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Oil and gas
January 25, 2011
Ukrnafta shortens oil sales

In 2010 Ukrnafta [UNAF UK] has shortened sales of oil and gas condensate by 17.8% YoY to 2.2 mln tons. Liquified gas condensate sales lost 12.4% to 158 thsd tons, light distillate – 31.6% to 174 thsd tons. Oil extraction fell by 12.2% to 2.2 mln tons, gas condensate extraction declined by 12.4% to 270 thsd tons. Liquified gas production lost 11.6% falling to 160.5 thsd tons, light distillate output decreased by 25.4% to 190 thsd tons.

Oil and gas
January 12, 2011
Ukrnafta’s production down double-digit figures in 2010

Ukrnafta’s [UNAF UK, U/R] production of oil and gas condensate in 2010 declined by 12.1% YoY to 2.5 mt, while its natural gas segment posted a 17.3% YoY drop to 2.4 mln cbm.

Oil and gas
December 14, 2010
Ukrnafta’s output figures down in November

Ukrnafta’s oil, gas condensate and natural gas production continued to decline in November. The output of oil and gas condensate was down 4.8% MoM, while the natural gas output posted a modest 0.6% decline over October figure.

Oil and gas
November 19, 2010
UNAF’s royalty fee surged 40% as of ’11

Yesterday the Parliament approved the new Tax code, which raises the oil and gas condensate and natural gas royalty fees by 40%. It was also noted that the further increase may follow soon. Moreover, the fee for extracting hydrocarbons is also raised by 18.5%. The Tax code is effective from January 1, 2011.

Oil and gas
November 11, 2010
Ukrnafta’s oil and gas condensate output shows further decreases in October

Ukrnafta’s oil and gas condensate production continued to decline in October, although at a slower pace compared to September. In October, output retracted by 1.7% MoM to 206.8 thsd tons, which amounted to 2.1 mln tons of oil and gas condensate in 10M2010, or a decline of 12.7% YoY. Ukraine’s total oil and gas condensate extraction was down 3.7% in October and dropped by 10.8% in 10M10.

Oil and gas
October 27, 2010
Ukrnafta (UNAF) sold 90% of its output in 9M10

Ukrnafta’s unit sales breakdown indicates that in 9M10, the Company sold about 90% of its total output of oil and gas condensate, natural gas, and other products. At the same time, unit sales were 12-18% lower than in 9M2009.

Oil and gas
October 26, 2010
UNAF’s 3Q10 results propelled by the higher natural gas sales

Ukrnafta’s 3Q2010 net sales grew 54% to UAH 6.2 bln, while its EBITDA grew 33% to UAH 1.5 bln, which implies margin of 24%. The Company’s net profit grew to UAH 975 mln, which represents just 6.7% q/q increase due to a massive profit tax payment. UNAF’s net margin reduced from 23% in 2Q10 to 16%.

Oil and gas
October 21, 2010
Ukrnafta will sell additional 140 mln cm of natural gas to industrial users

By another court ruling, received lately, Ukrnafta was allowed to sell 140 mln cm of its natural gas, previously pumped into underground storages, to industrial users. The gas will be supplied to chemical producers Dniproazot and Cherkassyazot.

Oil and gas
October 14, 2010
Ukrnafta’s output of oil and gas condensate and natural gas down again in September

Ukrnafta’s oil and gas condensate production was down 3% MoM in September (-12.9% YoY in 9M2010), while its natural gas output decreased by a smaller extent, Interfax reported. At the same time, Ukraine’s total oil and gas condensate production grew a modest 0.9% (but still -10.8% YoY in 9M10), and natural gas output fell 5.7% in 9M10.

Oil and gas
October 6, 2010
Oil & gas condensate royalty ratio up 3% in September

The Ministry of Economy announced an oil & gas condensate royalty ratio of 1.1 for September, 3% up m-o-m.

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