Naftogaz
 |
|
|
Native name
|
Нафтогаз України |
|---|---|
| Industry | Oil and gas |
| Founded | 1991 as Ukrgasprom; reorganized in 1998 under current brand |
| Founder | Ministry of Energy |
| Headquarters | Kyiv, Ukraine |
|
Key people
|
Andriy Kobolyev (CEO) |
| Products |
natural gas crude oil condensate petrol |
| Services | Pipeline transportation, oil production, gas production, municipal heating |
| Owner | Government of Ukraine |
|
Number of employees
|
175000 (2014) |
| Parent | Ministry of Fuel and Energy |
| Divisions | Mining and refinery, transportation, distribution |
| Subsidiaries | UkrGasVydobuvannya, Ukrtransgaz, Ukrtransnafta, Ukrspetstransgaz |
| Website |
www |
Naftohaz of Ukraine (Ukrainian: НАК "Нафтогаз України", literally "Oil and Gas of Ukraine"), is the national oil and gas company of Ukraine. It is a state-owned company subordinated to the Government of Ukraine. The company is involved with extraction, transportation, and refinement of natural gas and crude oil.
Ukraine's system of trunk natural gas pipelines and underground natural gas depots is operated by Ukrtransgaz, a subsidiary of Naftohaz. Another subsidiary of Naftohaz, Gas of Ukraine, is responsible for domestic gas distribution to the local district heating companies.
Naftohaz is a major Ukrainian employer with 175,000 workers. It received more than $6 billion of subsidies in domestic bonds from 2009 to 2012 as regulated gas prices and expensive Russian energy imports led to heavy losses. Former PricewaterhouseCoopers management consultant Andriy Kobolyev took over as CEO after the 2014 Ukrainian revolution tasked with reducing the country's dependence on Russian gas and reforming the company's business practices.
The company was founded in 1998 after previously being named Ukrgazprom. As of 2009, the company had 38,200 km of high pressure gas transit pipelines and more than 30 billion cubic meters of gas storage capacity. This major gas infrastructure located between Russia and the European Union has led the company to feature prominently in regional politics. Naftohaz has been seen as one of the biggest sources of corruption in Ukraine for years with many of the country's billionaires having acquired much of their wealth through gas arbitrage based on differences between the prices of Russian gas imports, gas exports to the EU and government energy subsidies to homes and businesses.
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Wikipedia