Over three years, JSC Ukrnafta explored 1,330 square kilometers using 3D seismic exploration to expand its resource base and improve the accuracy of geological modeling.
“One of the main strategic objectives is to increase hydrocarbon reserves,” the company said in a statement.
To this end, Ukrnafta is investing in modern geophysical research, which makes it possible to identify new promising reservoirs and plan drilling more efficiently.
According to Yuriy Tkachuk, acting chairman of the board of Ukrnafta, in 2025, the total area of 3D seismic exploration will be approximately 750 square kilometers.
“The field phase has already been completed at two fields, another is in progress, and research at three new fields is planned by the end of the year. This is consistent work that ensures long-term stability of production,” he said.
The company emphasized that Ukrnafta was the first in Ukraine to apply wireless 3D seismic technology in mountainous conditions. This approach makes it possible to work in difficult geological conditions, minimizes environmental impact, reduces the duration of field work, and ensures higher accuracy of geophysical data. The results obtained form the basis of digital geological and hydrodynamic models that help predict production dynamics and make informed technical decisions.
In 2026, the company plans to continue 3D seismic exploration at the most promising fields.
Ukrnafta is Ukraine’s largest oil production company and operates a national network of gas stations. In March 2024, it took over the management of Glusco’s assets and currently operates a total of 663 gas stations. It holds 92 special permits for industrial development of deposits. It has 1,832 oil and 154 gas production wells on its balance sheet.
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 the company’s corporate rights, which belonged to private owners, to the state, and they are currently managed by the Ministry of Defense.
Ukrnafta’s net profit for 2024 was UAH 16.38 billion.
South African businessman Errol Musk, father of billionaire Elon Musk, made an exploratory visit to Bosnia and Herzegovina and Serbia, assessing the region’s potential for establishing an Institute for Gravitational and Space-Time Research, which would focus on gravity, space-time, terraforming, and longevity, Reuters reports.
Musk had previously considered Dubai as a potential location but abandoned the idea after friends from the Balkans persuaded him to personally evaluate the potential of Serbia and Bosnia.
He stated that he was pleasantly surprised by the level of infrastructure, business environment, and accessibility, noting: “the economy, the behavior of people… it’s idyllic.”
Representatives of the Chamber of Commerce of the Federation of Bosnia and Herzegovina presented him with an educated workforce and economic potential and offered facilities for the future institute.
Errol Musk visited Serbia and Austria as part of a preliminary regional assessment and expressed confidence that the Balkans represent a more economical and efficient solution than Dubai.
Musk envisions the institute as a privately-run platform, independent of governments, attracting professionals “not under ideological pressure” and interested in radical scientific research. The proposed research areas include gravity, space-time, nuclear fusion, and longevity — topics that go beyond conventional academic science.
Although no final decision has been made, Bosnia and Serbia are being considered by Errol Musk as more cost-effective locations with better human resources than the alternatives.
Since the beginning of 2025, Ukraine’s judicial system has shown some progress in the introduction of new technologies, but there are delays in the consideration of cases and the enforcement of court decisions, according to Vitaliy Chayun, a lawyer at the Barristers law firm.
“The war has affected all aspects of the functioning of the courts, from the physical safety of judges to citizens’ access to justice. Despite this, the courts continue to operate, adapting to the conditions of martial law and the requirements of European integration reforms. In the first half of 2025, the judicial system showed some progress in the implementation of new technologies and reforms, but faced a number of problems, such as delays in the consideration of cases and difficulties in the enforcement of court decisions,” he told the Interfax-Ukraine news agency.
Chayun recalled that in 2024, 5.3 million cases were submitted to courts of all instances and jurisdictions, of which 4.4 million were considered by the courts.
“Approximately one million cases remain unresolved. This indicates a significant burden on the judicial system, especially given the conditions of martial law and staff shortages. It can be assumed that the number of cases in 2025 will remain high, given the growth in 2024 and the continuation of martial law,” he said.
Chayun noted that in the first half of 2025, Ukraine’s judicial system “continues to adapt to the conditions of war and reform in preparation for EU accession,” and among the main trends in the work of the judicial system is the introduction of remote court hearings, which allow hearings to be held without the physical presence of participants.
“This is especially important in wartime, when many citizens are internally displaced persons or live in combat zones. Given these challenges, the development of remote court proceedings is becoming a priority task, the implementation of which will ensure the effectiveness of court proceedings and procedural economy,” he said.
In addition, Chayun drew attention to the problem of filling judicial vacancies: in 2025, it is planned to appoint 1,800 judges to local courts, 550 to appellate courts, and 25 to the High Anti-Corruption Court. However, due to the length of the appointment procedures, “the judiciary has been ‘bled dry’ for many years.”
Chae also noted the processes of modernizing court IT systems and creating new specialized courts.
Commenting on the length of proceedings in Ukrainian courts, the lawyer pointed out that they “remain one of the key problems.” “Cases can be delayed for years due to a lack of funding for basic needs such as stamps, envelopes, and stationery necessary to send correspondence to parties to the proceedings,” he said.
According to Chayun, the delays affect “all types of cases, including economic cases, which are often complex due to the large number of documents and parties involved.” He recalled that between January and April 2025, 59,400 cases were pending in courts of various instances against the State Tax Service for a total amount of UAH 413.8 billion. At the same time, 6,900 cases worth UAH 78.7 billion were considered, of which 2,300 cases (including non-property disputes) worth UAH 44.4 billion were in favor of the State Tax Service, and 4,600 cases worth UAH 34.3 billion were in favor of taxpayers.
“Although there is no accurate data on the timing of economic cases in the first half of 2025, delays persist due to court overload and limited funding. It is expected that filling judicial vacancies and modernizing IT systems in the future will help speed up the consideration of cases, but in the first half of 2025, no significant improvements were achieved, and the shortage of personnel in the judicial system only exacerbates negative trends,” the lawyer emphasized.
He also drew attention to a number of problems with the enforcement of court decisions. “The enforcement of court decisions remains one of the most acute problems of the judicial system, as more than half of court decisions remain unenforced. In 2025, a new law on the digitization of enforcement proceedings and the implementation of a strategy to improve the work of the enforcement service are planned to be adopted. This demonstrates the state’s recognition of the existing problems in this area. However, during 2025, problems with the enforcement of court decisions are likely to persist due to the insufficient effectiveness of the enforcement service and a lack of resources,” the lawyer said.
“The Ukrainian judicial system showed gradual progress in implementing reforms in the first half of 2025, but delays in the consideration of cases, limited access to justice due to financial and technical problems, and difficulties in enforcing court decisions remain significant challenges. Lawyers are forced to adapt to these conditions, which requires additional efforts to protect their clients’ rights. Further reforms and support from the state and international partners are critical to ensuring effective and fair justice in Ukraine,” he concluded.
The Velta Group, which has assets for the extraction of titanium-bearing ores in Novomyrhorod (Kirovohrad region), has received its third patent from the US Patent and Trademark Office (USPTO) for its innovative Velta Ti Process technology.
According to a press release on Monday, the new patent confirms the possibility of obtaining high-quality titanium dioxide (TiO₂), a key material for the further production of titanium powder using the Velta Ti Process technology, as well as commercial products based on titanium, iron, calcium, and nitrogen.
It should be noted that Velta Holding US Inc. has obtained three Ukrainian and three US patents since 2020.
Velta Holding US Inc. is a group of companies engaged in the full cycle of titanium production, from the extraction of titanium raw materials through innovation to the manufacture of final metal products.
Velta LLC is a Ukrainian company that is part of the group and is a manufacturer of titanium raw materials and the only private Ukrainian company that has built a titanium mining complex from scratch in the Kirovohrad region. With over 15 years of experience in the mining sector, the company holds 2% of the global titanium market and has partners and customers in Europe and the US.
Velta Holding also includes the Velta RD Titan research and development center and Velta Medical, a manufacturer of custom titanium implants.
Velta Holding LLC is wholly owned by VKF Velta LLC. The ultimate beneficiaries are three individuals: Andriy Brodsky (60%), Vadym Moskalenko (20%), and Vitaliy Malakhov (20%).
PATENT, PROCESSING, TECHNOLOGY, TITANIUM, US, USA, VELTA
The work on the transfer of Israeli technologies related to smart alerts for missiles and drones to Ukraine is in progress, said the Ambassador of Ukraine to Israel Yevgeniy Korniychuk.
“Regarding the official things that we can comment – there is work on the transfer of Israeli technology related to smart alerts concerning missiles and drones. This technology is officially being transferred by the Israeli side. And I think that in a certain time we will receive it completely,” he said at a briefing at the Media Center Ukraine.
The Ambassador added that Ukraine still needs more active military-technical cooperation. However, according to him, there are many projects that cannot be commented on publicly yet.
“In order to have specifics on Iranian drones, I think it will take a few weeks. Since the government has just started work, it needs to make a decision taking into account the position of the U.S. as a major strategic partner, and the interests of the public,” the ambassador said.
He explained that the gap between the right-wing bloc that came to power and the left-wing forces is very small – 40 thousand voters, and the agenda is very much related to domestic politics, as well as the Palestinian question.
“So the issue of Ukraine is not a priority. Although we are trying with all our might to make it so,” Korniychuk added.
At the same time, the Israeli Foreign Ministry said that the issue of the war in Ukraine is a priority, said the Ukrainian diplomat.
“The minister said that he would facilitate more aid to Ukraine, without specifying it,” the ambassador said.
A large manufacturer of capping and packaging materials JSC Tekhnologiya (Sumy) in January-September received a net profit of UAH 214.18 million, which is 33.5% less than in the same period of 2021.
According to the company’s non-consolidated financial statements, published on Friday in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its net income fell by 5% to UAH 1 billion 457 million.
At the same time, the gross profit of Technologiya JSC increased by 22.6% – up to UAH 443.4 million, and UAH 297 million of profit was received from operating activities – 41% more.
According to reports, the company’s expenses under the item “other operating expenses” increased 3.6 times – up to UAH 136.79 million.
According to the company’s statements, in the first half of this year, it reduced its net profit by 6.7 times compared to the same period in 2021, to UAH 16.68 million, while net income decreased by 12.5%, to UAH 824 million.
Thus, in the third quarter of this year, Tekhnologiya’s net profit decreased by 6.5% to UAH 197.5 million, while net income increased by 7% to UAH 632.5 million.
Founded in 1990, Tekhnologiya produces capping and packaging materials, including decorative casings and caps for champagne decoration, label products, packaging for pharmaceuticals, combined material, and polyethylene film. The export geography included more than 60 countries.
The beneficiaries of the company are Vladimir Zayets (70%) and Pole Krzysztof Gzhondzel (30%).
Technologia Group’s global offices are located in the UK (TEO UK Packaging Limited), Poland (MUZEL LTD), Italy (TEO ITALY SRL).
