Ukrenergo lost $1 billion last year, a sharp turnaround from nearly $70 million profit in 2019. The state company says its core activity – power transmission — is profitable. But losses come from subsidizing electricity to low income households and from national rates that do not cover ele... #Ukrenergo #UkrenergoLosses
The legal maneuver used to fire the CEO of Naftogaz raises doubts about Ukraine’s commitment to shield state companies from interference by politicians. That was the fear expressed yesterday by a host of Ukraine-watchers: the State Department spokesman i Washington, the G7 Ambassadors in Kyiv, the speaker of the Rada, and the American Chamber of Comme... #CEOofNaftogaz #Kobolev #Vitrenko
Concorde Capital’s Alexander Paraschiy wrote: “Vitrenko could be at least as efficient at the position of Naftogaz CEO as Kobolyev was, so there is no risk to Naftogaz operations with the top management replacement.” #Naftogaz #UkraineGasCompany
Critics target what they see as Ukraine’s faltering commitment to running state companies on corporate lines .“Dismissal of Naftogaz CEO raises doubts over Ukraine’s corporate governance reforms,” headlines an Atlantic Council blog by Aura Sabadus, a regional expert on the energy industry. #CEOofNaftogaz #NaftogazUkraine
Dragon Capital wrote in a note: “This breach of corporate-governance standards is likely to create a new point of tensions with international financial institutions and Ukraine’s other Western partners…Naftogaz is set to experience ... #CEOnaftogaz #NaftogazUkraine
Firing by the Cabinet “contradicts the requirements of Ukrainian law, ” reads a letter signed yesterday by members of the Naftogaz Supervisory Board. Noting that the Board has power over personnel decisions, the letter charges that the Cabinet’s move “seriously jeopardi... #CEOnaftogaz #NaftogazUkraine
“I do not think that the decision of the Cabinet of Ministers was legitimate,” Kobolyev told Interfax Ukraine. “I believe that this decision puts an end to corporate reform. It is important not only for Naftogaz or for me personally, it is important for the entire corporate governance system that has been buil... #Kobolev #NaftogazCEO
The Rada moved forward yesterday, appointing Herman Halushchenko as Energy Minister, succeeding Vitrenko, who had held the job in an acting capacity for four months. For the last year, Halushchenko served as vice president of Energoat... #energyukraine #GermanGalushchenko
With Russia’s Rosneft cutting diesel supplies to Ukraine, traders plan to increase diesel imports in May from Belarus, Lithuania, Hungary and Turkey, Ukraine’s Economy Ministry reports after meeting with “key stakeholders of the oil and gas market.” Yesterday, two companies won tenders to supply diesel to Ukrzaliznytsia. In addition to using diesel... #DieselforUkraine #dieselsupply #Rosneft
Naftogaz veered from a $93 million profit in 2019 to a $685 million loss in 2020 , the state oil and gas company reported. Naftogaz CEO Andriy Kobolev said the company turned a net profit during the first quarter of this year. “The company bottomed out and started generating profi... #Kobolev #Naftogaz #NaftogazUkraine #StateGasCompany
Naftogaz blamed the 2020 loss on several factors: writing off $830 million in long overdue debts with private gas distributors; the 2019 ‘unbundling’ that shifted revenues from Russian gas transit outside the Naftogaz group; and “record low prices” o... #Naftogaz #Naturalgas #NaturalgasUkraine
“Ukrainian gas storage injections hinge on price, not geopolitical risk – traders,” wrote the ICIS energy news site on the impact of the Russian military threat to eastern Ukraine. “European gas companies will consider storing gas in Ukraine depending on summer-winter spreads irrespe... #gasstorage #GasStorageinUkraine
Foreign companies own almost one third of the 15.4 billion cubic meters stored in Ukraine – up from zero two years ago, reported Sergii Pereloma, the Head of the UGS storage unit of Ukrtransgaz. The number of foreign customers has doubled and now includes companies based in UAE, Singapore, and Hong Kong. Key attractions for int... #gasstorage #GasStorageinUkraine #UGSstorage
On the 35th anniversary of the Chornobyl nuclear fire, President Zelenskiy yesterday inaugurated a €448 million nuclear waste repository. Located near the shuttered nuclear power plant, the unit is “the largest dry spent fuel storage facility in the world” according to the EBRD which coordinated donation from OECD countries. Designed to... #Chornobyl #ebrd #nuclearenergy
The repository comes after international donors spent €2 billion to build the new sarcophagus that entombs the highly contaminated remains of reactor 4. Rafael Mariano Grossi, Director General of the International Atomic Energy Agency, yesterday said on Twitter that his agency “will continue w... #AtomicEnergy #Chernobyl #ChernobylUkraine #newsarcophagus
In a new project, six companies are bidding in an international tending build a facility to store Ukraine’s vitrified radioactive waste that is currently stored in Russia. The tender should be held in May and the facility should be built by 2023, said Serhiy Kostyuk, head of the State Agency for Exclusion Zone Management, (Ukrinform). #radioactivewaste #wastefacility
As temperatures increase, solar and wind electricity production increase, but electricity consumption decreases, warned Ukrenergo. During the week of April 5-11, renewable production increased by 17% to 227 million kW, but electricity consumption decreased by 1%, to 2.86 billion kWh. Going into the high producti... #RenewableEnergy #Solarpower #Ukrenergo #windpower
DTEK is preparing to commission Ukraine’s first industrial energy storage system, reported Emanuele Volpe, innovation director of the power company. Located in Energodar, next to the Zaporizhia thermal power plant, the storage unit has a capacity of 1 MW and a capacity of 2.25 MW-y... #DTEK #electricitystorage
Diesel fuel supplies to Ukrzaliznytsia are resuming, the state railroad reported yesterday. Earlier this week, UZ warned that it would run out of diesel on Friday. After diesel prices increased this year, suppliers did not want to fulfill long term cont...
Yesterday, the US Embassy announced that the US Government is providing $155 million in “additional development funding” through USAID. In the heading “Counter Russian Aggression” the US will provide $63 million “to reduce Ukraine’s energy and economic dependence on Russia by advancing connections to Europe’s energy grid and strengthe... #USAID #USAIDUkraine #UShelpForUkraine
Squeezed by Russia and Belarus, Ukrzaliznytsia has only enough diesel to run trains through Friday , the State Railroad provider reported yesterday. About half of the railroad’s 20,000 km of track is electrified. UZ moves 82% of Ukraine’s freight, making it the fourth largest freight carrier in Eur... #DieselforUkraine #DieselImport #ShortageofDiesel
There is only enough diesel for ‘two or three days’ for two of UZ’s key regional railways – Kyiv-based Southwestern and Dnipro-based Pridneprovskaya – reported the Observer news site. To keep trains running, the Cabinet of Ministers could order the release of fuel from the State Reserve. T... #DieselImport #energyukraine
Russia’s Rosneft stopped supplying diesel through pipelines and rail cars to Ukraine on April 1 , Reuters reported in a story based on interviews with five traders. Rosneft does not plan to resume supplies next month and Belarus’ Mozyr refinery plans to cut supplies to Ukraine by 37% next month ... #DieselExport #energyukraine #Rosneft
In addition to using energy as a weapon, President Putin may be taking revenge on President Zelenskiy for nationalizing a diesel pipeline, two months ago, that belonged to Viktor Medvechuk, Russia’s main advocate in Ukraine. Once owned by Russia’s Transneft, the 1,433 km pipeline runs from Russia to Hungary through Ukraine. In 2016, the ... #DieselPipeline #Putin #VictorMedvechuk #Zelenskyy
“Given the unstable situation with the import of oil products from Belarus and Russia,” Ukraine’s Antimonopoly Committee will be on the alert for price gouging in prices of gasoline and diesel, Olga Pishchanska, Committee Chair, wrote in a column in Ekonomichna Pravda. Noting the Ukraine imports 8... #ImportofOil #OilandGas #OilfromBelarus #OilfromRussia
Energy prices increased by inflation, with natural gas rising by 64% and electricity up 37% . Food prices increased by 10%. Leaders were food items produced in Ukraine: bread +14%; fruit +14.5%; sunflower oil +48.5%; sugar +65%; and eggs +109%. #Energy #Energyprices #energyukraine
Qatar’s Nebras Power and Kyiv’s UDP Renewables have entered into a consortium. It’s designed to yield up to $250 million in joint investment in Ukrainian solar and wind plants by the end of next year, said Sergiy Yevtushenko, UDP’s co-founder and managing partner, on Facebook yesterday. Yevtushenko wrote, Nebras, a state-owned company, will buy control of six solar stations... #Qatar’sNebrasPower #UDP #UDPrenewables
Qatar Petroleum wants to supply LNG to Ukraine and help Ukraine develop its Black Sea gas, according to a Memorandum of Understanding that was signed yesterday in Doha by Saad bin Sherid Al-Kaabi, Energy Minister and the CEO of Qatar Petroleum, and Yuriy Vitrenko the Acting Energy Minister.... #BlackSeaGas #LNGforUkraine #qatarpetrolium
President Zelenskiy said of the emerging energy relationship: “Ukraine is very interested in supplying liquefied natural gas, as well as working with Qatari specialists in the development of our Black Sea shelf. We have signed a memorandum between our states, an... #BlackSeaShelf #liquefiednaturalgas
Qatar’s state-owned Nebras Power signed an agreement with UDP Renewables to invest in Ukrainian solar plants which are planned for construction by the end of 2022. At the end of the investment cycle, Nebras will become owner of a controlling stake in the plants. #NebrasPower #SolarEnergy #SolarUkraine #UDP
Today President Zelenskiy will travel to Qatar, the gas-rich, agriculture-poor Gulf State. It will be Zelenskiy’s second trip to the Gulf in two months, following a visit in February to Qatar’s eastern neighbor, the United Arab Emirates. Referring to a country with an economy the size of Uk... #QatarUkraine #Zelenskyy
With the world’s third largest natural gas reserves, after Russia and Iran, Qatar is looking at the Ukrainian market as a customer – either pipeline gas through LNG terminals in Croatia and Greece, or through eventual delivery of LNG through Turkey’s planned Istanbul Canal. Today the talks will touch on gas supply, joint investme... #GasfromQuatar #QuatarandUkraine #Quatargas
High steel and iron ore prices account for most of the 27% yoy jump in Ukraine’s exports of goods in March, wrote Alfa-Bank Ukraine. Steel export revenues were up 75% yoy and iron ore revenues were up 99% yoy. UkrMetalurgProm, the industry association, reported that in March the steel billet average export ... #Oreexport #Steelexport #SteelUkraine
London-based VR Capital is investing €75 million to buy three wind power plants with a total design capacity of 49.5 MW in Odesa’s Bessarabia region. The seller, Metropoliya Group, is to continue technical support of the projects until they enter commercial operation next year, VR Capital said Thursday. In addition, VR’s Elementum Energy Ukraine is... #EnergyofUkraine #MetropoliyaGroup #VRCapital #windpower
All subsoil permits – for mining and gas and oil – are being checked retrospectively to 1994, said Roman Opimakh, Director of the State Service of Geology and Subsoil, in a speech yesterday. Looking for no-bid and ‘sleeper’ permits, the agency plans to check this year approximately one third o... #GasPermit #MiningPermit #OilPermits #State ServiceofGeologyandSubsoil #SubsoilPermits
A $2 billion project to build the world’s largest solar plant around Chornobyl seems to have been largely dreamed up to pump of the stock of the US company, Energokon, according to analysts interviewed by Radio Free Europe in a 2,500-word investigative report. The 3-gigawatt plant also was designed to export hydrogen and to create a 5G mobile network. The... #Chernobylsolar #Energy #Solar #solarinChernobyl #SolarPlant #solarpowerukraine
