The Polish group Orlen is interested in expanding its presence in Ukraine and is considering the possibility of acquiring a stake in JSC “Ukrnafta,” the Polish online portal bankier.pl reported on Thursday, citing Orlen CEO Ireneusz Fafar.
“We have begun discussions regarding the possibility of our participation in Ukrnafta. We are one of the partners in this process. Whether this participation will take place and what form it will take is a matter for negotiations with the Ukrainian side,” he stated at a press conference.
According to him, the Ukrainian market is of paramount importance to the group, especially for the oil refinery in Mažeikiai (Lithuania), which sells nearly 18% of its products there.
“We believe that the war will end and Ukraine will emerge victorious. We would like to participate more actively in this market than we do now. We are one of the main partners supplying fuel to Ukraine and would like to strengthen this position,” Fafara emphasized.
He added that Orlen sells about 1.5 million tons of petroleum products in Ukraine annually.
JSC “Ukrnafta” is Ukraine’s largest oil production company, carrying out a full cycle of activities in the field of production: exploration, oil and gas production, provision of oilfield services, as well as management of the largest network of gas stations in Ukraine, UKRNAFTA.
The company has over 1,106 oil wells and 131 gas wells on its balance sheet.
The shareholders of JSC “Ukrnafta” are NJSC “Naftogaz of Ukraine” and the Ministry of Defense of Ukraine. Since 2022, the company has been under state management and is implementing a large-scale business transformation.
The UKRNAFTA gas station network is the largest network of gas stations in Ukraine, comprising nearly 700 stations and ranking among the top three in terms of fuel sales volume. The UKRNAFTA brand consolidates networks that previously operated under the Glusco, Shell, and U.Go brands.
