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Economy 2020-04-03T04:02:52+03:00
Ukrainian news
Naftogaz Supervisory Board Extends Board Chair Kobolev’s Contract Until March 22, 2024

Naftogaz Supervisory Board Extends Board Chair Kobolev’s Contract Until March 22, 2024

Naftogaz, contract, Andrii Kobolev

The supervisory board of the Naftogaz of Ukraine national energy company has extended the contract of the company’s Board Chairman Andrii Kobolev until March 22, 2024.

This is stated in extracts from the minutes of a supervisory board meeting obtained by Ukrainian News Agency.

“The term of the contract of the of the company’s Board Chairman A. Kobolev is to be extended by four years, provided that the board chairman will ensure that all the supervisory board’s decisions are implemented in accordance with the terms of his contract,” the document states.

Under the terms of his previous contract, Kobolev’s official salary is UAH 1.041 million per month.

Kobolev also received bonuses totaling UAH 286.5 million (including his bonus of UAH 261 million for Naftogaz of Ukraine’s victory in a dispute against the Gazprom gas company at the Arbitration Institute of the Stockholm Chamber of Commerce) in 2018.

President Volodymyr Zelenskyy has instructed the Cabinet of Ministers to look into the issue of payment of large bonuses to Naftogaz of Ukraine’s executives for the arbitration of award of USD 2.918 billion that the company received from the Gazprom gas company (Russia).

As Ukrainian News Agency earlier reported, Naftogaz of Ukraine’s supervisory board signed a one-year contract with Kobolev at the end of March 2019 based on conditions approved by the Cabinet of Ministers.

Naftogaz of Ukraine is the leading company in Ukraine in terms of exploration and development of oil and gas deposits, drilling, transportation, and storage of crude oil and natural gas, and supply of natural gas to consumers.

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