Naftogaz warns on "misleading statements"

14:45, 21 May 2009
Ukraine
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Says it could compromise its reputation

Ukraine`s Naftogaz, which is due to repay a $500 million Eurobond in September, warned on Thursday that misleading statements about its financial situation could compromise its relationship with Western investors, Reuters reported.

President Viktor Yushchenko has repeatedly cast doubt over the finances of the state energy firm that imports Russian gas for Ukrainian consumers.

The company said it had made gross profit in the first quarter of $420 million against loss of $120 million in the same quarter last year.

Reuters

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