Zlochevskyi Proves His Innocence in Courts, Burisma Group Continues to Produce Gas for Ukraine – expert reports

October 12, 2016

Olexandr Sirenko, a UPECO analyst and the editor-in-chief of “NefteRynok”, commented on his Facebook page on removal of Nikolay Zlochevskyi (owner of Burisma Group, the leading Ukrainian private gas-producer) from the wanted list.

The expert links the “pressure” to political persecution and complete disregard of professional activity.

“The coercive pressure on private companies followed by freezing the company accounts sounds to me like a pure use of power in order to get dividends for themselves/ the party. It’s a pity that so much time has been lost.

Fresh news: one of the largest private gas producers was proven not guilty by both Ukrainian and British courts in cases involving commercial activities of the company. Burisma, owned by Nikolay Zlochevskyi, dismissed the charges filed by the Prosecutor General’s Office through the courts.

And what did you expect? He was acquitted by the English court, the US is ok with everything, while the company continues to drill and transfer billions to the State budget. I wish everyone who is now in the government worked and paid this well.

What does it mean and what is obscured from the politicized public? Apart from gas extraction, Zlochevskyi owns a service company. He is pretty much the only businessman in Ukraine that over the past two years, despite the industry crisis, acquired a modern fleet of equipment. Trust me, the American drilling rigs are no worse than the ones owned by UkrGasVydobuvannya featured on Facebook. Now, when the proceedings are over, all this machinery will start “buzzing” on a few gas fields, supplying the country with real gas. Follow the statistics, soon private companies will reach 12 million cubic meters per day”, noted Sirenko in his Facebook post.

According to Sirenko, the Ukrainian society is used to thinking of oligarchs as of bad guys. It is primarily convenient for politicians that are constantly trying to “identify” an enemy and make it seem like a whole army is tirelessly fighting against it. “This is what happened to gas-producers after the last revolution: endless inspections and charges in the past two years made it a complete nightmare for the key market players. Thank God, they managed to defend themselves from the main raider – Arseniy Yatsenyuk – that “struck” the companies with an expensive rent. Although, we still have to deal with the consequences. And only this year the key players resume their drilling programs that will yield results in the future” – Sirenko said.