Ukrainian oil and gas company

RUSSIA / FSU POLITICS - In Brief 29 Apr 2021 by Alex Teddy
On April 28 the head of Naftogaz was fired. Nafotgaz had a poor 2020. The company lost USD 684 million in 2020. This was due to low prices but also debt problems. In 2019 it made a profit of USD 94 million. Bizarrely, the company paid USD 5 billion in tax in 2020, making it the country's single biggest taxpayer.Yuiry Vitrenko is now the acting CEO of the company until a permanent replacement can be found. Vitrenko is also the Energy Minister. Yury Boyko will temporarily assume the duties of minister. Herman Haluschenko is being considered by the Ukrainian Parliament to become Energy Minister.The outgoing Naftogaz CEO Kobolyev blamed the losses the company made on poor state regulations.

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