Interfax reported that Ukrainian national oil and gas company Naftogaz Ukrainy had net losses totaling UAH 1.901 billion in January to September 2009 under Ukrainian accounting standards compared with a profit of RUB 2.145 billion in the same period last year.

Net revenue in the nine months rose 54.1% to UAH 52.551 billion Gross profits in the period was UAH 6.043 billion compared with a gross loss of UAH 351.24 million. Operating profit rose 71.3% to UAH 8.518 billion. The pretax profit fell 10.9% to 4.657 billion.

Naftogaz posted a net profit of UAH 86.06 million in the Q3 compared with a net loss of UAH 866.71 million in the same quarter last year. Net revenue fell 3.5% to UAH 11.253 billion, gross profit rose almost 12 fold to UAH 1.973 billion. Operating profit totaled UAH 1.293 billion compared with an operating loss of UAH 76.08 million in the Q3 last year.

Naftogaz had an unconsolidated net profit of UAH 11.652 billion in 2008 under UAS compared with a net loss of UAH 12.083 billion in 2007.

Naftogaz Ukrainy includes Ukraine's biggest oil and gas production enterprises and is the monopoly for transit and storage of natural gas and for oil transportation on Ukraine's pipeline network.

(Sourced from Interfax)