Naftogaz projects profit of UAH 16-18 bln in 2016

14:42, 19.08.2016 1 min read

Profit of national joint-stock company Naftogaz Ukrainy in 2016 could be UAH 16-18 billion, Naftogaz Head Andriy Kobolev has said.

"In H1 2016 profit will be around UAH 21 billion, and we expect UAH 16-18 billion of profit at the end of the year," he said on Channel 5 TV late on Thursday.

He said that annual profit will be less than the figure for the first six months due to the necessity of compensating the loss the company saw in the previous years.

"The main source of profit is transit… Around UAH 18 billion of gross profit is from natural gas transit. As for gas wholesale, we lost around UAH 500 million in winter of 2015-2016. The reform conducted and the change of the tariff policy cut the loss from gas trade for households," he said.

As reported, Naftogaz saw UAH 21.84 billion of net profit in H1 2016, while in H1 2015 the company saw UAH 4.47 billion in loss.