Ukrnafta Postpones Decision On Drilling In Western Ukraine

Yesterday, Ukrnafta’s (UNAF: HOLD) supervisory board postponed a decision on whether to stop production at three unprofitable oil fields in Western Ukraine (Ivano-Frankivsk, Lviv and Chernivtsi regions) for a week until March 20. Meanwhile, the supervisory board moved to stop production of oil and condensate from its fields in Western Ukraine because of an increase in royalty payments in 2007, as previously reported.