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 profit,” declining to go into details. He said the company might seek to place a Eurobond, noting: “We now believe that the borrowing market for Naftogaz is very positive and attractive.”