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Naftogaz Oil Trading opposes ARMA, says it effectively manages GLUSCO gas stations

The day before, ARMA reported the termination of the contract with the company. 

Naftogaz Oil Trading opposes ARMA, says it effectively manages GLUSCO gas stations

Naftogaz Oil Trading LLC stated that it effectively and transparently manages the GLUSCO filling station network in response to ARMA's decision to terminate the contract with it.

Volodymyr Bychkov, the company's director, noted that the company is preparing an appeal to the Cabinet of Ministers regarding the illegality of the Agency's termination of asset management agreements. In the meantime, it will continue to fulfill these agreements until the disputes are resolved.

Naftogaz Oil Trading notes that it has been submitting monthly reports to ARMA on the fulfillment of management agreements, and the Agency has been checking the documents and has not commented on the provision of inaccurate data.

On 3 August, ARMA stated that it was terminating contracts with the manager of GLUSCO gas stations, Naftogaz Oil Trading LLC. According to the results of audits, the agency found facts of systematic provision of inaccurate information on income from asset management.

The court arrested the gas station chain last year in May, the reason for this decision was the chain's alleged connection with Russia. GLUSCO was transferred to the management of the ARMA. Then the Agency, with the approval of the Cabinet of Ministers, appointed Naftogaz Oil Trading as the manager of the seized assets.

Now the company claims to have resumed commercial operations of the filling station and brought the network to stable operation during massive power outages. 

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