Policy & Regulation

Ukraine must clean up its act to attract Western players

Kiev needs to break the stranglehold of Ukraine’s oligarchs if it wants companies to invest in the country Kiev needs to break the stranglehold of Ukraine’s oligarchs if it wants companies to invest in the country.
By The Wildcat 2 October 2017 0 27797
Ukrainian president Petro Poroshenko President Petro Poroshenko addresses parliament. (Ukraine President’s Office)

Ukraine needs to find a way to curb the power of its oligarchs before presenting itself as a suitable destination for Western explorers. 

Speaking at the European Gas Summit in Rotterdam on Wednesday, Yuriy Vitrenko, chief commercial officer of Ukraine’s state oil and gas player Naftogaz Ukrainy, restated the country’s intention to increase domestic gas production from its current level of 20 billion cubic metres per year to 27 bcm/y by 2020.

Naftogaz wants to see the additional 7 bcm coming from private – preferably...