: :inin Kyiv (EET)

Ukraine`s major state-owned gas producer boosts profits

Ukrgazvydobuvannia, Ukraine`s largest state-owned gas producer, in 2016 increased its net profit by 77.9 times compared to 2015, from UAH 153 million to UAH 11.919 billion, the company`s report says.

The net income of Ukrgazvydobuvannia increased by 2.5 times in 2016, to UAH 55.041 billion, according to the report.

Gross profit increased by 6.3 times, to UAH 19 billion.

Earlier, Ukrgazvydobuvannia in 2016 increased the production of natural gas by 0.5% compared with 2015, that is, to 14.605 billion cubic meters.

At present, the company is implementing the 20/20 program, which envisages the increase in gas production to 20 bcm per year by 2020. The program`s cost is estimated at UAH 110 billion.

Memo. Ukrgazvydobuvannia is Ukraine`s largest gas producer, holding a 70% share in the total volume of the country`s hydrocarbon production.


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