Interfax reported that Mr Mykola Azarov Ukrainian Prime Minister has met with the board chairman of PJSC Ukrnafta Mr Peter Vanhecke country largest oil extracting company.

According to a photo report from the meeting posted on the official Web site of the Ukrainian government, Minister of Energy and Coal Industry of Ukraine Mr Yuriy Boiko also attended the meeting.

As per report, Mr Azarov demanded the Ukrnafta immediately stabilize the situation and start developing and increasing oil production. He said that "We are not happy with any plans to reduce oil production. We need stabilization. Ukrnafta needs in the next two or three years to use all of its available resources for development."

The posting reads, with reference to the prime minister, that to achieve good results Ukrnafta needs to develop certain measures to increase oil production.

The premier said "Both the government and the energy minister will facilitate this."

(Sourced from Interfax)