Weekly news digest August 25-31, 2014


An important event in oil and gas industry happened last week when President Petro Poroshenko announced a declared reform of National Energy Regulation Commission, it is reported in resolutions No 692-695 dated August 7. Formally, NERC was liquidated, however, practically, it was just united with another similar organization National Utilities Regulation Commission.



Ukrainian companies
Naftogaz returned back to Gazprom $10.5 million of baseless transit fee
Ukrgazdobycha is suspected of large gas fraud
Chernomorneftegaz gave the Deputy from the Party of Regions two gas fields in the midst of the Crimea annexation - MSM
Ukrgazdobycha is being checked by law enforcement authorities
The Commercial Court obliged Ukrnafta and Ukrgazdobycha to sell energy resources at the UUE
The record volume of gas was produced in Ukraine in July
Foreign companies
Cadogan Petroleum increased its loss by 73% for the first half-year
The order on emergency measures in electric power industry was published
Ukraine increased gas reserves in UGS up to 15.535 BCM
Ukrtransgaz intends to be prepared for the winter season by October
Transneft left valid tariff for petroleum products pumping within Ukraine
Prodan: Ukraine still can pump up to 10 BCM of gas into UGS
Politics and the world
The Cabinet of Ministers agreed to transfer the property of the subsidiary Gas of Ukraine
Poroshenko eliminated NERC