Weekly news digest February 24 – March 2, 2014

The assignment of the new government did not clarify the plans regarding oil and gas industry, while the situation in Crimea challenges the integrity of the country. Oil and gas men have to operate under such not simple conditions in Ukraine. During last week all the attention was attracted to forming of the new government, including the assignment of the Heads of the Ministry of Energy and Coal Mining.
Last week will be remembered for unseen devaluation of Hryvna with exchange rate reaching 11 UAH per 1 USD. The volatility of the currency exchange undermined the bank system with almost complete interruption of credit provision and, consequently, putting in danger all oil and gas projects.
One more destabilizing factor is the situation in Crimea where all the important state facilities are allegedly captured by Russian militaries.

Ukrainian companies
Oil and gas production increased by 4.9% in January
Oil production in January 2014 decreased by 3.1% — up to 177.3 thousand tons
Naftogaz reduced the import of Russian gas sharply
On Tuesday night the building of Naftogaz of Ukraine in Kiev was attacked by unknown persons
Ukrgazdobycha loses its profit
Neftegazdobycha commissioned a new well
Does Firtash intend to save gas for the future?
Foreign companies
Total is planning to increase the production capacity of LNG by 30% by 2017
The future is being formed today
Reserves of shale gas in Ukraine are not confirmed
In January 2014 gas consumption decreased by 4.1%, import - by 0.8%, transit increased by 5.3%
Policy and world
Yuriy Prodan was appointed asthe Minister of fuel and energy of Ukraine
The Ministry of Nature operates under the supervision of Public Council
England intends to increase oil and gas production in the North sea
In 2013 Belarus reduced the export of petroleum products by 22.5%
Ukraine will continue the energy reform in accordance with the European requirements
The Ministry of Energy of Russian Federation does not see any point in prolongation of gas discounts for Ukraine