ZHVANETS – National JSC Naftogaz Ukrainy is not going to initiate a meeting of stockholders in Ukrnafta, the country's largest oil producer, in the near future, according to Chairman of Naftogaz's board Yevhen Bakulin.
"A meeting of the stockholders is a different issue, especially when it concerns the distribution of dividends. Social issues are on the agenda now, and working issues are being settled on the operating level," he told reporters on May 30 during his visit to Khmelnytsky region.
In this connection, a meeting of Ukrnafta’s supervisory board will be held soon.
"The supervisory board is to meet in the near future. The key issues on the agenda are production results – an increase in the production of crude oil and natural gas to meet domestic demand," he said.
As was reported, Ukrnafta’s net profit in 2012 shrank by 17.6%, or Hr 464.4 million, from 2010, to Hr 2.182 billion. Its net revenues grew by 22.5%, or Hr 4.492 billion, to Hr 24.502 billion, whereas gross profit slid by 18.7%, or Hr 902.048 million, to Hr 3.929 billion.
Last year Ukrnafta cut crude oil output by 6.2%, or 136,900 tonnes, from 2010, to 2.079 million tonnes, while production of gas condensate fell by 28.4%, or 76,600 tonnes, to 193,200 tonnes. The company also reduced the production of gas by 12.2%, or 298.6 million cubic meters, to 2.147 billion cubic meters. In particular, the production of natural gas fell by 13.6%, or 261.3 million cubic meters, to 1.657 billion cubic meters.
National oil and gas company Naftogaz Ukrainy owns a 50% plus one share stake in Ukrnafta, and a group of companies associated with the shareholders in Dnipropetrovsk-based PrivatBank owns around 42%.
