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2017-04-07 18:30:00

UKRAINE'S SERIOUS SHORTCOMINGS

UKRAINE'S SERIOUS SHORTCOMINGS

NGWUkraine has been urged to finalise gas sector reforms by Janez Kopac, director of Energy Community that regroups EU and non-EU states in Europe.

He chaired a meeting April 5 between international donors (European Commission, IMF, World Bank and EBRD) and Ukraine represented by deputy prime minister Volodymyr Kistion which focused on recently adopted decisions by the Ukrainian cabinet relating to gas market design and outstanding issues needed to complete gas reforms there.

According to an EC statement April 6, Kopac briefed participants on the results of the EC secretariat's analysis. This concluded that the majority of measures outlined in the Gas Sector Reform Implementation Plan, co-signed two years ago by Ukraine, World Bank and the Energy Community secretariat, had been adopted and transposed into Ukrainian law. But the analysis found that "serious shortcomings relating to implementation of the adopted measures remain."

The two most critical outstanding issues are a delay in the unbundling of Naftogaz and the current subsidy policy that endangers the functioning of district heating companies and prolongs the need for a non-compliant public service obligation scheme. Participants of the meeting agreed to design in the next weeks a roadmap of further actions to finalise gas sector reforms until the end of 2017.

Ukraine's cabinet approved November 9 a resolution to create a state company to run the country's gas grid. In February 2017 the government also consulted over new draft rules to improve storage terms and transparency.

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Earlier: 

WBG BOUGHT UKRAINE: $10 BLN 

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Tags: UKRAINE, GAS, EUROPE

Chronicle:

UKRAINE'S SERIOUS SHORTCOMINGS
2018, August, 17, 11:30:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.

UKRAINE'S SERIOUS SHORTCOMINGS
2018, August, 17, 11:25:00

NORWAY'S PETROLEUM PRODUCTION: 1.911 MBD

NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.

UKRAINE'S SERIOUS SHORTCOMINGS
2018, August, 17, 11:20:00

GAZPROM NEFT NET PROFIT UP TO 49.6%

GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.

UKRAINE'S SERIOUS SHORTCOMINGS
2018, August, 15, 11:10:00

OIL PRICE: NEAR $72

REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.

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