Energy

Tuesday, October 17

What foreign companies need in order to invest in Ukrainian hydrocarbon production.

What foreign companies need in order to invest in Ukrainian hydrocarbon production. According to the owner of Alfa Gas, Oleksandr Katsuba, Italian, British, and Middle Eastern companies are interested in the Ukrainian oil and gas market. However, investors expect predictability in th...

The state’s debt to green energy producers has increased to ₴30B.

The state’s debt to green energy producers has increased to ₴30B. State-owned Ukrenergo’s debt to renewable energy producers under the green tariff has reached ₴29.9B ($820M), reported the Guaranteed Buyer. As of August 1, the company’s debt to the Guaranteed ...

Thursday, October 12

As EU gas prices rise again, the IEA predicts a demand decline for blue fuel until 2026.

As EU gas prices rise again, the IEA predicts a demand decline for blue fuel until 2026. The spot price of gas in Europe on Tuesday exceeded the mark of $500 per thousand cubic meters for the first time since the beginning of April. The day-ahead contract on the TTF platform in the Nether...

A Ukrainian private energy company is building power plants in the EU.

A Ukrainian private energy company is building power plants in the EU. DTEK Group Holding plans to complete the construction of the Ruginoasa wind farm in Romania by the end of the year, which is the first project by DTEK Renewables in Europe. Also, the company has large...

Tuesday, October 10

A Ukrainian oil and gas company is seeking investors to develop 21 fields.

A Ukrainian oil and gas company is seeking investors to develop 21 fields. Ukrainian state oil and gas extracting company Ukrnafta is looking for partners for 10 fields in the west of Ukraine and 11 in the east. The company emphasizes that these are studied deposits with suf...

Moscow still receives huge revenues from energy exports, despite restrictions from the West.

Moscow still receives huge revenues from energy exports, despite restrictions from the West. Russia is still selling its oil at much higher prices than the $60 per barrel mandated by the G7 countries due to strong demand from China and India, Politico writes. It is noted that the West’s...

Friday, October 6

If Europe invests €2T in RES, it could become energy self-sufficient.

If Europe invests €2T in RES, it could become energy self-sufficient. By investing in solar, wind, and other renewable sources, Europe could abandon fossil fuels and create a self-sustaining energy sector by 2040. To achieve this goal, the continent will need an annual ...

Thursday, October 5

Ukraine is increasing biomethane production and exporting bioethanol to the EU.

Ukraine is increasing biomethane production and exporting bioethanol to the EU. The production of biomethane, bioethanol, and biodiesel is important for the agricultural sector and processing industry, and for ensuring Ukraine’s energy independence, Deputy Minister of Agrar...

Ukrenergo seeks up to a $200M loan from the EBRD to pay its debts to RES producers.

Ukrenergo seeks up to a $200M loan from the EBRD to pay its debts to RES producers. According to the chairman of the Ukrainian Renewable Energy Association board, Stanislav Ignatyev, there are debts between state-owned energy enterprises. In particular, the system operator Ukrenergo ...

Wednesday, October 4

Ukraine has increased its export of electricity to record levels.

Ukraine has increased its export of electricity to record levels. According to analysis from the DiXi Group for September, despite Russian attacks on the Ukrainian energy system with missiles and drones, Ukraine set a 2023 record for the export of electricity –...

Friday, September 29

Ukraine has launched five more wells and increased the number of foreign gas contracts to 130.

Ukraine has launched five more wells and increased the number of foreign gas contracts to 130. State extraction company Ukrgazvydobuvannya launched new wells with 500,000 cubic meters of additional daily gas production. According to the company, one well is new, and another four were drilled in...

Thursday, September 28

Ukraine has implemented multiple measures to protect energy facilities from missile strikes,

Ukraine has implemented multiple measures to protect energy facilities from missile strikes, said Prime Minister Denys Shmyhal at the Future of Ukrainian Energy forum. “Ukraine today has a significantly greater number of and more powerful air defense systems. Our air defense has become ...

The IFC has invested $400M in Ukraine’s economy since the beginning of the war and is considering investments in the energy sector.

The IFC has invested $400M in Ukraine’s economy since the beginning of the war and is considering investments in the energy sector. The International Finance Corporation (IFC) has invested $400M into the Ukrainian private sector since the start of the full-scale war, said Olena Voloshina, head of the IFC in Ukraine. According to h...

Wednesday, September 27

With the expansion of RES, achieving zero emissions by 2050 is possible.

With the expansion of RES, achieving zero emissions by 2050 is possible. According to an IEA report, the current global situation calls for increasing renewable energy capacity to 11,000 gigawatts by 2030 and increasing global investment in clean energy from about $1.8T in...

The largest chicken exporter in Ukraine will receive up to $30M in financing from the IFC to expand the capacity of its biomethane production plant.

The largest chicken exporter in Ukraine will receive up to $30M in financing from the IFC to expand the capacity of its biomethane production plant. The International Finance Corporation (IFC) will resume cooperation with the MHP agricultural holding, the largest chicken producer in Ukraine, and provide a loan to its daughter company, the Vinnytsi...

Tuesday, September 26

The US will provide $522M for Ukraine energy projects, but there are conditions.

The US will provide $522M for Ukraine energy projects, but there are conditions. These funds are intended for the restoration of damaged infrastructure, strengthening the stability of the power system and its protection against air attacks, establishing distributed gas and green e...

The EU has no alternatives to replace the 8% of its gas that is received from Russia.

The EU has no alternatives to replace the 8% of its gas that is received from Russia. According to European Commissioner Kadri Simson, if consumption is reduced the EU will save another 65 billion cubic meters by March 2024, but it will not be possible to reduce gas consumption by anot...

Ukraine is preparing to unify its electricity market with the EU.

Ukraine is preparing to unify its electricity market with the EU. The Ukraine market operator has developed a draft law to unify the electricity markets of Ukraine and the EU, said the company’s general director, Oleksandr Gavva. The main goal is to increase t...

Russia is successfully bypassing the G7 oil price cap and boosting its export revenues.

Russia is successfully bypassing the G7 oil price cap and boosting its export revenues. In August, almost 75% of all seaborne oil shipments from Russia were carried out without Western insurance, compared to about 50% this spring. The rise means Russia is increasingly adapting to circumv...

Friday, September 22

Ukraine can continue gas transit from Russia if European countries need it.

Ukraine can continue gas transit from Russia if European countries need it. According to the chairman, Oleksiy Chernyshov, Naftogaz is losing money with the current agreements, as Russia transports much less gas than it should do according to its contractual obligations. R...

Thursday, September 21

Ukraine’s wind generation potential is 140 GW.

Ukraine’s wind generation potential is 140 GW. International companies are interested in investing in the industry’s development, said Minister of Energy German Galushchenko. He noted that Ukraine lost about 80% of wind generation capacity b...

Monday, September 18

Ukraine began exporting mined uranium to Canada.

Ukraine began exporting mined uranium to Canada. According to the state company Energoatom, Ukrainian uranium will be used to produce nuclear fuel for the needs of domestic nuclear power plants at Cameco facilities in Canada. It is noted that the ag...

Friday, September 15

Gas production indicators in Ukraine are approaching pre-war levels.

Gas production indicators in Ukraine are approaching pre-war levels. State-owned Ukrgazvydobuvannya increased gas production to 36.6 million cubic meters per day in August, the Naftogaz press service reported. However, this is still less than before the start of full-s...

Thursday, September 14

Ukraine spent $2.3B on the restoration and protection of its energy facilities.

Ukraine spent $2.3B on the restoration and protection of its energy facilities. As Prime Minister Denys Shmyhal reported, the financing of preparations for the winter period took place both with Ukrainian funds and with help from international partners, including the World Bank, ...

The world is facing its largest oil deficit in 15 years.

The world is facing its largest oil deficit in 15 years. According to Bloomberg, a week ago the price of Brent oil exceeded $90 per barrel following Saudi Arabia’s decision to extend the production limit of one million barrels per day until the end of...

Russia’s income from oil sales has increased to its highest point since October 2022.

Russia’s income from oil sales has increased to its highest point since October 2022. According to the International Energy Agency (IEA), in August 2023 Russia’s revenues from oil exports increased by $1.8B to $17.1B due to an increase in oil prices, which more than compensated f...

Wednesday, September 13

Germany has increased the import of Russian oil through India by 1,100%.

Germany has increased the import of Russian oil through India by 1,100%. As Spiegel writes, against the backdrop of massive anti-Russian sanctions, Germany imports large volumes of Russian oil through India. Germany mainly imports oil from India, which is used to produce d...

Ukraine has reached agreement on electricity export-import rules with three countries.

Ukraine has reached agreement on electricity export-import rules with three countries. The National Commission for the Energy Market and Communal Services agreed on the specifics for the distribution of interstate crossing capacity between Ukraine and Poland, Ukraine and Slovakia, as we...

Wednesday, September 6

The SCM Group has increased its investment in Ukraine by a quarter over six months, to UAH 12.7B.

The SCM Group has increased its investment in Ukraine by a quarter over six months, to UAH 12.7B. According to the company, the investments are designed to ensure Ukraine’s energy independence that is sufficient to provide for a stable winter heating period, restore and develop key enterpris...

Tuesday, September 5

The US State Department: Russian oil price cap is working effectively.

The US State Department: Russian oil price cap is working effectively. State Department representative Eric van Nostrand said that the $60 per barrel price limit for purchasing Russian oil introduced by the G7 countries and their allies continues to work despite quotatio...

Oil prices have hit a nine-month high.

Oil prices have hit a nine-month high. As Trading Economics writes, WTI oil rose above $85 per barrel amid expectations that the leaders of the OPEC+ countries will continue to cut oil production. The Deputy Prime Minister of the Russian F...

Monday, September 4

In August, traders from the EU and Moldova pumped 1.1 billion cubic meters of gas into Ukraine’s storage.

In August, traders from the EU and Moldova pumped 1.1 billion cubic meters of gas into Ukraine’s storage. Compared to July, the volume has almost doubled, and compared to August of last year, has increased by 800%. According to the Operator of the GTS of Ukraine, Slovakia was the leader in gas transportat...

The Tyligulska wind power plant have started selling electricity on market terms.

The Tyligulska wind power plant have started selling electricity on market terms. As of September 1, the WPP abandoned the terms of the state’s Guaranteed Buyer and began selling electricity on market terms, according to the DTEK. This allows renewable energy companies to rec...

The Guaranteed Buyer is considering the EU market for trade in Ukrainian energy from renewable sources.

The Guaranteed Buyer is considering the EU market for trade in Ukrainian energy from renewable sources. Artem Nekrasov, the head of the state-owned enterprise, Guaranteed Buyer, considers this direction to be promising as, mainly due to the difference in time zones, the Guaranteed Buyer can offer RES e...

Friday, September 1

Ukraine has fulfilled another IMF beacon: a reformed GTS Operator.

Ukraine has fulfilled another IMF beacon: a reformed GTS Operator. The President of Ukraine, Volodymyr Zelenskyy, signed a law that optimizes the structure of the Gas Transport System Operator of Ukraine (OGTSU). These measures are provided for in a memorandum with t...

Ukraine’s Ministry of Energy has presented the Energy Security Concept.

Ukraine’s Ministry of Energy has presented the Energy Security Concept. As reported by the ministry, it is necessary to ban politically motivated exploitation of energy resources at the global level. To accomplish this, it is essential to develop documents within the fram...

Thursday, August 31

EU gas reserves have reached an absolute record, and pipeline supplies from Russia continue at maximum capacity.

EU gas reserves have reached an absolute record, and pipeline supplies from Russia continue at maximum capacity. Gas volumes in the EU have risen to their highest level ever and continue to grow, according to data from Gas Infrastructure Europe. The current inventory level has reached 92.65%, 12% higher than the...

Wednesday, August 30

A Polish oil concern increased sales to Ukraine by 62% in six months.

A Polish oil concern increased sales to Ukraine by 62% in six months. According to the Warsaw Stock Exchange, the Orlen company sold $513M in products to Ukrainian companies. In the second quarter of this year, compared to last year’s corresponding period, sales i...

Nuclear power provides half of Ukraine’s electricity needs and generates income.

Nuclear power provides half of Ukraine’s electricity needs and generates income. For the first seven months of the year, the share of nuclear power plants in the structure of electricity production was 47.6%, thermal power plants – 27.8%, hydroelectric power plants and hydro...

Tuesday, August 29

The US is ready to fully supply Europe with gas.

The US is ready to fully supply Europe with gas. At the G7 meeting in Japan, the US plans to promote the export of American natural gas to the EU, said the speaker of the House of Representatives, Kevin McCarthy. He said that parliament speakers wil...

Monday, August 28

Kyiv is ready to continue the transit of Russian gas to the EU without contracts with the aggressor.

Kyiv is ready to continue the transit of Russian gas to the EU without contracts with the aggressor. As the Ambassador of Ukraine to Moldova, Marko Shevchenko, explained, transit after 2024 can be extended by agreement with importers. “Ukraine will not initiate negotiations on extending the agr...

The commercial gas price in Ukraine has become more expensive than in the EU.

The commercial gas price in Ukraine has become more expensive than in the EU. According to industry media, the price of natural gas in the Ukrainian market has been rising since July, and today the price has exceeded the European price, said industry experts. The average price ...

A Vinnytsia poultry farm will receive a $30M loan from the IFC for biomethane production.

A Vinnytsia poultry farm will receive a $30M loan from the IFC for biomethane production. According to the IFC, the funds will finance the plant’s modernization and expansion in order to produce biomethane from agricultural waste. The first stage, financed under the project, will dem...

Thursday, August 24

The UK will help Ukraine demine energy facilities and provide $245M to purchase nuclear fuel.

The UK will help Ukraine demine energy facilities and provide $245M to purchase nuclear fuel. The Ministry of Energy of Ukraine and the British non-governmental organization The Mines Advisory Group (MAG) agreed to cooperate on the demining of energy facilities and their adjacent territories. ...

State company Naftogaz plans to modernize gas production in Ukraine.

State company Naftogaz plans to modernize gas production in Ukraine. To optimize the development of natural gas, the company will rely on the US’ experience, writes NI. The publication notes that Ukraine can become an energy-independent country in six years if it...

Monday, August 21

The EU has increased the import of Russian gas, and Hungary is preparing to use the Turkish Stream for this.

The EU has increased the import of Russian gas, and Hungary is preparing to use the Turkish Stream for this. According to Energy Intelligence, Russian pipeline gas exports to Europe continued their recent upward trend in the first half of August. And average daily flows reached the highest level since August...

Friday, August 18

Ukraine rejects the possibility of negotiations with the Russian Federation regarding gas transit after 2024.

Ukraine rejects the possibility of negotiations with the Russian Federation regarding gas transit after 2024. Ukraine will not negotiate on the extension of the transit contract after its completion, said Energy Minister German Galushchenko. “The contract, which provides for the transit of gas from Russ...

Thursday, August 17

EU traders have pumped 600 million cubic meters of gas into Ukraine’s underground storage.

EU traders have pumped 600 million cubic meters of gas into Ukraine’s underground storage. Energy Minister German Galushchenko noted that Ukraine’s storage facilities are the largest in Europe, with a total volume of more than 30 billion cubic meters, and with 15 billion cubic meters ...

Wednesday, August 16

A Ukrainian company has invested UAH 20M in roof-mounted solar panels to replace 30% of its electrical consumption with green energy.

A Ukrainian company has invested UAH 20M in roof-mounted solar panels to replace 30% of its electrical consumption with green energy. The city council reported that the Aurora Multimarket company has completed the first stage construction of a UAH 20M rooftop solar power plant on its distribution center in Vinnytsia, the city counci...

Ukraine’s energy regulator plans to resume debt repayments to clean energy producers.

Ukraine’s energy regulator plans to resume debt repayments to clean energy producers. The National Commission for Regulation of the Energy Market has approved changes to a resolution approving legal acts that regulate the activities of the Guaranteed Buyer and the purchase of electrici...

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