Ukraine's top oil producer, Ukrnafta, boosted net profits sevenfold in 2010 de- spite declining production as a shareholder- cooperation agreement improved the com- pany's performance. Ukrnafta recorded net income of 2.646 billion hryvnia ($333 million) last year, compared to just 379 million hryvnia in 2009, according to information released ahead of a shareholder meeting planned for Feb. 25. The Ukrainian government holds 50% plus one share in Ukrnafta through state concern Naftogaz Ukrainy, while some 42% is controlled by powerful business group Privat.
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