A Naftogaz employee turns a valve at the Shebelynske gas field in Kharkiv Oblast on June 25, 2020. State gas giant Naftogaz lost $684 million in 2020, according to its financial report published on April 27. Next day after the report was out, on April 28, the Cabinet of Ministers appointed acting energy minister Yuriy Vitrenko as the new CEO of Naftogaz, replacing Andriy Kobolyev.

In a surprisingly swift move, the government installed acting energy minister Yuriy Vitrenko as the new CEO of state-owned oil and gas company Naftogaz on April 28, according to Ukraine’s Cabinet of Ministers.

Vitrenko’s appointment came as a surprise for Naftogaz head Andriy Kobolyev, who learned about his firing from the media. Kobolyev criticized the government’s decision, claiming it ignores all corporate governance reforms in Ukraine.

Source: www.kyivpost.com

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