Naftogaz sees net loss rise to UAH 88.43 bln, or almost 5 times in 2014

Naftogaz Ukrainy in 2014 saw its net loss rise by 4.9 times (by UAH 70.476 billion), to UAH 88.433 billion, according to a company audited report which was formalized in accordance with international financial reporting standards (IFRS).

Total sales revenues for 2014 amounted to UAH 78.444 billion, which is 4.1% (UAH 3.07 billion) more than in 2013.

As reported, according to audited financial statements prepared according in line with IFRS, Naftogaz Ukrainy in 2013 posted a net loss of UAH 17.957 billion.

Naftogaz Ukrainy combines the largest oil and gas companies of the country. It is a monopoly in the transit and storage of natural gas in underground gas storage facilities, as well as oil transportation pipelines across Ukraine.