Official government-approved Naftogaz plan for 2021

The following Naftogaz plan for 2021 has been officially confirmed.

The following Naftogaz plan for 2021 has been officially confirmed (Cabinet of Ministers doc. No. 1011 of September 27, 2021).

In accordance with Organization for Economic Cooperation and Development (OECD) guidelines on corporate governance in state-owned companies, the state should be the “active owner”. This means that the state should transparently determine the activities of state-owned companies, promptly reacting to results and changing circumstances. This makes it possible for the company's management to more effectively organize its activities in the appropriate areas.

The Law of Ukraine on Joint Stock Companies contains provisions assuring the exclusive competence of the General Meeting.

The Company welcomes the approval by the Government of the main directions of the Company's activities for 2021 in addition to the main directions for the long term, which were defined in the Company's ownership policy, approved by the Resolution of the Cabinet of Ministers on October 21, 2020 (No. 982).

Please note that in accordance with international best practices, the “ownership policy” determines the purpose of state ownership of the company, explaining to the public why the state believes that the company should be kept in state ownership. At the same time, the "Main Directions" should be specific directives for management, the observance of which should be monitored by the supervisory board.

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