The joint venture of Naftogaz of Ukraine and the Egyptian General Petroleum Corporation – Petrosannan Company – has added 20%, or 600 barrels per day, to oil production in the Western Desert of Egypt, the company’s press service reports.
This was reportedly made possible by fracturing in the pilot wells.
It is noted that if production volumes and current oil prices ($ 60 per barrel) are maintained, Naftogaz will have additional income from operations of almost $ 400,000 per month.
“We plan to continue to apply the experience gained, in particular in the implementation of hydraulic fracturing, in other areas operated by the Naftogaz Group in the Arab Republic of Egypt,” said First Deputy Chairman of the Board of Naftogaz Sergei Pereloma.
Exports of goods accounts for a third of Ukraine’s GDP.But we sell primarily raw materials abroad. It is a marker of underdeveloped countries and a path that does not contribute to economic development. Our state’s strategic task is to increase the exports of high-tech goods with high added value: that is, not just to grow […]
Next year, Ukraine may face a number of macroeconomic risks that will greatly affect economic growth. The Ministry of Finance listed these risks. In particular, Ukraine may lose 0.6-0.8 percentage points of GDP growth due to too low grain yields, due to which the budget will not receive UAH 8.5 billion. At the same time, […]
The low-cost airline Ryanair plans to expand in Ukraine if the open skies agreement with the EU is approved in the coming months. CEO Michael O’Leary stated this. O’Leary predicts the signing of an agreement between Ukraine and the EU by the end of 2021. “One of the markets I would single out is Ukraine. […]
Ukraine plans to privatize 737 state-owned enterprises during 2021-2023. The Ministry of Economy published the list of objects for sale. Although some companies will be able to sell only after the amendments to the legislation. In particular, such large enterprises as Centerenergo, the United Mining and Chemical Company, Turboatom, the Zaporizhia Titanium and Magnesium Plant, […]
Apple Inc, according to a lawsuit filed by Epic Games Inc., must allow mobile app developers to redirect users to alternative resources to pay for services in the App Store. The Wall Street Journal reported this. A 30% commission is now charged on each purchase. Judge Yvonne Gonzalez Rogers concluded that Apple’s practice was uncompetitive […]
The World Bank will provide Ukraine with a second tranche of $ 350 million, but subject to certain conditions. WB Vice President for Europe and Central Asia Anna Bjerde told Interfax-Ukraine what exactly is expected from Kyiv. “The prospects for the second tranche of the Economic Recovery Development Policy Loan depend on maintaining an adequate […]
September 13, 2021 — Stockholm, Sweden — Beetroot AB, the tech division of the Beetroot ecosystem, opens a new location in Mariupol, Ukraine. The company is currently accepting applications for over fifty software development vacancies in its international client projects. In Mariupol, Beetroot will focus on building teams of tech specialists to work on a […]
The American multinational corporation Google, fined in France for copyright infringement, has announced its intention to appeal the decision of the French regulatory authorities. This was announced on Wednesday, September 1, the chairman of the board of Google France Sebastien Missoff. “We do not agree with some legal nuances and consider the amount of the […]
The Antimonopoly Committee drew the line under the proceedings between the Ukrainian “daughter” of the German firm Rehau and its namesake – the Kyiv production company Rehau. Both work in the window market under the Rehau brand. By the decision of the AMCU the Rehau production company is obliged within a month to abandon from […]Next
IPO Snowflake, which will take place on the NYSE, will be held at the higher price than announced in early September. On Monday, according to SEC applications, Snowflake, a company that makes storage software, raised its projected stock price to $ 100- $ 110, while the market valuation of the company could grow to $ […]Next
The Shevchenkivskyi District Court of Kyiv has seized the property and 100% of the shares of Motor Sich. This was announced on Saturday, March 20, the press service of the SBU. The property of the enterprise has been transferred to the management of the National Agency for Detection, Investigation and Management of Assets Obtained from […]Next
In the second quarter of 2020, the Anglo-Dutch oil and gas corporation Royal Dutch Shell will write down assets worth up to $22 billion on new oil and gas price forecasts. This was reported in the press release of the company. Shell revised its medium- and long-term price forecasts, reflecting the expected effects of the […]Next
Analytical Internet edition Ars Technica has published an updated list of representatives of IT-business, who will be under the threat of extinction in the new 2017 year. At this time, the list is made up of 7 contenders. Among them are: the social network Twitter, the search engine Yahoo, Messenger Yik Yak, medical startup Theranos, […]Next
The investment company of billionaire Warren Buffett’s Berkshire Hathaway in the II quarter 2020 net income increased due to higher cost of investment after the rise of stock markets and the collapse in the first quarter due to coronavirus pandemic. During the reporting period the company received $ 26.3 billion in net profit to $ […]Next
Today 11 July Ukraine and Canada signed an agreement about establishment a free zone. During the signing were attended the President of Ukraine Petro Poroshenko and Prime Minister of Canada Justin Tryudou. Ukrainian MP Stepan Kubiv wrote on his page on facebook, it is a very important document for Ukraine. He will bring the relations […]Next
Chinese e-commerce company JD.com Inc announced on Saturday that it will be the first platform in the country to accept China’s digital currency. The Central Bank of China will hold its second digital yuan lottery among citizens of Suzhou, near Shanghai on Friday. The total amount of playable digital yuan is 20 million ($ 3.06 […]Next
According to Interfax-Ukraine, the State Food and Grain Corporation of Ukraine (SFGCU) will initiate a rate decrease. The Eximbank of China issued the credit to the corporation under Ukraine state guarantees in the amount of 1,5 milliard dollars in 2012. Oleksandr Hryhorovych, the acting CEO of SFGCU said: “We work on the very important issue. […]Next
The Visa payment system will allow the use of the USD Coin stablecoin for settlements in its network, the company said in a press release. The payment system has launched a pilot project in conjunction with the cryptocurrency platform Crypto.com and plans to offer the opportunity to conduct transactions with this cryptocurrency to partners in […]Next
Nationalization of PrivatBank, lawsuits against Apple, and the most interesting ideas from leading industry executives. Only that is really worth your attention 1. Privat is no longer private On December 18 at 23:30 p.m. it was posted the information on the site of the Governmental portal of Ukraine that […]Next
The coronavirus epidemic in the world will intensify by the end of this year due to the seasonality of the infection, but in early 2021 the situation will improve. This opinion was expressed by the head of Microsoft Bill Gates at the virtual conference GeekWire Summit. This was reported by Inc. “The good news is […]Next
Last year, the Commercial Court of Kyiv initiated a suit of the SANOF I company to the State Intellectual Property Service of Ukraine and to the “Kyivmedpreparat”, PJSC about completely voidance of Certificate of Ukraine on sign for the goods and services № 187104. The object of dispute has become a “SONAFІT” trademark registered company […]Next
Inflation in Ukraine in 2017 has an upward trend. Experts predict the order of 8%. With regard to the dollar – the assumption is not very comforting. All these things and more were discussed at the general meeting of the EBA Ukraine’s Business Climate-Global Outlook, which took place on January 26, 2017. In 2017 on […]Next
Continuing a topic of the relations correct registration between investors and the builder we continue to inform about legal niceties of such relations possible options registration within a “Construction scam”special project. We have already said about how to arrange the agreement of share participation, the purchase and sale provisional agreement. Today it will be an […]Next
The management of the Hungarian airline Wizz Air will close a branch in Kyiv, that has three passenger liners, if its employees do not agree to stop the union. This is stated in the statement of the European Transport Workers Federation ETF. According to the statment, the conflict began after the decision of Wizz Air […]Next