Page 13 - FSUOGM Week 44 2022

FSUOGM NEWS IN BRIEF FSUOGM

to preliminary trade ministry data the aim of expanding the country's Yuriy Vitrenko, head of Naftogaz,
published on November 2. Imports were up production capacity for the deep processing
31.9% y/y to $29.3bn. Exports, on the other of hydrocarbon raw materials and the resigns
hand, only grew by 2.8% to $21.3bn. That’s production of high-quality petroleum
despite Turkey’s Erdogan administration products, as well as increasing the export Yuriy Vitrenko, the chairman of Naftogaz,
stating that its “new economic model”— potential of the oil and gas industry in Ukraine’s largest national oil and gas
widely viewed as an economic experiment Uzbekistan. company, will step down from his position
that flies in the face of textbook economics on November 3, the Kyiv Independent
by the markets—has been devised to drive reported on November 1.
up exports and close the country’s chronic Poland does "not rule out” The Cabinet of Ministers of Ukraine has
current account deficit. approved the resignation of Yuriy Vitrenko,
A snapshot offered by the preliminary taking over control of Yamal Naftogaz stated on its website. The reason is
data showed Turkey’s imports from Russia currently unknown, but more information
rose 107% y/y in October to hit $5bn. That pipeline manager Europol Gaz will be revealed on Vitrenko’s last day.
made Russia the top exporter to Turkey. Naftogaz has faced a difficult year and
The figure will concern Western capitals Poland may put Europol Gaz, the manager continues to battle to provide enough gas
concerned that Turkey is acting as a conduit of the Polish section of the Yamal pipeline, to Ukraine during the “worst winter” in
that enables Moscow to avoid Ukraine war under receivership, a government minister Ukraine’s history. Vitrenko stated that
sanctions or soften the economic blow said on October 13. Naftogaz expects “constant power outages
caused by those sanctions. Europol Gaz owns and manages 684km and problems with heating” due to low
of Yamal’s Polish section. The company is gas storage supplies and repeated Russian
48% owned by Gazprom, which Poland put attacks on Ukraine’s energy facilities.
Uzbekistan’s SEG ramps up oil on its sanction list after Russia’s attack on still have enough heat, gas and electricity
"It's a challenge to ensure that people
Ukraine.
production in 9M22 were to take over Gazprom’s stake in a during the war," Vitrenko told the Kyiv
“We would be the first in Europe if we
Independent.
Sanoat Energetika Guruhi (SEG), one of company,” Technology and Development Moreover, the company has to spend
Uzbekistan’s largest oil and gas companies, Minister Waldemar Buda told Dziennik money repairing infrastructure damaged
produced 404,631 tonnes of oil in 9M22, up Gazeta Prawna newspaper. by recent Russian shelling, including over
8% y/y. Poland’s state-controlled oil and 40% of power generation plants, despite
The company said the result was gas company PGNiG is another major defaulting on a debt payment over the
achieved following the commissioning of stakeholder in Europol Gaz, owning a 48% summer.
10 new wells from drilling to commercial stake plus 4% via Gas-Trading, a company “In the gas sector, Naftogaz has managed
operation, while another main driver was from PGNiG’s capital group. to maintain almost the pre-war level.
geological and technical measures carried Earlier this month, Poland put under But production keeps coming under fire.
out at 159 wells from Andijan to Ustyurt. temporary receivership the Polish business Numerous employees have already died –
SEG in the first three quarters also of Russian company Novatek Green Energy not only because they fought at the front,
increased its average daily oil production by to ensure gas supplies to customers in but also at their workplaces,” he said, the
15% to 1,578 tonnes. Poland. New Voice of Ukraine reported.
Moreover, some 103,000 tonnes of The company sued Poland for “banditry” Naftogaz defaulted on a $335mn
diesel fuel, 96,000 tonnes of gasoline and in response. redemption on July 26 after the government
25,000 tonnes of bitumen were delivered to The company supplied gas to several ordered the company not to pay in order
customers during the reporting period. municipalities in northern Poland but to “preserve cash” to buy badly needed
SEG also concluded contracts for the was forced to halt supplies after Poland gas supplies for the winter. The investors
supply of products with 900 customers, sanctioned it in April over Russia’s invasion argued that the company was still a
887 of which were on the domestic market. of Ukraine. profitable concern and had the cash to meet
Among the non-domestic companies Poland says it will have enough gas the payment and so should have met its
were Centrum Parafiny (Poland), DYM during winter despite Russia cutting obligations.
Resources (Germany), Duato Corporation supplies altogether after Warsaw refused to
(UK), Hill (Kazakhstan), Asia Oil, Elita pay for them in rubles.
Tichorat (Tajikistan), and Tecza Energia
(Poland).
SEG was established in 2017 with

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