Weekly news digest February 17-23, 2014

After a lingering three-month political crisis came fast and not less dramatic denouement. In one day the representatives of Yanukovych's government were removed and the country entered a new period of its history. Today’s Ministry of energy and coal mining headed by Eduard Stavitskiy will be changed the most radically because Stavitskiy was one of the fiercest opponents of Maydan. The political component plays a major role in the oil and gas sector. To this date state-owned companies are providing up to 90% of hydrocarbon production and raw materials reserves.
Today it is impossible to predict who will receive the control over energy of Ukraine and there are several factors causing this. An important reason for new appointments in the petroleum sector was the release of Yulia Timoshenko, who has great interest in it.
Given the instability of the situation it can be expected that there will be a lot of  unforeseen appointments in oil and gas industry. But the most of uncertainties concern Ukraine and Russia: how cooperation will go, whether we shall wait for a new "gas war" and much more.

Ukrainian companies
Naftogaz is preparing to pay the debt for Russian gas.
In 2013 Ukrtransnafta made 313 million UAH net profit.
Southern branch of trunk oil pipeline Druzhba transports oil to Europe in full.
Oil refining was decreased by 9.1% - up to 182.7 thousand tons. in January 2014
Former advisor of the head of Cherkasy regional state administration entered the Supervisory Board of Nadra of Ukraine.
Gas reserves in the underground gas storages of Ukraine make up 11.5 billion cubic meters.
Policy and world
In January 2014 Russia has increased oil and gas production.
Custom service unblocked import of petroleum products.
Fuel demand in Kiev's gas stations increased three or fourfold.
Oil pipeline VSТО-2 resumed operation after 72-hours shutting down.