Naftogaz boasted of billions of dollars in profits - and they still haven’t collected a gigantic fine from “Muscovites”
NJSC “Naftogaz of Ukraine” published allegedly audited financial statements of the company as a separate legal entity for 9 months of 2016, according to which during the reporting period Naftogaz received a net profit of UAH 25,5 billion.
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It is noted that the financial statements are prepared in accordance with International Standards and the requirements of the Law of Ukraine.
Naftogaz’s profit does not take into account the costs of accruing a reserve for doubtful debts in the amount of UAH 1,7 billion, taking into account which the company’s net profit for 9 months of 2016 would have amounted to UAH 23,9 billion.
The company's net profit was generated by natural gas transit (78%), gas wholesale trade (18%) and other income (4%).
Naftogaz especially emphasized that as a result of reforming the natural gas market, for the first time in many years the company did not cover losses from gas sales with transit revenues.
Let us remind you that Naftogaz seriously expects that, as a result of the Stockholm arbitration, they will be able to recover 172 billion hryvnia (about $6,64 billion) from Gazprom. As Interfax reports, the Gazprom company filed a claim with the Stockholm Arbitration Court against the decision of the Economic Court of Kiev, which satisfied the claims of the Antimonopoly Committee of Ukraine for the forced collection of a fine in the amount of 172 billion UAH (about $6,64 billion).
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