Latest news with #Naftogaz
Al Jazeera
11 hours ago
- Politics
- Al Jazeera
Russia-Ukraine war: List of key events, day 1,245
Here is how things stand on Wednesday, July 23: Fighting A Ukrainian drone strike on a private bus killed three people in the Russian-occupied region of Kherson, Russian-appointed local official Vladimir Saldo said. 'Three more civilians were injured and are in serious condition,' Saldo added in a Telegram post. A Ukrainian attack killed a man in Russia's Belgorod border region, the local governor said. A Russian glide bomb attack killed a 10-year-old boy in the eastern Ukrainian city of Kramatorsk, the head of the city's military administration, Oleksandr Honcharenko, said. The bomb, which caused a fire in an apartment building, also wounded five others, Honcharenko added. Russia launched multiple waves of attacks on Ukraine's Sumy region, including two separate drone attacks on a petrol station in the town of Putyvl, which injured 11 people, local officials said. The Russian army claimed that it captured the village of Novotoretske in the Donetsk region of Ukraine. Ukraine's military said that a French-supplied Mirage 2000 fighter jet crashed after experiencing equipment failure during an assignment, with the pilot ejecting safely. A 'massive' Russian drone attack damaged Ukrainian gas production infrastructure, said Sergii Koretski, the CEO of Ukraine's state energy firm Naftogaz. 'Such attacks occur regularly. These objects are of no military significance,' Koretski wrote on Facebook. Ceasefire Kremlin spokesman Dmitry Peskov told reporters that there is 'no reason to expect' any 'miracles' in ceasefire negotiations, as Moscow has yet to confirm if it will participate in peace talks in Istanbul on Wednesday, which were proposed by Ukrainian President Volodymyr Zelenskyy last week. The Kremlin said it hoped talks could be held 'this week', with Peskov adding: 'As soon as we are ready, we will make an announcement regarding the dates.' Outlining potential topics for discussion with Moscow in Istanbul, Zelenskyy said that Kyiv was ready to 'secure the release of our people from captivity and return abducted children, to stop the killings, and to prepare a leaders' meeting'. Ukraine said its ex-defence minister and current secretary of the security council, Rustem Umerov, will head Kyiv's delegation to the proposed talks. Two Russian soldiers in need of medical care were handed over by Ukrainian authorities to be returned home, the Russian Ministry of Defence said. In a statement, the ministry said the release was undertaken on the basis of agreements reached in Istanbul last month. Politics Zelenskyy signed a bill revoking the autonomy of two anticorruption agencies, after it was approved by a vote of 263 to 13 in Ukraine's parliament. The European Union's Commissioner for Enlargement Marta Kos called the decision a 'serious step back' for Kyiv and added that independent bodies were 'essential for Ukraine's EU path'. Thousands of people gathered in Kyiv and other cities across Ukraine to protest against the bill, marking the first major protest against the government in more than three years of war against invading Russian troops. The bill came a day after Ukraine's domestic security agency detained two National Anti-Corruption Bureau of Ukraine officials on suspicion of links to Russia.
Bloomberg
15-07-2025
- Business
- Bloomberg
Hedge Funds in Ukraine Are Drawing a Line In State Rail Bond Restructuring
Credit investors have largely supported debt restructurings in Ukraine since Russia's invasion. But some holders of Ukrainian Railways' bonds are reluctant to engage in new debt talks until the government allows it to raise freight charges. Welcome to The Brink. I'm Edward Clark, a reporter in London, where I looked at a brewing standoff between Ukraine's government and hedge funds holding bonds in the state rail operator. We also have news on LifeScan, which is getting close to handing control to second-lien creditors, and a look at a shift in strategy for special situation funds. Follow this link to subscribe. Send us feedback and tips at debtnews@ Hedge funds that hold bonds in Ukrainian Railways are drawing a line in debt talks that would mark a second restructuring since Russia's invasion. Credit investors have given the green light to Ukraine's $20 billion debt revamp — and those of government-owned companies like Naftogaz and road operator Ukravtodor — since the February 2022 invasion. Privately-owned firms like DTEK Renewables have also been able to get extensions.
Reuters
08-07-2025
- Business
- Reuters
Ukraine's Naftogaz launches new gas exploration well
July 8 (Reuters) - Ukrainian state energy firm Naftogaz has launched a new natural gas exploration well through subsidiary Ukrgasvydobuvannya with a daily output of 383,000 cubic meters, the company said on Tuesday. Naftogaz produces the lion's share of Ukrainian gas, but its production facilities were severely damaged in a series of Russian missile strikes earlier this year, reducing production by as much as 40%. The company has also signed deals to buy U.S. LNG from Poland's Orlen ( opens new tab, as Ukraine needs to import large volumes of gas ahead of the 2025/26 heating season after Russian shelling left its storage sites almost empty. "Step by step, we're building up domestic production and reinforcing Ukraine's energy resilience," Naftogaz CEO Sergii Koretskyi said in a statement.
Yahoo
04-07-2025
- Business
- Yahoo
Orlen may face nearly $300m bill after arbitration tribunal favoured Gazprom
Polish refiner ORLEN may face a financial impact of nearly $300m following an arbitration tribunal's decision that supports Russia-based Gazprom's right to charge higher retroactive prices for gas supplies, reported Reuters. This development comes amid a series of legal disputes concerning the prices Poland paid for Russian gas from 2017 to 2022. The tribunal's ruling on 1 July adjusted the gas prices under the contract between PGNiG, now part of Orlen, and Gazprom for the years 2018 and onwards, potentially leading to a cost of $290m for Orlen. However, the terms of settlement have not been specified, and no compensation has yet been awarded to Gazprom. Orlen has stated that it operates within legal boundaries and adheres to sanctions that currently prohibit any payments under the judgment. The tribunal is expected to make further rulings on disputes over prices for the years 2021 and 2022. Additionally, it will address claims related to Gazprom's cessation of gas supplies to Poland in 2022. These ongoing legal battles are part of Gazprom's wider confrontations, with claims from European companies totalling at least €17bn ($20.05bn), as per Reuters' calculations. In a separate development, Orlen has signed its fourth contract with Ukraine's Naftogaz this year to supply 140 million cubic metres (mcm) of natural gas, sourced from the US. The gas will be regasified at the LNG terminal in Świnoujście, Poland, before being transported to Ukraine. The previous three contracts included a combined volume of approximately 300mcm of natural gas. The latest contract is a continuation of the commercial cooperation framework signed by Naftogaz and Orlen in March 2025, which focuses on the supply of natural gas LNG. Orlen management board vice-president Robert Soszyński said: "Thanks to our continually developed trading expertise, proprietary fleet of LNG transport vessels and reserved regasification capacities, we are well positioned to support Ukraine in diversifying both the sources and supply routes for natural gas. 'The summer period, which is crucial for replenishing storage facilities, adds to the importance of these deliveries. Our activities align with the European Union's REPowerEU objectives and even surpass them. Orlen not only ceased all Russian gas imports over three years ago, but today we are also in a position to assist neighbouring countries such as Slovakia and Ukraine on their path toward energy independence from Russia.' Earlier this week, Orlen announced the cessation of Russian oil purchases for its refineries, effectively ending its reliance on Russian energy resources. "Orlen may face nearly $300m bill after arbitration tribunal favoured Gazprom" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
26-06-2025
- Business
- Yahoo
Naftogaz wins $1.3bn arbitration against Gazprom
The international arbitration tribunal in Zurich, Switzerland, has ordered Russia's Gazprom to pay $1.37bn (Rbs101.88bn) in unpaid gas transit organisation fees and interest to Ukraine's national oil and gas operator Naftogaz. The final award following international arbitration was received by Naftogaz on 20 June 2025. The international arbitration tribunal determined that Gazprom had breached its contractual obligations to Naftogaz since May 2022 by halting payments, in violation of the "take or pay" principle outlined in the transit agreement between the two parties. Naftogaz commenced the arbitration proceedings against Gazprom in September 2022. Gazprom sought to obstruct the process through the Russian courts but was unsuccessful. The total amount encompasses the principal debt for gas transit services as stipulated in the 2019 agreement, along with penalties, and complete reimbursement for legal expenses incurred by Naftogaz. If Gazprom does not voluntarily comply, Naftogaz intends to initiate asset recovery measures aimed at the Russian company's overseas holdings. Wikborg Rein served as legal advisors to Naftogaz for the arbritation. Naftogaz CEO Sergii Koretskyi stated on social media: 'This is an important victory. I sincerely thank the Naftogaz legal team and our legal advisors at Wikborg Rein for this result. 'Work is already under way to ensure full payment of the amounts due in a step by step manner.' Additionally, Naftogaz is continuing its efforts to enforce a separate $5bn arbitration award against the Russian Federation, which pertains to the unlawful expropriation of its assets in Crimea in 2014. The process is already under way across ten jurisdictions. Initial enforcement actions have produced results in Finland and France, where Russian assets have been confiscated. Proceedings are currently under way in other countries; however, additional details remain confidential due to legal strategy considerations. In April, Naftogaz obtained €410m ($466.4m) in funding for the immediate purchase of one billion cubic metres of natural gas. This financial arrangement, which will be facilitated through the European Bank for Reconstruction and Development (EBRD), includes a €270m loan from the EBRD and a €140m grant from the Norwegian Government via the NORAD fund. "Naftogaz wins $1.3bn arbitration against Gazprom" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
