Ukraine: Ukrnafta to use UAH 360 million to intensify production in 2017

PJSC Ukrnafta plans in 2017 to invest UAH 360 million in intensification of hydrocarbon production, the press service of the company has said. According to its data, this year Ukrnafta plans to purchase 248 sections of electric submersible pumps, as well as submersible motors, gas separators, hydraulic protection, extension cables, submersible cables, submersible telemetry systems,…

Ukraine: share of nuclear energy up

Ukraine has significantly increased the share of the nuclear energy in the overall energy balance of the country, president of Ukraine Petro Poroshenko stated at a meeting of the National Security and Defense Council (NSDC). “I am pleased to inform that we have increased the share of nuclear energy in the overall energy balance. From…

Ukraine: trade turnover with the Czech Republic up in 2016

The trade turnover between Ukraine and the Czech Republic increased by 18.6% in January-November 2016. This was discussed by the Vice Prime Minister for European and Euro-Atlantic Integration Ivanna Klympush-Tsyntsadze and Agriculture Minister of the Czech Republic Marian Jurecka. The parties discussed cooperation between the two countries in the field of agriculture and welcomed the…

Ukraine: level of shadow economy down in 2016

In January-September 2016 the level of the shadow economy in Ukraine totaled 35% of official GDP, down by 5 YoY. This is stated in a report developed by the Ministry of Economic Development and Trade. According to the ministry, the process of de-shadowing became possible due to certain factors: relative macroeconomic stability; business climate improvement…

Ukraine: Energoatom and General Electric Hitachi to study prospects of cooperation

National Nuclear Generating Company Energoatom and General Electric Hitachi, Global Nuclear Fuel will study the prospects of cooperation, the press service of the Ukrainian company has reported. “Energoatom President Yuriy Nedashkovsky, Vice President of General Electric Hitachi in Europe David Powell and Global Nuclear Fuel CEO Amir Vexler held a meeting. At the meeting representatives…

Ukraine: 2016 the year of economic recovery

Ukrainian Prime Minister Volodymyr Groysman stated that 2016 was the year of economic recovery, and industry, construction sector, and agriculture showed the best growth rates. “I would like to emphasize that 2016 marked the resumption of growth of Ukrainian economy. We observed progress in all the economy sectors,” Groysman said. He noted that industry, construction…

Ukraine not purchasing Russian gas for 440 days

Ukraine has not been purchasing gas from the Russian Federation for 440 days already, Ukrainian Prime Minister Volodymyr Groysman said at a Cabinet’s meeting.

“We have been living without Russian gas for 440 days already. This is a matter of our energy independence,” Groysman said. (Ukrinform/Business World Magazine)

Ukraine: air traffic up in January 2017

In January the volume of air operations carried out by Ukrainian airline companies increased by 57.5% in contrast to the same period last year and came to 676.5 thousand passengers. In particular, the volume of international air operations increased by 60.6%, totaling 608.2 thousand passengers, the press service of the Ukrainian State Aviation Administration reports…

Ukraine: NBU divides banks into three groups

The National Bank of Ukraine (NBU) in 2017 divided banks into three groups – state-run banks, banks of foreign bank groups and banks with private capital, the NBU has reported on its website. According to NBU Board decision No. 76-sh dated February 10, the state-run banks group includes banks where the state directly or indirectly…

Ukraine: Polish company to build waste recycling plant in Zakarpattia region

The Polish company Limba has offered design solutions for solid municipal waste recycling plant construction using advanced technologies in Zakarpattia region. This is reported by the press service of Zakarpattia Regional State Administration referring to a relevant cooperation agreement signed by the Polish company’s representatives and the state administration. The technologies offered by the Polish…

Ukraine: coal stocks down in January 2017

Coal stocks in the warehouses of thermal power plants (TPP) of Ukraine in January decreased by 5.5% and as of February 1, stood at 1.948 million tons, the Ministry of Energy and Coal Industry has reported. In particular, gas coal and long-flame coal stocks amounted to 905,900 tons, while anthracite coal stocks amounted to 1.042…

Ukraine: gas stocks down in mid-February 2017

Gas stocks in Ukraine’s underground storage facilities declined by 38.6%, to 9.044 billion cubic meters since October 13, 2016 when the current heating season began, through February 11. Ukraine withdrew 87.94 million cubic meters from underground storage on February 11, and a total of 840.54 million cubic meters on February 1 through February 11 (74,41…