Naftogaz’ Egypt operations see profits this year for the first time since 2007

Ukraine’s Naftogaz reported that its oil and gas operations have seen a profit for the first time since 2007. “This year we've received a net cash surplus of USD 5 mn. Prior to that, our losses were estimated at USD 20-30 mn every year," Naftogaz Chief Commercial Officer Yuriy Vitrenko, according to UNIAN. The announcement comes just as the company looks into selling its assets in Egypt. The company hired France’s Lazard to advise on the possible sale of Egypt assets back in August.