Naftogaz Ukrainy reduces net losses by 86% in H1
KYIV. Aug 11 (Interfax) - National oil company Naftogaz Ukrainy's unconsolidated net losses according to Ukrainian accounting standards decreased by 86% year-on-year to 297.266 million hryvni (7.89 hryvni/$1 on August 11, 2010) in January-June 2010.
According to the company's results, which are accessible through Ukraine's State Commission for Securities and the Stock Market, net revenue increased by 8.3% to 44.724 billion hryvni in the first half.
Naftogaz Ukrainy's gross losses over the six months came to 76.511 million hryvni compared to gross profit coming to 3.981 billion hryvni in the same period of 2009.
Naftogaz Ukrainy unites the largest oil and gas extracting enterprises of Ukraine. The holding is a monopolist in natural gas transit and storage in underground gas storage facilities, and in oil transiting via pipelines across Ukraine.