In 2025, Ukrnafta plans to explore at least 800 square kilometers of acreage using 3D seismic technologies, up from 600 square kilometers explored in 2024.
“In 2024, Ukrnafta explored 600 square kilometers of technological area using 3D seismic technologies. In total, this is eight fields and areas of the company,” the company said in a press release on Wednesday.
The last time the company carried out such operations was more than 10 years ago.
“All the information obtained will form the basis for building digital geological models of the fields and will also become the basis for forming decisions based on artificial intelligence. The built digital models of the fields will allow us to clearly understand where the resource is located and plan new exploration drilling more accurately,” said Sergiy Koretsky, Ukrnafta’s CEO.
According to the company, the field phases of 3D surveys were conducted in difficult conditions: they worked in all seasons, on the highlands and in the lowlands of rivers and wetlands. In particular, the project was implemented in difficult mountainous conditions: for the first time in Ukraine, using a wireless data recording system.
“Ukrnafta is the largest oil company in Ukraine and the operator of the national network of filling stations. In March 2024, the company took over the management of Glusco’s assets and operates a total of 544 filling stations – 461 owned and 83 managed.
Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share. In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state a share of corporate rights of the company owned by private owners, which is currently managed by the Ministry of Defense.
The Ukrainian real estate marketplace DIM.RIA analyzed how the Ukrainian real estate market changed in January. The analytical study includes information on the state of the market of new buildings, as well as the rental and sale of secondary housing.
Primary market
Supply.
In January 2025, 23 new buildings with 38 sections were commissioned in Ukraine. The largest number of facilities was commissioned in the Kyiv region – 7, of which 4 were commissioned directly in the capital. Thus, as of the end of January, there were 763 completed new buildings in Ukraine, with the highest share of completed projects in Odesa (54%), Volyn (48%), Dnipro and Rivne (43% each) regions.
Prices.
In January, the average price per square meter in dollars decreased in only four of the analyzed regions of Ukraine, while in the rest of the regions it increased by 1-8% or remained unchanged. Kyiv remains the most expensive city in the primary market with an average price of $1,351 per square meter. In January, the average price of new housing in the capital remained unchanged, and in a year-on-year comparison, it fell by 5% to $70.
Demand.
DIM.RIA analysts noted a significant revival of interest in primary housing in January among users from all regions. The number of search queries increased most significantly in Ternopil, Ivano-Frankivsk, Volyn and Lviv regions.
Secondary market
Supply.
In January, users added significantly more offers to the secondary housing market compared to December. The number of new offers increased the most in the Zhytomyr, Ternopil and Ivano-Frankivsk regions, roughly doubling. In the city of Kyiv and Kyiv region, the number of offers for sale increased by exactly one and a half times.
Price.
In January 2025, the sale price of a one-bedroom apartment fluctuated within a few percent in most regions, while it mostly increased compared to the data for January 2024. The largest increase was in Zakarpattia region, by 33% over the year. Kyiv remains the most expensive city: in the capital, owners are asking an average of $88 thousand for a one-bedroom apartment (-3% year-on-year).
If we consider the capital in more detail, Pecherskyi district remains the most expensive with the average price of a one-bedroom apartment of $135 thousand, and the lowest amount is indicated by homeowners in Desnianskyi district – $46 thousand.
Demand
In the first month of 2025, users’ interest in secondary housing revived in most regions. The largest difference between the number of responses and the number of ads added in January was noted by experts of the analytical center DIM.RIA in Vinnytsia, Chernivtsi and Ternopil regions: there, demand exceeds supply by 15-19 times. In Kyiv, the ratio of the number of ads to responses is approximately 1:2.
The rental market
Supply.
In the rental market in January compared to December 2024, the number of new housing offers decreased in all analyzed regions.
Price
Kyiv remains the most expensive location for renting an apartment with an average price tag of UAH 17 thousand for a one-bedroom apartment. The cost of housing in the capital remained unchanged over the month, but rose by 3% year-on-year. Over the year, prices also rose in other regions, most actively in Ivano-Frankivsk, Volyn and Chernivtsi regions (an increase of more than 30%).
The capital offers more affordable housing depending on the district. The lowest prices can be found in the Desnianskyi district, with an average of UAH 10,600 for a one-bedroom apartment, while the most expensive is the Pecherskyi district, with an average monthly rent of UAH 22 thousand.
Interest
In January, compared to December, the most active search for rental housing was in Cherkasy and Rivne regions. In the capital, users made 21% more requests over the past month.
The ratio of the number of rental ads to the number of responses to them in January in Kyiv was 1:7. Kirovograd, Zhytomyr and Cherkasy regions were characterized by the highest demand relative to supply.
insurance State enterprise NAEK Energoatom (Kyiv) announced a tender for compulsory insurance of motor civil liability of owners of land vehicles (MTPL) on February 12.
According to the electronic public procurement system Prozorro, the total expected cost is UAH 1.029 million. The deadline for submitting tender documents is February 21.
Ukraine’s economy demonstrates steady but uneven growth amid ongoing challenges caused by the war, inflationary risks, and global instability.
GDP growth
According to the Ministry of Economy, Ukraine’s real GDP increased by 3.1% year-on-year in January-October 2024. The growth rate slowed slightly compared to the first months of the year due to the impact of external economic factors and a decline in exports.
“The Ukrainian economy demonstrates strength and adaptability even in the face of large-scale challenges. However, for sustainable development, it is necessary to continue reforms aimed at improving the investment climate and supporting exports,” said Maksim Urakin, founder of Experts Club.
Inflation
Inflation continues to be one of the key issues. According to the National Bank of Ukraine, annual inflation was 9.1% in October, accelerating from 8.5% in September. The main factors behind the price increase were higher energy prices, hryvnia depreciation and high logistics costs.
“Inflation puts pressure on the consumer spending power of the population. It is important that the government pays more attention to tools to curb price growth, including support for national production and the development of the domestic market,” Urakin emphasized.
Foreign trade
The negative balance of Ukraine’s foreign trade in goods increased by 6.4% over ten months compared to the same period last year and amounted to $22.1 billion. Exports decreased by 4.8%, especially for agricultural products and metallurgy, while imports increased by 3.2%, mainly due to purchases of fuel and industrial equipment.
“Ukraine needs to develop export channels more actively, diversify its sales markets and support its producers. This will help to balance the trade deficit and strengthen its position in international markets,” Urakin added.
State budget and reserves
State budget revenues in January-October amounted to UAH 1.91 trillion, which is 12% higher than in the same period of 2023. However, a significant portion of the revenues was provided by international financial assistance. In October, Ukraine’s international reserves decreased by 6.7% to $37.2 billion, due to the repayment of external liabilities and a decrease in foreign exchange earnings.
Global economic situation
The global economy continues to face uncertainty caused by high interest rates, geopolitical conflicts, and the weakening of key economies.
According to the International Monetary Fund, global GDP will grow by 3.0% in 2024, which is in line with forecasts but below the average of recent decades.
USA – the economy grew by 2.5%, supported by high domestic consumption and investment.
Eurozone – growth was 0.8%, due to the recession in Germany and a slowdown in industrial production.
China – GDP grew by 4.6%, but the economy is facing problems in the real estate sector and a decline in exports.
India – remains one of the leaders of growth, showing a 6.9% economic recovery.
“The global economy is balancing between recovery and new challenges. In the coming months, geopolitical instability, energy price fluctuations and financial constraints due to high interest rates will remain the main risks,” – Mr. Urakin noted.
Global trends:
1. Financial markets remain volatile as central banks in leading countries are in no hurry to cut rates.
2. The energy crisis in Europe continues to put pressure on the economy.
3. Rising commodity prices, including oil and gas, are affecting inflationary processes around the world.
Ukraine’s economy has shown moderate growth in the first ten months of 2024, but faces challenges in the form of inflation, trade imbalance, and pressure on the state budget. The global economy remains exposed to risks associated with the high cost of borrowed funds and the slowdown in key countries.
“It is important for Ukraine to continue reforms aimed at supporting business and attracting investment. This is the only way to ensure long-term economic stability and create a solid foundation for future growth,” – summarized Maksim Urakin.
In 2024, Nikopol Ferroalloy Plant (NFP, Dnipro region) reduced its output by 2.38 times compared to 2023, to 81.35 thousand tons from 193.77 thousand tons.
The Ukrainian Ferroalloy Producers Association (UkrFA) toldInterfax-Ukraine that in 2024, the plant reduced silicomanganese production by 2.29 times to 81.07 thousand tons from 185.51 thousand tons, and did not produce ferromanganese (5.32 thousand tons in 2023). Other ferroalloys were produced in the amount of 0.28 thousand tons (2.94 thousand tons, respectively).
As reported, Pokrovsky Mining and Processing Plant (PGOK, formerly Ordzhonikidze Mining and Processing Plant) and Marganetsky Mining and Processing Plant (MGOK, both in Dnipropetrovska oblast), both part of Privat Group, stopped mining and processing crude manganese ore in late October and early November 2023, while NGOK and Zaporizhzhya Ferroalloy Plant (ZZP) suspended production. Later, the ferroalloy companies resumed operations at a minimum level of production.
In particular, ZZF has been operating two furnaces at 7% capacity since May 1, 2024, and NFP has also been operating since the end of June last year.
The average monthly output of ferroalloys in stable operation is about 55-60 thousand tons.
NFP is Ukraine’s largest silico- and ferromanganese producer. It uses imported and domestic raw materials to produce ferroalloys.
NFP is controlled by the EastOne Group, created in the fall of 2007 as a result of the restructuring of the Interpipe Group, and the Privat Group (both based in Dnipro).
Metinvest Group’s Central, Ingulets and Northern Mining and Processing Plants (MPPs), which were transformed into United Mining and Processing Plant (UMPP), paid UAH 5.7 billion in taxes in 2024.
According to the company’s press release on Wednesday, in 2023, YuGOK, Central GOK and InGOK transferred UAH 2.2 billion to the state and municipal budgets.
“Thus, mining and processing enterprises remain a reliable pillar of Ukraine even during the war,” the press service states.
It is specified that in 2024, the main source of budget revenues was the tax on the use of subsoil, which amounted to UAH 2.7 billion. A significant share of deductions is accounted for by a single social contribution (UAH 673 million) and personal income tax (UAH 595 million). The environmental tax and land fees also contribute to the state and local budgets.
“It is the mining and metals companies that are the largest taxpayers and support the Ukrainian economy despite the war and challenges. These funds are needed for the social sector – healthcare, education, and most importantly, they support Ukraine’s defense capability. Metinvest’s Kryvyi Rih GOKs also remain one of the main employers in the region, providing jobs for thousands of specialists, including veterans returning from the war,” said Igor Tonev, CEO of Metinvest’s United GOKs.
As a reminder, Metinvest Group, including its associates and joint ventures, increased its payment of taxes and fees to budgets of all levels by 36% in 2024 to UAH 19.8 billion compared to 2023.
As reported earlier, Metinvest has implemented a new model for the operation of its Kryvyi Rih mining and processing enterprises, bringing together mining and processing plants in Kryvyi Rih under a single management.
In 2023, the Group’s Kryvyi Rih enterprises paid a total of UAH 4.6 billion in taxes and fees to the budgets of all levels.
“Metinvest comprises mining and metallurgical enterprises located in Ukraine, Europe and the United States. Its major shareholders are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it.
Metinvest Holding LLC is the management company of Metinvest Group.
