Naftogaz of Ukraine, one of Europe’s largest vertically integrated oil and gas companies, has published today its first detailed annual report in English. 

Contents of the annual report

The actual results of Naftogaz in 2014 are only a small portion of what is discussed in the report. The document explains in detail the development strategy the management has chosen for Naftogaz, as well as the company’s changing role in the overall context of the gas market reform in Ukraine.

The document also contains concise descriptions of the Group’s key markets (upstream, transmission and supply of gas and oil) and explains Naftogaz place and role in each of these markets.

In this report, the management also presents an analysis of the corporate governance system of Naftogaz, addresses the issue of gas pricing for households in detail, discusses the recent changes in Naftogaz human resources policy, the Group’s new transparency and disclosure policy, its social initiatives, its responsibilities to consumers in Ukraine and abroad, as well as its strong commitment to follow the highest standards of industrial and environmental safety.

The last section of the report includes consolidated financial statements of Naftogaz for 2014. They were audited by Deloitte and are accompanied by a detailed management discussion and analysis.