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Summary | Profile

Country profile: Ukraine

Location: Eastern Europe, bordering the Black Sea, between Poland, Romania, and Moldova in the west and Russia in the east
Climate: temperate continental; Mediterranean only on the southern Crimean coast; precipitation disproportionately distributed, highest in west and north, lesser in east and southeast; winters vary from cool along the Black Sea to cold farther inland
Terrain: most of Ukraine consists of fertile plains (steppes) and plateaus, mountains being found only in the west (the Carpathians), and in the Crimean Peninsula in the extreme south
Size: 603700 sq. km total (Land area: 603700 sq. km )
Population: 45,994,287 (July 2008 est.)
Languages: Ukrainian (official) 67%, Russian 24%, other 9% (includes small Romanian-, Polish-, and Hungarian-speaking minorities)
Government: republic
Capital city: Kyiv (Kiev)
Legal system: based on civil law system; judicial review of legislative acts; has not accepted compulsory ICJ jurisdiction
Currency: hryvnia (UAH)

Country profile

Ukraine's geographic position, linking East and West, while also holding critical warm water ports on the Black Sea, has made the country a trade link of growing importance between the former Soviet Union and Europe for energy and other goods. Ukraine is one of Europe’s largest energy consumers, and it consumes over twice as much energy per unit of GDP than Germany.

In 2005, almost half of Ukraine’s energy consumption came from natural gas, and over 75 percent of this natural gas came from Russia. Since 2004, the price of imported natural gas from Russia has almost doubled. The economic impact of these price increases on the economy will depend on the pace at which Ukraine can implement energy efficiency reforms. For a more in-depth discussion of the recent increases in natural gas prices and energy efficiency reform in Ukraine, please consult a February 2007 IMF

Energy production and consumption

Oil Gas
Production: 90,400 bbl/day (2006) 20 billion cu m (2006 est.)
Consumption: 284,600 bbl/day (2006) 73 billion cu m (2006 est.)
Exports: 214,600 bbl/day (2006) 4 billion cu m (2006 est.)
Imports: 469,600 bbl/day (2006) 57 billion cu m (2006 est.)
Reserves: 395 million bbl (1 January 2006 est.) 1 trillion cu m (1 January 2006 est.)
Major fields:

Ukraine - recent news

26 Apr 23
UK: OEUK event to explore how capturing carbon is critical in fight against climate change
The leading body for the offshore energy industry, OEUK, is set to hold its first ever breakfast briefing next week, sponsored by Deloitte, that will focus on carbon capture, usage and storage (CCUS) – a key tool in the UK’s fight against climate change.
04 Jan 23
Ukraine: Enwell Energy notes new natural resources legislation in Ukraine
AIM-listed Enwell Energy notes that new legislation relating to the natural resources sector has been enacted in Ukraine, which may adversely affect the Company's hydrocarbon extraction licences in Ukraine.
20 Dec 22
Ukraine: Enwell Energy spuds GOL-107 well
Enwell Energy has announced the spudding of the GOL-107 development well at its Mekhediviska-Golotvshinska (MEX-GOL) gas and condensate field in Ukraine.
14 Dec 22
Ukraine: API signs new agreement to support critical energy sector in Ukraine
The American Petroleum Institute and the State Enterprise 'Ukrainian Scientific Center for Standardization, Certification and Quality Problems' (SE 'UkrNDNC') have signed a Memorandum of Understanding (MOU) to promote the adoption of API natural gas and oil standards and closer cooperation across a range of training and safety activities. 
04 Nov 22
Ukraine: Enwell Energy provides update on legal challenge to validity of SC Licence in Ukraine
Enwell Energy, the AIM-quoted oil and gas exploration and production group, has provided an update regarding further Ukrainian legal proceedings in respect of its Svystunivsko-Chervonolutskyi exploration licence in Ukraine, which is held by Arkona Gas-Energy, which was acquired by Enwell in March 2020.

Ukraine - more news

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