Does Ukraine refuse to continue oil business in Egypt?

Does Ukraine refuse to continue oil business in Egypt?

31.12.2016 News

Company Naftohaz  Ukraine has analyzed the alternatives to  sale the foreign assets, but there is no a buyer for it. According to the director of the company  Andrii Kobolev, the true reason for this is a low profitability of Ukrainian Naftohaz assets in Egypt. It is reported by UNIAN.

Kobolev said that it is not worth to continue its business in North Africa through the low yield for the holding company, and the best option – it’s just come out of it.

Also in March this year, the holder said that the company Naftohaz plans to reduce its investment in its oil production assets due to low tariffs for oil.

Naftohaz Ukraine is Ukrainian integrated oil and gas company engaged in exploration, drilling wells, and playback of gas and oil deposits. Project Manager of which from 2012 is a joint venture Petrosannan Company.

Also read: Engie to store gas in Ukraine

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