Ukraine's oil and gas monopoly, NJSC Naftogaz of Ukraine, has finished nine months of 2011 with a profit of UAH 17.19 billion (USD 1 - UAH 7.98), the press office of the company said in a statement Friday, according to UKRINFORM.

"According to the financial statements prepared under Ukrainian accounting standards, net profit of the National Joint-Stock Company Naftogaz of Ukraine after the three quarters of 2011 is about UAH 17.19 billion. The company's net income from sales this period was UAH 75.13 billion," the statement reads.

Due to rising prices for imported natural gas, the financial burden on the company is constantly increasing, the press office stressed. However, Naftogaz of Ukraine remains a financially balanced company and in a timely manner settles accounts on its internal and external commitments, says the report.

Naftogaz has reduced gas production in the first ten months of 2011 compared with the corresponding period of 2010 by 1.8% to 15.018 billion cubic meters.

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