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Ukraine expects to triple investment in oil and gas next year

Ukraine expects to invest €1 billion ($1.32 billion) in its oil and natural-gas industry this year and to triple that next year, the country's fuel and energy minister said.

The country expects to get $600 million from the European Bank for Reconstruction and Development, another $600 million from banks and investors in Ukraine, and $200 million come from oil and gas companies operating in Ukraine, the minister, Yuriy Boyko, said yesterday at a conference in London. „In order to switch to a more efficient economy, the government launched an ambitious investment program in the energy sector,” Boyko said. „In recent years, annual invest in the sector rarely exceeded hundreds of million of dollars.” (Bloomberg)