Economics

For the second consecutive month, Ukraine is seeing a growth of coal reserves in the warehouses of thermal power plants and combined heating power plants. That’s according to Energy Minister German Galushchenko, who spoke at a briefing on Tuesday, an Ukrinform correspondent reports. "For the second month in a row, we see a steady accumulation of coal in warehouses. If we compare the same date in December, there was 518,000 tonnes in warehouses, while today there’s 714,000 tonnes," Galushchenko said. Read also: Two projects on transformation of coal regions to be implemented this yearAccording to the minister, the positive dynamics…

An industrial park with five chemical industry facilities and a waste sorting line will be set up in Kharkiv region. “The Valky Town Council initiates the creation of the ‘Land and Water’ industrial park with a total area of ​​23 ha. To this end, an investment project to build a waste sorting line and plants for the production of biogas, methanol, biodiesel, acetic acid with an estimated cost of more than $30 million was drafted,” Petro Lashyn, director of the Economy and International Relations Department of the Kharkiv Regional State Administration, announced during the Administration’s meeting on January 10, an…

In 2021, Ukraine’s major exports were metallurgical and agricultural products. "In 2021, metallurgy and agricultural products were Ukraine’s major exports, and most domestic industries showed a significant increase compared to 2020," the press service of the Ministry of Economy informs. Last year, exports of base metals and articles thereof totaled $ 15.98 billion (up 77% compared to 2020); plant products – $15.55 billion (up 30.9%); mineral products – $8.42 billion (up 58%); animal, vegetable fats and oils – $7.05 billion (up 22.6%); equipment, machinery and mechanisms – $4.82 billion (up 7.4%). Moreover, exports of finished food products (totaling $3.8 billion,…

Since the beginning of the 2021/2022 marketing year, Ukraine has exported 33.527 thousand tonnes of cereal crops, showing an increase of 6.324 thousand tonnes compared to the same period in the previous marketing year. As the Ministry of Agrarian Policy and Food of Ukraine informs, Ukraine has already exported: 16.110 thousand tonnes of wheat, 5.281 thousand tonnes of barley, 121.5 thousand tonnes of rye, and 11.772 thousand tonnes of corn. In addition, Ukraine has exported 60.1 thousand tonnes of wheat and non-wheat flour, showing a decrease of 21.4 thousand tonnes compared to the same period in the previous marketing year.…

In 2021, the Naftogaz Group commissioned 50 new wells at gas fields. "In 2021, our specialists commissioned 50 new wells (in 2020 – 41 wells were commissioned), including: 11 wells with a production rate of more than 100,000 cubic meters of gas per day and three wells with a production rate of more than 250,000 cubic meters of gas per day," Naftogaz posted on Facebook. In late 2021, a high-rate well opened a new Mospanivske field in Kharkiv region. To date, it already produces more than 200,000 cubic meters of gas per day. In addition, in December 2021, Ukrburgaz drilled…

The Office of the Prosecutor General together with the Shevchenkivskyi Court of Kyiv has blocked funds in the accounts of ArcelorMittal Kryvyi Rih. This was reported by the company's press service, Ukrinform wrote. “Prosecutors ordered Ukrainian banks to halt all transactions in these accounts based on November 30, 2021 court ruling,” the report wrote. The move is related to “the way the company calculates tax payments for the use of subsoil for mining,” the press service explained. Read also: Another UAH 500M allocated for coal miners’ salariesThe company further elaborated that on November 4, 2021, the district administrative court upheld…

In 2021, exports of Ukrainian goods reached a record $68.24 billion, the highest figure since 2012. As the press service of the Ministry of Economy informs, Ukraine had similar figures in 2011 ($68.39 billion) and in 2012 ($68.81 billion). “Such export results are of great importance for the budget of Ukraine. When Ukrainian producers sell their goods abroad, we receive an inflow of foreign currency, which allows us to finance import costs without destabilizing the foreign exchange market and accumulate international reserves to strengthen the stability of the economy. Moreover, additional export proceeds increase budget revenues and, consequently, opportunities for…

The launch of projects on the transformation of coal regions in Chervonohrad (Lviv region) and Myrnohrad (Donetsk region) is planned this year. "The projects launched in the coal industry are important and will be implemented this year. These are projects on the transformation of coal regions. Two projects on fair transformation in Chervonohrad and Myrnohrad have been prepared for launch," Energy Minister of Ukraine German Galushchenko said at a briefing, an Ukrinform correspondent reports. According to the minister, the projects will be implemented with the support of the European Bank for Reconstruction and Development, as well as the governments of…