchuk oil refinery). In both cases there is a conflict of state interest, namely Yatsenyuk’s government, and Privat group. Despite of the change of leadership...

  The vacation season resulted in a down time in business news including oil and gas industry. This week the main event in Ukrainian energy was the death of Polish businessman Jan Kulczyk who was interested in Ukraine and was actively looking at investing in country’s economy. Among the other news are the plans of Lviv company Goryzonty...

  The last week there happened two important events in the oil and gas industry at once. At first, on Wednesday 22nd of July there was held a long expected Ukrnafta shareholders’ meeting and on Friday 24th of July State Geological service held an auction for 5 oil and gas fields. The auction turned out to be successful; the initial price...

  9. 8 BCM of gas was produced in Ukraine in the first half of 2015, which is 200 MMCM or 2% less compared to last year. Oil and condensate production amounted to 1. 26 million tons, the drop comprised 130 thousand tons or 9%. Such results seem particularly disheartening compared to last year’s situation. Let us recall, gas production increased...

  In today’s issue of the digest the primary news are dedicated to the new Draft Law №2352а that suggests decreasing the royalty rate for private gas producers. The Draft Law developed by the Ministry of Finance and approved with the Cabinet of Ministers was submitted to Verkhovna Rada and was supposed to be reviewed on Thursday. However, the...

  The most discussed news of the industry last week became the choice of the new head of Ukrnafta. The confrontation of the Cabinet of Ministers and Privat Group that has been lasting for more than a year is near completion. The government committee engaged in the selection of candidates-top managers for large public companies approved for...

  The most discussed news of the industry last week became the choice of the new head of Ukrnafta. The confrontation of the Cabinet of Ministers and Privat Group that has been lasting for more than a year is near completion. The government committee engaged in the selection of candidates-top managers for large public companies approved for...

  We are bringing to your attention the latest issue of the oil and gas industry news digest. The main event of the last week was the failure to review Bill No2120 in Verkhovna Rada, it suggested decreasing the rental fee for gas production for private oil and gas companies from today’s 55% to 35%. Unfortunately, the deputies didn’t manage...

  In today’s issue of the digest the main news is dedicated to the appointment of the new manager of the state gas producing company Ukrgazdobycha Oleh Prohkorenko, who used to work for international company McKinsey&Company. Another interesting news of the industry concerns the new production company Uzgaz that obtained a license in...

  CONTENTS   OIL AND GAS OVERVIEW FOR MAY 2015Public companiesPrivate companiesPSA

  CONTENTS   OIL AND GAS OVERVIEW FOR MAY 2015 Public companiesPrivate companiesPSA

  In today’s issue of the digest the main news are dedicated to gas producing company Ukrgazdobycha. The Prime-Minister Arseniy Yatsenyuk demands the change of the management due to the debt of private companies, namely some owned by the parliamentarian Igor Eremeev, for the supplied fuel in amount of 373 mm UAH. However, according to the...

  In today’s issue of the digest the main news are dedicated to gas producing company Ukrgazdobycha. The Prime-Minister Arseniy Yatsenyuk demands the change of the management due to the debt of private companies, namely some owned by the parliamentarian Igor Eremeev, for the supplied fuel in amount of 373 mm UAH. However, according to the...

  The breaking news of today’s issue of the digest is devoted to the problems of the public company Ukrgazdobycha, which is in a catastrophic financial situation after the sharp increase in rental payments from 20% to 70%. One should note among other important news the issuance of a special permit to develop West Olgovsky oil and gas block to...

  In today’s issue of the digest the mian news are dedicated to the largest producing company Neftegazdobycha. The General Prosecutor’s office has arrested the accounts of the comany for the third time. The other news is information that the General Director of Neftegazdobycha Oleg Seminskiy who was gone missing in 2012 was found alive....

  The main news in the last issue of oil and gas digest was the meeting of Supervisory board of Ukrnafta. Despite the sharp combat of the private shareholders and the state representative NJSC Naftogaz of Ukraine, some agreements were reached. In particular, the date of the shareholder’s’ meeting was set – 22 of July, as well as the main...

  Let us bring to your attention the next issue of oil and gas news digest. The breaking news of the last week became the announcement of the public company Ukrgazdobycha on the revision of joint activity agreements with the private company Karpatygaz. 7 projects are expected to be withdrawn from the joint activity and Ukrgazdobycha will work...

  Breaking news in today’s issue of the digest is devoted to the events involving Naftogaz of Ukraine. The largest public company of the country is still suffering huge losses - Naftogaz suffered around 22 billion UAH of losses in the first quarter. Despite some improvement - losses decreased by 5 billion UAH compared to the first quarter of...

  The main news in this issue is dedicated to the state company Ukrgazdobycha that announced its results for the last year as well as the plans for 2015. Another top news is the conflict around the largest private company Neftegazdobycha that has been on for the second week already and seems to be far from resolving.   CONTENTS OIL AND GAS...

  Ukraine produced 633 MMCM of gas in April, which corresponds to the level of last year. Public companies Ukrgazdobycha and Ukrnafta,as well as almost all independent producers showed a decline. The situation in the industry is being saved by a significant increase in the production of only one company Neftegazdobycha, whereby the total...

  The main news of the last week is blocking of the largest upstream company Neftegazdobycha, a subsidiary of DTEK owned by Rinat Akhmetov, by the state authorities. Neftegazdobycha became an unwilling hostage of the sharp conflict between the state and oligarch that led to the meetings of miners near to Verkhovna Rada and the Presedential...

  In today’s issue of the digest we are bringing to your attention the latest news of oil and gas market. The decision of Shell to start importing gas to Ukrainelooksespecially interesting,it may facilitate the liberalization and strengthening of competition. The other news is discovering a new field in Lviv region and also the Draft Law...

  In today’s issue you will find the news on a sharp change of the gas price. The price for population was increased while for industrial consumers it was decrease and for the first time it became equal. Also there was a significant drop of price for gas imported from Russia. Gazprom is ready to sell it to Ukraine with $100 discount for $248...

  The main news in the latest issue of the digest is dedicated to the ongoing conflict between Privat group and the state authorities over the control over oil and gas companies. After resignation of the Governor of Dnepropetrovsk region Igor Kolomoyskiy the issue of control over Ukrtransnafta and Ukrnafta remains unresolved. One more...

  The main news in our today’s digest is about adopting the Law On the natural gas market by Verkhovna Rada. The law provides for implementing the basics of Third Energy Package, which will allow for creating the gas market of Ukraine on the model of the European one. This event can be called epochal, however, for a normal functioning of the...

  The first quarter brought the real trials for oil and gas companies. Hopes of private producers on tax reduction since 2015 vanished, it became clear that there will be no investment, and the operations will have to be curtailed. The largest gas producing company Ukrgazdobycha decreased production significantly. In addition to that 70%...

  In todays issue of digest the main news is dedicated to the recent developments with the state companies Ukrtransnafta and Ukrnafta that are controlled by Privat group. Lately, the fight over the control over these companies escalated even more, the state, in the face of some political powers, is trying to change the managers of the company...

  In todays issue of digest the main news is dedicated to the recent developments with the state companies Ukrtransnafta and Ukrnafta that are controlled by Privat group. Lately, the fight over the control over these companies escalated even more, the state, in the face of some political powers, is trying to change the managers of the company...

  In today’s issue of digest we are bringing to your attention the news of oil and gas industry. The main event of the last week was that Shell curtails joint activity project with Ukrgazdobycha. It was one of the first and most perspective projects involving large international company that ended up with nothing. Such decision of Shell was...

  In today’s issue of digest we are bringing to your attention the news of oil and gas industry. The main event of the last week was that Shell curtails joint activity project with Ukrgazdobycha. It was one of the first and most perspective projects involving large international company that ended up with nothing. Such decision of Shell was...

  We are bringing to your attention the latest news of oil and gas market. Verkhovna Rada has adopted a long expected law On gas market that is aimed to open a new era in the Ukrainian gas market. One of the noticeable events of the last week was Ukrainian Energy Forum that has gathered dozens of energy companies. It will not be an...

  We are bringing to your attention the latest news of oil and gas market. Verkhovna Rada has adopted a long expected law On gas market that is aimed to open a new era in the Ukrainian gas market. One of the noticeable events of the last week was Ukrainian Energy Forum that has gathered dozens of energy companies. It will not be an...

  The main news of today’s digest is the actions of the state authorities on the energy market. Unfortunately, all the changes proposed by the government and other state bodies come down to increasing taxes for producing companies together with gas price. Devaluation of hryvna and sharp increase of price of gasoline, diesel fuel and gas...

  The main news of today’s digest is the actions of the state authorities on the energy market. Unfortunately, all the changes proposed by the government and other state bodies come down to increasing taxes for producing companies together with gas price. Devaluation of hryvna and sharp increase of price of gasoline, diesel fuel and gas...

    We are bringing to your attention one more issue of the digest the main topic in which is the problems with reforming taxation of oil and gas industry. The Government and Verkhovna Rada initiated the changes to the fees for subsoil use for gas production. The major changes concern the state companies Ukrgazdobycha and Ukrnafta for which...

    We are bringing to your attention yet another issue of digest with the main news of this week. After a short standstill the problems of private producers are again one of the most discussed topics. Today, the deputies of various factions are expressing more and more interest and are trying to play a bigger role in defending the rights of...

  We are bringing to your attention one more issue of the digest the main topic in which is the problems with reforming taxation of oil and gas industry. The Government and Verkhovna Rada initiated the changes to the fees for subsoil use for gas production. The major changes concern the state companies Ukrgazdobycha and Ukrnafta for which the...

  Today’s issue is dedicated to news surrounding Ukrnafta. The government makes attempts to force the company to operate for the sake of the state, which owns 51% of the company. But still the activities of Ukrnafta is under the control of private shareholders, namely, Privat Group. The struggle for the company is likely to be protracted....

  Today’s issue is dedicated to news surrounding Ukrnafta. The government makes attempts to force the company to operate for the sake of the state, which owns 51% of the company. But still the activities of Ukrnafta is under the control of private shareholders, namely, Privat Group. The struggle for the company is likely to be protracted....

  This issue of digest contains the results of operation of oil and gas industry for the last year that can be called successful despite all the difficulties. The achievements of private producers stand out especially, showing not only high results but also a huge potential of oil and gas production in Ukraine. But it’s been only half a year...

  This issue of digest contains the results of operation of oil and gas industry for the last year that can be called successful despite all the difficulties. The achievements of private producers stand out especially, showing not only high results but also a huge potential of oil and gas production in Ukraine. But it’s been only half a year...

  The main news of the last week in oil and gas sector is connected with the ongoing attempts of the government to return control over Ukrnafta. The Prime-Minister Arseniy Yatsenyuk is initiating shareholders’ meeting and President Poroshenko is willing to help the government. On the other hand, the private investors of the company are...

  The main news of the last week in oil and gas sector is connected with the ongoing attempts of the government to return control over Ukrnafta. The Prime-Minister Arseniy Yatsenyuk is initiating shareholders’ meeting and President Poroshenko is willing to help the government. On the other hand, the private investors of the company are...

  The key information in this issue is dedicated to the consequences of adopting State Budget 2015 for oil and gas industry and the perspectives of the state to return the control over the largest oil producing company Ukranfta. Also, there is news on the market situation and operations of some companies. We would like to bring your attention...

  The key information in this issue is dedicated to the consequences of adopting State Budget 2015 for oil and gas industry and the perspectives of the state to return the control over the largest oil producing company Ukranfta. Also, there is news on the market situation and operations of some companies. We would like to bring your...

  Precisely one year ago the first issue of oil and gas weekly digest dedicated to oil and gas industry saw the world. For this time we managed to accomplish a lot of things, but the most important we have gathered the team of likeminded people and created the unique product in-demand. The last year showed not only our achievements, but also...

  Precisely one year ago the first issue of oil and gas weekly digest dedicated to oil and gas industry saw the world. For this time we managed to accomplish a lot of things, but the most important we have gathered the team of likeminded people and created the unique product in-demand. The last year showed not only our achievements, but also...

  Today’s jubilee 50th issue of the digest is also the last one in the outgoing year. During this year our editorial stuff has grown from the group of enthusiasts into a professional and well-knitted collective, the amount of materials increased significantly, the format and a lot of other things have changed. We hope that our work was not...

  Today’s issue of digest is dedicated to the continuous confrontation of private producers and the government regarding taxation issue. Despite of its own promises and common sense, the Cabinet of Ministers consistently does not want to decrease taxes for upstream. The state companies also have bad news, last week the Head of a large gas...

  We are bringing to your attention the new issue of digest in which you can get acquainted with the new appointments in the Ministry of Energy and Coal Industry, the Ministry of Ecology and Natural Resources as well as FEC Committee in Verkhovna Rada. The newly appointed ministers and parliamentarians will be defining the development of the...

  The main topic of new issue of digest is Government’s resolution №596 that obliges almost a hundred of largest industrial companies to buy gas from NJSC Naftogaz of Ukraine exclusively. These initiatives has drawn criticism not only from these companies and upstream but also international institutions such as American Chamber of Commerce...

  The key news in the new issue of digest is Government’s resolution №596 that obliges large industrial companies to cancel acting current agreements for gas supplies and start purchasing gas from NJSC Naftogaz of Ukraine exclusively. This one more hit of the Cabinet of Ministers directed on the upstream draw a massive response in business...

  In the new issue of digest we are bringing to your attention several news on the operations of oil and gas upstream companies at once. The most attention is attracted to the situation with BurismaHoldings. For a number of years Burisma was one of the most closed companies in Ukraine and recently the news on the company and its owner Nikolay...

  In today’s issue of the digest you will find the summary of the news for October. The main event was signing of «gas agreement» between Ukraine and Russia with the EU as an intermediary. Although they did not manage to resolve all the issues, the tension in gas problem is decreased. We have all premises for Ukraine to go through the heating...

We are bringing to your attention the 42d issue of digest dedicated to the up-to-date energy issues. The main market news are connected with the problems of gas supply to Ukrainian consumers. Ukraine and Russia together with the EU an the intermediary did not manage to reach the compromise in gas negotiations. That is why gas supply to...

  We would like to underline some up-to-date news of oil and gas market in this issue of the digest. First of all, it is gas negotiations in Milan that give an understanding of the fact that Ukraine will have a hard time this winter. Apart from this, the important event is a change of the Supervisory Board of Ukrgazdobycha as well as auction...

  Today’s jubilee 50th issue of the digest is also the last one in the outgoing year. During this year our editorial stuff has grown from the group of enthusiasts into a professional and well-knitted collective, the amount of materials increased significantly, the format and a lot of other things have changed. We hope that our work was not...

    Last week reverse gas supply from Europe under the agreement between NJSC Naftogaz of Ukraine and Norwegian giant Statoil was commenced. Statoil is a competitor to Gazprom in European gas market and will not miss the opportunity to put competitive pressure on Russian in the traditional markets. However, it should be noted that the help...

We are bringing to your attention jubilee 40th issue of digest, which contains information about the main events of the beginning of October. The most up-to-date issues are still the preparations for the heating season and the future of oil and gas industry regarding the intentions of the Government to prolong increased taxes adopted in the...

  Now we have a responsible and defining period in oil and gas industry in Ukraine. Last week the Deputy Minister of Finance Denys Fudashkin and the Head of Tax Service Igor Belous announced main planned amendments to the State Budget for 2015. Unfortunatelly, they are planning to keep the same rate of the fee for subsoil use for oil and gas...

We are bringing to your attention 39th issue of oil and gas bulletin that includes not only traditional news but also the results of conference dedicated to the issues of hydraulic fracturing of formation. Consulting company Newfolk, which includes our editorial office was the organizer of this conference this way the company has broaden the...

  The main event of the last week were threeparties negotiations in Berlin between Ukraine, Russia and EU. There were a lot of expectations regarding this meeting as Gazprom does not supply gas to Ukraine for 3. 5 months already and the issue of ongoing gas supply to Europe through Ukraine. We only have two weeks before heating season starts...

  Last week Ukrgazdobicha successfully completed testing of the well in Razumovskoe field in Kharkiv region. It opened two production reservoirs; the well flow rate is 35 tons of oil per day. Notwithstanding quite modest reserves opened by the well that amount to only 600 th. tons, the positive trend of increase of Ukrgazdobisha reserves gives...

  The last week will be memorized for a number of important events. Perhaps, the most important news is a sharp decrease of oil price in world markets. Brent and WTI oil reached its minimum for a year and half. The other news is introduction of new sanctions by the US against Russia that includes almost all leading oil and gas companies both...

  The reverse gas supply from Slovakia was launched the last week. According to the managers of Naftogaz of Ukraine, the capacity of pipeline supply is beyond any expectations. The planned volume of supply in amount of 20 MMCM per day may be increased up to 35 MMCM. The first days of operations showed the opportunity to increase injection of...

  An important event in oil and gas industry happened last week when President Petro Poroshenko announced a declared reform of National Energy Regulation Commission, it is reported in resolutions No 692-695 dated August 7. Formally, NERC was liquidated, however, practically, it was just united with another similar organization National...

  The last week Verkhovna Rada adopted a remarkable resolution by passing the bill No4116a On amendments to some laws of Ukraine on reformation of GTS management. In short, the law suggests splitting state company Ukrtransgaz into two separate companies, one of which will manage gas pipelines and the other – underground gas storages. It is...

  Starting from August, oil and gas industry in Ukraine is operating under new rules; after increase of taxes companies are trying to survive under new conditions. First of all, upstream companies started changingand optimizingits production plans. As if was foreseen, tax increase absorbed all income of producers which was a source of their...

    The last week Verkhovna Rada voted for amendments to the Tax Code thus increasing the fee for subsoil use for upstream companies. The fee for subsoil use for 1 th. cub. m of gas increased from 28% to 55% of maximum price set by NERC for industrial consumers for gas produced from above 5 km and from 15% to28% for gas produced from deeper...

  The last week government restored attack of oil and gas industry. Right after the Draft Law on special period in fuel and energy sector which did not go any further than first reading the government decided to review the taxes for upstream: by Draft Law 4309а. T he c hanges to Tax Code were drafted by the Ministry of Finance, this way they...

Today we are bringing to your notice the 38th issue of the weekly digest Oil and gas bulletin. We managed to create the full issue that does not have any analogues in Ukraine. Herewith, our shortcomings became apparent, so we know have the room for improvement and development. One of the promising directions in the nearest future is close...

    Much to our astonishment, in the first half of the year oil and gas industry in Ukraine demonstrated the stable operation despite the difficult political and economic situation. Preliminary data suggests that total gas production in Ukraine for 6 months of 2014 increased by 150 MMCM (1. 5%) up to 9. 8 BCM. However, the growth was generated...

  Adopting in the first reading Draft Law No 4117a on special period in fuel and energy industry cleared the way to chaos in oil and gas sphere. Government, the Ministry of Energy and NJSC Naftogaz of Ukraine started public attack of upstream companies operating in Ukraine under the cover of war with Gazprom. First of all, Naftogaz is laying...

    The last week brought the news from the government on reorganization of oil and gas industry. The Deputy Head of NJSC Naftogaz of Ukraine Yuriy Vitrenko reported the plans to conduct IPO of the state company. It is expected to sale 15% stake during the first stage, herewith the company was evaluated at $12 billion. Later, this...

  The last week there were several events in oil and gas industry that produced excitement of the market players. Adam Smith Ukrainian Energy Forum, one of the largest events in Ukraine, was held on Monday-Thursday. The forum was focused in oil and gas industry as 3 out of 4 days of the event were dedicated to it. Another important event the...

  The premier news of the 24th edition of the Bulletin is the beginning of a new «gas war» between Ukraine and Russian Federation. The attempts to establish negotiations ended in complete failure. Since June 16 Gazprom cut off gas supplies to Ukraine and the government is facing a difficult issue how to provide the consumers with the...

  In today’s issue of bulletin you will find some disturbing news coming from the East of Ukraine. The facilities of oil and gas companies are being attacked by armed groups of people that ruin and loot the property and set fires. State company Ugrgazdobicha suffered the most, its estimated loss is 86 mm UAH. One of the good news is the...

  In today’s issue of bulletin you will find news about the attempts to reform gas upstream sector. The government, the Ministry of Energy and NJSC Naftogaz of Ukraine are ready to take unpopular measures - increase gas price. Practically, this is the liberalization of oil and gas market. According to the Head of Naftogaz, it will facilitate...

  The latest issue of bulletin contains news dedicated mainly to the state companies. Complicated period of reformation of management of state bodies caused by the change of political government is in progress now. The conducted elections give hope for prompt stabilization of political situation and economy of Ukraine which is very important...

  The good news for the industry is enduring growth of production by independent companies. Even the companies that experienced some difficulties lately are now gradually resolving its issues. One morepleasant thing is the report of Karpatygaz on normalization of its operations. After almost a year of combat with state authorities, Karpatygaz...

  Last week a little-known Cypriot offshore company Burisma Holdings, which owns several Ukrainian producing assets, made a splash in the media all over the world. It came so far that even the White House issued a special statement, as the son of U. S. Vice President turned in the Board of Directors of Burisma Holdings. Later it turned out...

  Today’s issue of the digest is dedicated to the financial results of state companies last year and personnel appointments there. The layout of oil and gas industry keeps changing against the background of political developments in the country, meaning the changes in participants in PSAs that were signed by the government during the times of...

  The main developments of the industry are observed in state sector, where not only transformation, but also a repartition of spheres of interest is happening. The country is swept by the new wave of violence; it was especially hot in Donetsk region and Odessa, where, unfortunately, the blood was shed. The negotiations of NJSC Naftogaz of...

  Ukraine keeps implementing big infrastructure projects and it gives reasons for optimism. At the same time, state companies are still in fever. The results of operations of production companies in the 1Q were an unexpected pleasure. In the environment of total chaos and the change of government the industry performed excellent. However,...

  Oil and gas industry is coming to life, no matter that the part of the news is negative. The results of meeting in Geneva between the representatives of USA, EU, Russia and Ukraine give hope for soon regulation of political crisis and stabilization of economic situation in Ukraine. And we congratulate you on Easter, Christ has risen! The...

  Today's issue of oil and gas bulletin consists mainly of the review of news on state companies. Judging by the new personnel appointments, the fight for control over the state companies is in high gear. However, the managers have a hard nut to crack: there is a critical shortage of resources, the debt and loss are increasing, and moreover,...

  Today’s issue of Oil and gas bulletin is dedicated primarily to the state monopolies NJSC Naftogaz of Ukraine and Ukrgazdobicha. The disastrous financial position of these state companies requires a decisive and, unfortunately, painful reforms of oil and gas industry in the country. Starting from April, the price for Russian import gas...

  The main development of this week was the adoption of Law on Prevention of Financial Collapse, which will change the rules of the market significantly. It will be more difficult for producers to operate; however, the tax burden will not be critical. Also, this issue of digest is dedicated to the state company Chernomorneftegaz that is...

  The comeback of Yuliya Timoshenko coincided with the intensification of activities of the law enforcement bodies against energy officials. While Kyiv is in the race for portfolios, Ukraine has ultimately lost the control over one more state company Chernomorneftegaz. This Crimean company was captured by gunmen and the representatives of...

  The political tempests in Ukraine are becoming the determinative factor for the economy of the whole country, and oil and gas industry is not an exception.  The main attention is attracted to Crimea, where the pro-Russian organizations, supported by Russia, have seized the power and taken the key objects under the control. The largest...

  The events in Ukraine are forming the top news of mass media in the whole world now. The formation of a new government of Ukraine led to the wave of changes in the management of the state companies. It also affected the state companies that are subordinated by the Ministry of Energy and Coal Mining. The new assignments in them raise a...

  The assignment of the new government did not clarify the plans regarding oil and gas industry, while the situation in Crimea challenges the integrity of the country. Oil and gas men have to operate under such not simple conditions in Ukraine. During last week all the attention was attracted to forming of the new government, including the...

  After a lingering three-month political crisis came fast and not less dramatic denouement. In one day the representatives of Yanukovych's government were removed and the country entered a new period of its history.  Today’s Ministry of energy and coal mining headed by Eduard Stavitskiy will be changed the most radically because Stavitskiy...

  Major state company Ukrgazdobicha that has discovered new field and major private company Neftegazdobicha is raising funds for its projects. News from the government is optimistic as well: in coming weeks legislative draft “Code of laws on subsoil” will be introduced to Verkhovna Rada for voting. The main traits of the Code of laws are...

  It is understandable that officials are willing to show the scale of their global thinking, however, the actuality of such plans is rather doubtful. For example, the government confirmed its plans to increase the production of natural gas in Ukraine up to 45 BCM and decrease of its import up to 5 BCM by 2030. The Government is finishing...

  Due to the unstable political situation in Ukraine oil and gas market stopped. Azarov government resignation stirs speculation of a possible personnel change in the Ministry of Energy and Coal Industry, as well as in state companies. The first personnel changes have happened. In the Ministry of Energy an active work is going on formation...

  It is gratifying to note the positive trend in energy resources production, particularly regard to private companies. The success of independent companies shows that oil and gas industry in Ukraine has good prospects and huge potential. According to the year results the effects of the mining companies has exceeded all expectations, the...

  The situation on oil and gas market is uncertain. The government's work is practically blocked. The signing of the PSA on the Scythian deep-water part of the Black Sea shelf with a consortium headed by ExxonMobil is postponed once again. Given the experience of Shell and the fact that Chevron did not meet a hospitable reception in the...

  The most of the independent production companies reported on increase of production in 2013. Thus, have shown the best results in their history. Not everything goes on well, two-thirds of companies have shown the growth of production, one-third – the reduction. Traditionally at the end of the year the National Commission on Energy...