KIEV, Ukraine, March 11 (UPI) -- Naftogaz of Ukraine saw declines of more than 8 percent in natural gas mining and 10 percent for extraction of oil with condensate, the government said.
Naftogaz, the government said, reduced natural gas mining during January and February by 8.4 percent compared with the same months in 2009. Extraction of oil with condensate fell by 10.1 percent for the same reporting period, the National News Agency of Ukraine reports Thursday.
Naftogaz came under fire in 2009 when a row with Russian energy giant Gazprom forced gas supply disruptions to Ukraine.
The national joint stock company limped through the recession that gripped world markets in 2009, struggling each month to meet its debt obligations to Gazprom.
Kiev in December was forced to turn to the International Monetary Fund for help with meeting its gas debts. Oleg Dubina, the chief executive of the company, handed his letter of resignation to the Ukrainian Cabinet last week.
Kiev in December said the company was "in fact bankrupt" and European leaders called on the Ukrainian government that the European Union needed "urgent progress on modernization and restructuring of the (Ukrainian) gas sector."
Source: http://www.upi.com/Naftogaz-of-Ukraine-production-drops
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