Energy Ministry to nominate western CEO to run Ukrnafta at Friday AGM

Yesterday Ukrainian Energy Minister Yuriy Boyko said the government planned to nominate a candidate for CEO of Ukrnafta (UX: UNAF UK) at the AGM scheduled for this Friday, February 25, 2011, according to media reports. The undisclosed candidate is an independent manager from the west, who is supposed to represent the interests of both large shareholders, the state (50%+1) and Privat Group (42%). The appointment of the new CEO is in line with the government’s previously announcement of plans to create a vertically integrated oil company on the basis of Ukrnafta and oil refiner Ukrtatnafta.