Business news from Ukraine

Business news from Ukraine

UKRNAFTA has opened gas stations as points of resilience in Odesa and Mykolaiv

UKRNAFTA, the largest gas station chain in Ukraine, is supporting residents of Odesa, Mykolaiv, and the Odesa and Mykolaiv regions who have been affected by Russian shelling of energy infrastructure.

The company’s gas stations are open to anyone who needs heat, light, or a place to recharge their devices.

All UKRNAFTA gas stations are operating on backup power from generators, and 30 gas stations in the regions are functioning as points of resilience.

For all visitors, the network in the affected regions offers a 50% discount on coffee, hot dogs, burgers, and sandwiches at UKRNAFTA gas stations.

Coffee is free for services working to restore energy, heat, and water supply in the regions.

The addresses of the nearest gas stations and points of resilience are available in the UKRNAFTA app.

JSC Ukrnafta is Ukraine’s largest oil production company and operates the largest national gas station network, UKRNAFTA. In 2024, the company entered into an asset management agreement with Glusco. In 2025, it completed a deal with Shell Overseas Investments BV to purchase the Shell network in Ukraine. It operates a total of 663 gas stations.

The company is implementing a comprehensive program to restore operations and upgrade the format of its network of gas stations. Since February 2023, it has been issuing its own fuel vouchers and NAFTAKarta cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.

The largest shareholder of Ukrnafta 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 the corporate rights of the company that belonged to private owners, which is now managed by the Ministry of Defense.

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Ukraine reduced manganese ore exports by 61% in 11 months

In January-November this year, Ukraine reduced manganese ore exports by 60.8% compared to the same period last year, to 17,592 thousand tons, but in August-November, it stepped up deliveries.

According to statistics released by the State Customs Service (SCS) on Friday, while deliveries in the first seven months of 2025 amounted to 2,977 thousand tons, exports more than doubled in August, when 5,037 thousand tons were exported, 1,725 thousand tons in September, 3,993 thousand tons in October, and 3,860 thousand tons in November.

In monetary terms, exports for the 11 months of 2025 fell by 56.7% compared to the same period in 2024, to $2.843 million. At the same time, the main exports were to Slovakia (99.02% of shipments in monetary terms) and Poland (0.98%).

During this period, the country imported 37,006 thousand tons worth $5.546 million from Ghana, with all deliveries taking place in November. In the first 11 months of 2024, 84,275 thousand tons of ore worth $18.212 million were imported.

As reported, in January 2024, Ukraine exported 44,903 tons of manganese ore worth $6.563 million to the US, ending a two-year hiatus in exports to foreign markets. In February-December 2024, there were no exports of manganese ore.

At the same time, for the whole of 2024, the country imported 84,293 thousand tons worth $18.302 million from Ghana (98.85%), Brazil (0.99%), and Belgium (0.11%). There were no imports in October-November.

Ukraine did not export manganese ore in 2022 and 2023, and in 2021, it exported 770 tons worth $89 thousand.

In addition, it was reported that the Pokrovsky Mining and Processing Plant (PGZK, formerly Ordzhonikidze Mining and Processing Plant) and the Marganetsky Mining and Processing Plant (MGZK, both in Dnipropetrovsk region), which are part of the Privat Group, stopped mining and processing raw manganese ore in late October-early November 2023, while NZF and ZZF stopped smelting ferroalloys. In the summer of 2024, ferroalloy plants resumed production.

PGZK and MGZK did not produce any products in 2024, while in 2023, PGZK produced 160.31 thousand tons of manganese concentrate, and MGZK was idle.

In Ukraine, manganese ore is mined and enriched by the Pokrovsky and Marganetsky mining and enrichment plants.

The consumers of manganese ore are ferroalloy enterprises.

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KNUSA student architects triumph at Steel Freedom 2025

Rauta has announced that a student team from Kyiv National University of Civil Engineering and Architecture (KNUSA) has won the Steel Freedom 2025 architectural competition with a project using Ruukki’s Primo Skyline 150 metal facade cassettes.

According to the company, KNUSA students successfully combined large-format facade cassettes Primo Skyline 150 with open metal structures of red color, which became the compositional center of the building. The Steel Freedom 2025 finals took place on November 29, and the best student teams from specialized universities of Ukraine took part in it.

The winning team under the number 918, which included KNUSA students, was also awarded in special nominations from Archimatika, AVG Group and “Intergal-Bud”, as well as took a prize in the rating of the international bureau MVRDV, as noted in the materials of the organizers of the competition.

Rauta emphasized that the use of premium ventilated facades Ruukki Primo Skyline with high geometry accuracy and the possibility of perforation opens up additional opportunities for young architects when designing modern energy-efficient buildings.

Rauta is the leader of the Ukrainian steel construction market, a member of the European Construction Industry Association. The company provides design, production and installation solutions in accordance with current EU regulations. The company is licensed to perform construction works with medium and significant impact class (CC2, CC3). According to the data of the Unified State Register, the owner of 100% of the authorized capital of the company is Andriy Ozeychuk.

 

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Ukraine increased coal imports by 2.4 times in first 11 months of 2025

In January-November 2025, Ukraine increased imports of coal and anthracite (UKTZED code 2701) by 2.4 times (by 2 million 415.314 thousand tons) compared to the same period last year, to 4 million 134.636 thousand tons.

According to the State Customs Service of Ukraine, coal imports amounted to $929.485 million in the first eleven months of this year, which is 2.4 times ($546.653 million) more than in January-November 2024.

Coal imports from the US amounted to $374.498 million (40.29%), Australia – $281.793 million (30.32%), Poland – $90.872 million (9.78%), and other countries – $182.322 million (19.62%).

As reported, Ukraine increased coal imports by 2.7 times (by 1 million 145,951 thousand tons) in 2024 compared to 2023, to 1 million 812,592 thousand tons. In monetary terms, it imported $402.219 million worth of coal, which is 2.2 times more than the previous year ($185.378 million).

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Ukraine increased ferroalloy exports by quarter in 11 months

In January-November of this year, Ukraine increased ferroalloy exports in physical terms by 26.1% compared to the same period last year, to 91,380 thousand tons.

According to statistics released by the State Customs Service (SCS) on Friday, in monetary terms, ferroalloy exports increased by 22.2% to $102.586 million.

The main exports were to Poland (27.31% of shipments in monetary terms), Algeria (22.08%), and Turkey (22.22%).

In addition, Ukraine imported 33,370 thousand tons of this product in the first 11 months of 2025, a decrease of 57.9% compared to the same period in 2024. In monetary terms, imports fell by 51.4% to $65.560 million. Imports were mainly from Norway (18.15%), Kazakhstan (15.18%), and China (11.10%).

As reported, the Pokrovsky Mining and Processing Plant (PGZK, formerly Ordzhonikidze Mining and Processing Plant) and the Marganetsky Mining and Processing Plant (MGZK, both in Dnipropetrovsk region), which are part of the Privat Group, stopped mining and processing raw manganese ore in late October-early November 2023, while NZF and ZZF stopped smelting ferroalloys. In the summer of 2024, ferroalloy plants resumed production.

PGZK and MGZK did not produce any products in 2024, while in 2023, PGZK produced 160.31 thousand tons of manganese concentrate, and MGZK was idle.

In 2024, Ukraine reduced its exports of ferroalloys in physical terms by 4.45 times compared to 2023, to 77,316 thousand tons from 344,173 thousand tons. and in monetary terms, it decreased by 3.4 times, to $88.631 million from $297.595 million. At the same time, the main exports were to Poland (27.40% of supplies in monetary terms), Turkey (21.53%), and Italy (19.82%).

In addition, Ukraine imported 82,259 tons of this product last year, compared to 14,203 tons in 2023 (a 5.8-fold increase). In monetary terms, imports increased 3.3 times, from $42.927 million to $140.752 million. Imports were mainly from Poland (32.71%), Norway (19.55%), and Kazakhstan (13.9%).

The business of ZZF, NZF, Stakhanov ZF (located at NKT), Pokrovsky and Marganetsky GZK was organized by PrivatBank prior to the nationalization of the financial institution. The Nikopol Ferroalloy Plant is controlled by the EastOne group, created in the fall of 2007 as a result of the restructuring of the Interpipe group, as well as the Privat group.

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Oschadbank sold loans to Ukrlandfarming for UAH 1.14 bln

Fintonik LLC (Kyiv) won the auction held by the state-owned Oschadbank on December 10 for the sale of a pool of loans to the Ukrlandfarming group of companies (Ukrlandfarming, ULF), offering the minimum possible price of UAH 1.13871 billion at a starting price of UAH 5.03852 billion.

According to data from the Prozorro.Prozori system, Fintonik, 80% of which is owned by Andriy Shpylka from Kryvyi Rih and 20% by former SCM director of new business development Mykola Nesterenko, was the only participant in the auction.

According to the protocol, the remuneration of the electronic platform SKOMPANI LLC, through which the application was submitted, amounted to UAH 17.08 million and will be paid from the UAH 75.58 million guarantee deposit.

Earlier, Oschadbank noted that this stage of the sale, at which the minimum price was reduced by 44%, was the final one, because after a series of previous auctions with a gradual reduction, the possibility of further price adjustments had been exhausted.

The auction included claims under loan agreements and related collateral agreements of borrowers — the ULF group of companies (PJSC Raise-Maksymko, PJSC Agroholding Avangard, Imperovo Foods LLC) and Pakko Holding LLC.

“The current auction is the last chance for potential investors to purchase a pool of secured loans, which includes production assets throughout Ukraine: elevators, poultry farms, an egg processing plant, etc., as well as guarantees from individuals and legal entities,” Oschadbank emphasized. It noted that if the auction is unsuccessful, it will proceed with the active implementation of a liquidation scenario to collect the debt.

In early December this year, the Antimonopoly Committee of Ukraine (AMCU) fined TNA Corporate Solutions LLC (USA) and American citizen Nicholas Piazza (Nicholas Piazza) for violating the law when concentrating shares in the authorized capital of 14 enterprises of the Ukrlandfarming group, which was one of the largest agricultural holdings in Eurasia.

The agricultural holding claims that it remains one of the largest in Ukraine despite $1.2 billion in losses due to Russia’s military aggression. A significant portion of ULF’s financial obligations have been in default since 2017. In November 2017, a group of international creditors of Ukrlandfarming and Avangard estimated the total amount of ULF’s debt obligations at approximately $1.65 billion in a letter to the Ukrainian government: about $1.25 billion in debt obligations to international creditors and about $400 million to Ukrainian banks (including state-owned banks). In turn, according to their data, the debt to international creditors at that time consisted of approximately $775 million in Eurobonds and $475 million in credit debt to European and American banks (and their respective credit risk insurers).

In October last year, Ukrlandfarming announced that the lawsuits filed by Gramercy Funds Management LLC and its affiliates against Bakhmatyuk, Piazzi, Oleksandr Yaremenko, SP Capital Management LLC, TNA Corporate Solutions LLC, and/or Maltofex Ltd had been voluntarily withdrawn with a final waiver of claims, and the parties had entered into a confidential settlement agreement in connection therewith.

“Now that the litigation against Mr. Bakhmatyuk has been concluded, the company can more freely negotiate with creditors and focus on growing and rebuilding its business after losing approximately half of its value due to Russia’s invasion of Ukraine,” the release said at the time.

According to the NBU, as of early September this year, Oschadbank, with total assets of UAH 479.1 billion (12.3% of the total), ranked second among 60 banks in terms of this indicator.

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