On April 28 , the Ukrainian government held a meeting to address the issue of ‘Naftogaz’ financial challenges.

“The general meeting of stakeholders considered the work of Naftogaz Advisory Board and its Head management in 2020 unsatisfactory,” said the statement on its website.

The key state company Naftogaz previously reported 19 billion hryvnas losses in 2020 whereas against the earlier government forecast of 11,5 billion hryvnas profit, according to the government report.

Citing the poor figures,  the government announced  of CEO Andriy Kobolev dismissal.

With Kobolev stepping down as a Naftogaz top manager, the Ukrainian government brought in new top management  announcing  that “on April 29, 2021, Yuriy Vitrenko was appointed  a chair of National Joint Stock Company Naftogaz”.

The governmental officials expect that “Naftogaz’ under Yuriy Vitrenko will help boost Ukraine gas production and contribute to making a domestic gas market ‘full-scale and fair’.