Energy

Escalating the war between new Naftogaz CEO Yuriy Vitrenko and the company’s management,

Wednesday, July 28, 2021

Vitrenko charges that a reported net profit of nearly half a billion dollars for the first quarter was in reality a loss of up to $4 billion. On May 5, Peter van Driel, Naftogaz CFO posted on Facebook a preliminary Q1 net profit of the hryvnia equivalent of $469 million. Now, Vitrenko tells RBK Ukraina in a lengthy interview that an audit will show a big loss in Q1, largely due to unpaid bills by municipal heating companies and Naftogaz’ outstanding debt to Ukrnafta for received gas.

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Wednesday, July 28
Energy

Vitrenko blamed “the desire of management to talk about profits and show a supposedly good result in order to get a bonus as soon as possible,

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With European gas prices at 13-year highs, Gazprom declined an opportunity yesterday to increase its shipments across Ukraine in August by 50%

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