The head of Naftogaz, Yuriy Vitrenko, said he wants to make the most of the oil potential of Ukraine
Naftogaz will start increasing oil production in Ukraine / Photo: Collage: Today
The national company Naftogaz of Ukraine, which also owns a controlling stake in the oil producing company Ukrnafta, intends to increase oil production.
This was stated by the head of the board of “Naftogaz” Yuriy Vitrenko at a conference on Tuesday, reports “Interfax-Ukraine”.
According to Vitrenko, he is going to increase oil production in significant volumes. Also, the head of the board said that Ukraine has a certain potential in this.
“We want to use the capabilities of the national company in order to use the oil potential or oil production potential that exists in Ukraine more efficiently,” Vitrenko said.
On October 18, prices for November oil futures broke a multi-year record. Brent crude futures are up 1% at $ 85.73 per barrel, the highest since October 2018.
American WTI oil also rose in price. The cost per barrel is $ 83.40 and is the highest since October 2014.
Earlier, Segodnya, together with experts, figured out why the prices for energy resources are so rapidly growing and what awaits the oil market next.
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