Naftogaz Group companies paid UAH 44.4 billion in taxes in the first six months of 2025, of which UAH 40.7 billion went to the state budget, according to Serhiy Koretsky, chairman of the board of Naftogaz of Ukraine.
“In the first half of 2025, Naftogaz Group companies paid UAH 44.4 billion in taxes to budgets of all levels, which is almost 7% of all tax revenues to the country’s budget,” he said in a Facebook post on Friday.
He noted that of this amount, UAH 40.7 billion went to the state budget and another UAH 3.7 billion to local budgets.
“Supporting the financial stability of the state is an integral part of our responsibility as a company operating in a strategic sector of the economy,” Koretsky commented.
As reported, the consolidated revenue of the Naftogaz Group in 2024 increased by 22.0% to UAH 298.75 billion, and net profit by 63.9% to UAH 37.91 billion.
In accordance with the decision of the Cabinet of Ministers, Naftogaz of Ukraine transferred UAH 10.4 billion in dividends for 2024 and income tax to the state budget.
As the company reported on Tuesday, the rest of the profit, in accordance with the government’s order, will be used to prepare the country for winter, in particular to purchase imported gas.
“I would like to thank all employees for the result. Thanks to your conscientious work, Naftogaz remains a reliable partner of the state, fulfilling all obligations imposed by the Ukrainian government in a timely and complete manner,” said Serhiy Koretsky, chairman of the board of Naftogaz Ukraine, whose words are quoted in the statement.
As reported, the Cabinet of Ministers of Ukraine, by order No. 410-r of April 29, 2025, ordered to allocate 30% of the profits of Naftogaz of Ukraine to dividends in the state budget.
“To approve (…) consolidated profits in the amount of 37 billion 906 million 640.18 thousand hryvnias, according to the consolidated financial statements of Naftogaz of Ukraine for 2024, of which the profit attributable to the shareholder of Naftogaz of Ukraine amounts to 29 billion 421 million 763.674 thousand hryvnias (…)”, the document said, in particular.
According to the government decision, 30% of the specified profit of Naftogaz, amounting to UAH 8.826 billion, is subject to payment of dividends to the state budget. Another 70% (UAH 20.595 billion) was allocated by the Cabinet of Ministers for statutory purposes, in particular 45% of the profit belonging to the shareholder of Naftogaz of Ukraine, amounting to UAH 13.239 billion, for the purchase of imported natural gas and financing measures to prepare for the autumn-winter period of 2025/26.
Ukrgasbank provided Naftogaz of Ukraine with a loan of UAH 4.7 billion for gas purchases, according to the company’s CEO Serhiy Koretsky.
“We are continuing to prepare for winter – another important step has been taken. Naftogaz has signed a loan agreement with Ukrgasbank (UGB) for UAH 4.7 billion. The funds received are already being used to purchase natural gas to build up sufficient reserves in underground gas storage facilities so that the country will be provided with energy resources this winter,” Koretsky wrote on his Facebook page on Thursday.
He expressed his gratitude to the management of Ukrgasbank and the government for their support.
As reported, on July 23, PrivatBank provided Naftogaz with the same loan of UAH 4.7 billion, which was the first for the company and the largest energy loan from the bank since the start of the war.
Naftogaz Group has attracted a UAH 4.7 billion loan from PrivatBank to fill its underground gas storage facilities with the required volumes of gas, said Serhiy Koretsky, Chairman of the Board of Naftogaz of Ukraine Sergiy Koretsky.
“Naftogaz Group has attracted a UAH 4.7 billion loan from PrivatBank. The funds were used to build up the necessary gas reserves in underground storage facilities for a sustainable heating season,” Koretsky wrote on Facebook on Wednesday.
He noted that cooperation with international financial organizations and partner countries is ongoing.
“I am grateful to the management of PrivatBank for the quick response to our request. I thank the Government for supporting our efforts to prepare for the winter,” said the head of Naftogaz.
The company indicated that it is diversifying sources and routes of gas supply to increase Ukraine’s energy security and resilience in a full-scale war.
As reported, in the spring of 2025, Naftogaz announced its intention to use a EUR 270 million loan from the European Bank for Reconstruction and Development (EBRD) and EUR 140 million in grant funding provided by the Norwegian government through the NORAD fund for the urgent purchase of 1 billion cubic meters of gas. The company has also contracted 440 million cubic meters of liquefied natural gas (LNG) from the Polish concern ORLEN.
Ukrgazvydobuvannya, part of the Naftogaz group, has commissioned a new high-yield exploration well with a flow rate of 383,000 cubic meters of natural gas per day.
This was reported in a press release of the group with reference to the chairman of the board of Naftogaz of Ukraine, Serhiy Koretsky.
“This result is a joint achievement of all divisions of Ukrgazvydobuvannya that were involved in the design, drilling, and development.
I would like to thank everyone who worked on this well. Step by step, we are strengthening our own production,” he said.
The well is inclined, with a depth of almost 5.7 km. All work, from drilling to commissioning, was completed a month and a half ahead of schedule.
According to Naftogaz, two more exploration wells are currently being drilled at the same field, and three more are planned to start drilling in the near future.
As reported, Ukrgazvydobuvannya set a new drilling record in January-March 2025, reaching 107,136 meters, which is almost twice as much as in the same period of 2024 and exceeds the previous quarterly maximum recorded in the third quarter of 2024 (102,866 meters).
Naftogaz Group is already sending a payment request to Gazprom to recover $1.37 billion in accordance with the Final Award of the international arbitration in Zurich received by the company on June 20, 2025.
“If Gazprom refuses to comply with the decision voluntarily, Naftogaz will start implementing a strategy for the enforcement of the Russian company’s assets,” the company said in a press release on Tuesday.
As explained by the group, the amount of $1.37 includes the principal debt for gas transit services under the 2019 agreement, as well as penalties and compensation for all legal costs incurred by Naftogaz.
At the same time, the Group continues to enforce another arbitral award – on payment of $5 billion in compensation to the Russian Federation for the illegal expropriation of assets in Crimea in 2014.
“The enforcement process is ongoing at various stages in ten jurisdictions. In Finland and France, there are already first results – Russian property has been seized. In other countries, the work continues,” Naftogaz said.
For reasons of legal strategy, the company is not disclosing additional details at this time.
In most jurisdictions, the interests of Naftogaz are represented by leading local law firms free of charge, on a pro bono basis.
As reported with reference to Naftogaz CEO Serhiy Koretsky, the international arbitration tribunal, which considered in Switzerland the case of Gazprom’s violation of its contractual obligations on the take-or-pay principle, ordered the Russian corporation to pay $1.37 billion in favor of Naftogaz of Ukraine.
“In September 2022, Naftogaz initiated arbitration, which Gazprom tried to block through Russian courts. This did not work. Now we have the final decision: the tribunal of arbitrators from Sweden, Switzerland and Israel completely sided with Naftogaz,” Koretsky wrote on his Facebook page on Monday evening.
He reminded that Gazprom had violated its contractual obligations under the take-or-pay principle since May 2022 by stopping payments.
