During the war, the OKKO gas station network has reconstructed about a third of its gas stations, investing $350-400 thousand in each modernization, said Vasyl Danylyak, CEO of OKKO GROUP and co-founder of GORO Mountain Resort.
“In three years of war, OKKO has updated a third of its network. I believe this is the highest figure among all networks operating in Ukraine today,” Danylyak said in the company’s YouTube project DIALOGI.
As Danylyak explained, the decision to modernize the gas stations was linked to the desire to maintain market leadership amid a decline and fierce competition. He noted that the war has significantly changed the distribution of gas station chains in the market, with OKKO increasing its share from approximately 15% at the start of the war to 22% by the end of 2022. Thus, according to him, OKKO took first place, although before the war it was held by the Privat group, which also had a 22-24% share.
“But we understood that we needed to consolidate our position on the market. And we decided to carry out a massive rebranding and reconstruction of our first-generation filling stations,” said the CEO of OKKO.
He added that the modernization began in mid-2022 and became widespread in 2023. According to him, approximately 60 gas stations were modernized in 2023 and 2024.
“On average, the reconstruction of one gas station – interior and exterior – cost approximately $350,000 in 2023. Today, due to slight price increases, it is about $400,000,” Danilyak said.
According to the OKKO CEO, the network has lost approximately $120 million since the beginning of 2022 due to the destruction of its oil depots as a result of Russian sanctions.
OKKO Group unites more than 10 diverse businesses in the fields of manufacturing, trade, construction, insurance, services, and other services. The group’s flagship company is Galnaftogaz, which operates one of the largest gas station chains in Ukraine under the OKKO brand, with about 400 gas stations.
The founder and ultimate beneficiary of the group is Vitaliy Antonov.
