Naftogaz Hails Ukrainian Companies’ Payments and Decreased Arrears

Naftogaz’s debtors transferred money to the oil and gas company of Ukraine, in a moment the country is trying to increase transparency across several sectors.  

Companies in the heating and power sectors, along with industrial consumers, owe 20.7 billion UAH to Naftogaz as of October 20, signalling a 1.2% decrease with respect to the previous week.  

The company reported in a note that the majority of debtors are falling in the heating sector, which represents around 71% of total arrears. 

Also on Tuesday, KyivPost wrote that Ukraine maintains gas pumping to underground storage facilities at over 80 million cubic meters a day.

Meanwhile, Kiev explained that it is working to promote transparency, also in the construction industry. 

‘On Tuesday, October 20, there was signed a tripartite Memorandum on implementation in Ukraine of an international Construction Sector Transparency Initiative (CoST) to increase transparency in the construction industry’ reads a note released by the government. 

Last week, the Cabinet of Ministers of Ukraine approved Naftogaz' governance reform plan facilitated by the European Bank for Reconstruction and Development (EBRD), which will introduce an independent supervisory board with ‘wide authority and responsibility.’