It is reported that Ukrnafta a major Ukrainian oil and gas producer had raised the starting price of the crude oil to be auctioned on the UICE on December 21 up to UAH 4,820 per tonne. It is 9.3% higher than the price offered at the previous auction.

According to Millennium Capital analyst “We consider the news as POSITIVE for UNAF as the company may earn an additional UAH 72.4 million if it sells off the entire amount of the crude oil put up for sale through the action.”

(Sourced from Millennium Capital)