Economy 2021-05-08T04:02:25+03:00
Ukrainian news
Naftogaz Expects To Receive UAH 11.8 Billion Loss In 2020

Naftogaz Expects To Receive UAH 11.8 Billion Loss In 2020

Naftogaz, Naftogaz of Ukraine, loss

The Naftogaz of Ukraine national joint-stock company expects to receive UAH 11.8 billion of loss in 2020.

This is evidenced by materials for the meeting of the Cabinet of Ministers, which is scheduled for April 21, Ukrainian News Agency reports.

"In accordance with the draft financial plan of Naftogaz for 2021, which was provided to the Ministry of Economic Development, Trade and Agriculture, the company, based on the results of financial and economic activities for 2020, is forecast to receive a loss in the amount of UAH 11.8 billion," the statement reads.

At the same time, it is noted that earlier the financial plan of Naftogaz for 2020 was supposed to receive UAH 11.5 billion of profit.

As Ukrainian News Agency earlier reported, in January-September 2020, the Naftogaz group received a net loss of UAH 17.034 billion, while for the first nine months of 2019 the group received a profit of UAH 21.309 billion.

In 2019, the Naftogaz Group increased its net profit 5.5 times or by UAH 51.7 billion to UAH 63.3 billion, of which UAH 55.7 billion was received from Gazprom (Russia) based on the results a positive decision in arbitration under a transit contract.

The Naftogaz of Ukraine national joint-stock company is a leading enterprise in the country's fuel and energy complex, which is engaged in exploration and development of deposits, drilling, storage of oil and gas, transportation of oil, as well as supplying gas to consumers.

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