Naftogaz buys controlling stake in Nadra Yuzivska

NJSC Naftogaz Ukrainy has acquired over 50% in the charter capital of Nadra Yuzivska LLC owned by NJSC Nadra Ukrainy, the Antimonopoly Committee of Ukraine (AMCU) has said in a statement.

In this regard, the committee began consideration of the concentration case, within the framework of which Naftogaz will be able to produce fossil fuel in the Yuzivska field.

"The information available in the materials of the statement gives reason to believe that the specified concentration is a vertical integration of a business entity engaged in the extraction of raw materials (oil and gas), production and sale of finished products… Naftogaz has the opportunity to strengthen its market power by increasing the volume of its own production of natural gas and oil, which can lead to a significant restriction of competition in the gas and oil markets," the committee said in the statement.

In this regard, the committee began collecting information that may affect its decision on concentration.

Source: www.en.interfax.com.ua