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Govt mulls urgent steps as Naftogaz faces $1.6 bln in losses in 2006
Journal Staff Report

KIEV, Aug. 17 – Naftogaz Ukrayiny, the national oil and gas company, faces $1.6 billion in losses this year forcing the government to draft legislation aimed at saving the company from insolvency, an official said.

The disclosed expected losses exceed by 60% a financial gap of $1 billion reported on July 5 suggesting the company’s financial position has been rapidly deteriorating.




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