Ukrainian News Agency reported that the Naftohaz Ukrainy national oil and gas company finished the October-December 2010 period with losses of UAH 22,111.555 million.

In the fourth quarter of 2010, Naftohaz Ukrainy increased its net revenues by 40.1% or UAH 9,032.107 million to UAH 31,575.3 million, as compared with the correspondent period of 2009.

Naftohaz Ukrainy finished 2010 with losses of UAH 21,431.345 million, having increased its net revenues by 21.5% or UAH 16,140.335 million to UAH 91,258.096 million, comparing with 2009.

At the same time, in accounting reporting posted as of results of 2009 in April 2010, the company showed a net profit of UAH 2,267.795 million for the year 2009, and in accounting reporting, published on March 12, 2011 - net revenues of UAH 1,258.645 million.

Naftohaz Ukrainy is the monopoly transporter of natural gas via transit pipelines and crude oil via oil pipelines in Ukraine. It is also a major extractor and seller of natural gas and a major extractor of crude oil in Ukraine.

(Sourced from Ukrainian News Agency)