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.
Ukrnafta uses state-of-the-art pumping equipment from global leaders to reduce the number of repairs and maximize production at its wells. Currently, 226 electric centrifugal pump units from Baker Hughes, Oil Dynamics, and Alkhorayef are in operation.
“At the same time, we are upgrading cables, pipes, and systems for protection against corrosion and deposits—this is a comprehensive effort involving several company divisions,” noted Ukrnafta Board Chairman Bohdan Kukura. “In 2026, we will continue to upgrade our fleet and scale up these solutions. “I thank the team for their systematic work and the results, which are evident in the numbers.”
Over the past two years, this comprehensive effort and modern equipment have yielded tangible results:
• The number of repairs on wells operated by electric centrifugal pumps has decreased from 48 to 32 per month;
• the interval between repairs for the total fleet of wells operated by electric centrifugal pumps has increased by 75%—from 216 to 377 days, and where foreign-made pumps are installed, this period has reached 600 days;
• some units operate for more than 800 days without maintenance—which is in line with best global practices.
JSC “Ukrnafta”—Ukraine’s largest oil producer—operates the country’s largest national network of gas stations, UKRNAFTA. In 2024, the company entered into an asset management agreement with Glusco. In 2025, it finalized a deal with Shell Overseas Investments BV to purchase the Shell network in Ukraine. In total, it operates nearly 700 gas stations.
The company is implementing a comprehensive program to resume operations and modernize the format of the gas stations in its network. Since February 2023, it has been issuing its own fuel vouchers and “NAFTACard” cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
The largest shareholder of Ukrnafta is Naftogaz of Ukraine with a stake of 50% + 1 share.
In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state the share of corporate rights in the company that belonged to private owners, which is now managed by the Ministry of Defense.
Ukrnafta and Wärtsilä, with the support of the Ministry of Energy of Ukraine and the Naftogaz Group, have launched a collaboration in the field of energy resilience.
During a meeting between First Deputy Prime Minister and Minister of Energy Denys Shmyhal and Petteri Orpo, a framework agreement was signed for the supply of complete equipment for modern gas piston power plants between Ukraine’s largest oil producer, JSC Ukrnafta, and the Finnish leader in energy technology manufacturing, Wärtsilä.
“This is one of the strategic projects aimed at strengthening Ukraine’s energy security amid constant Russian attacks on energy infrastructure. The lengthy negotiation process is achieving its goal,” emphasized Serhiy Koretskyi, Chairman of the Board of NJSC Naftogaz of Ukraine.
The purchase will be financed through preferential loans from the Finnish-Ukrainian Investment Facility (FUIF), guaranteed by the Finnish export credit agency Finnvera.
“The project will provide backup power for the company’s critical units. The surplus of generated electricity will be directed to meet the needs of the population and businesses within the country’s integrated power grid, which has been affected by Russian attacks,” noted Bogdan Kukura, Chairman of the Board of JSC “Ukrnafta.”
Modern, highly flexible gas equipment will enable Ukrnafta to additionally provide balancing services for the electricity market and significantly strengthen energy security in the regions.
JSC “Ukrnafta” is Ukraine’s largest oil production company and operates the country’s largest national network of gas stations—UKRNAFTA. In 2024, the company entered into an asset management agreement with Glusco. In 2025, it finalized a deal with Shell Overseas Investments BV to purchase the Shell network in Ukraine. In total, it operates nearly 700 gas stations.
The company is implementing a comprehensive program to restore operations and modernize the format of the gas stations in its network. Since February 2023, it has been issuing its own fuel vouchers and “NAFTACard” cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
The largest shareholder of “Ukrnafta” is NJSC “Naftogaz of Ukraine,” holding a 50%+1 share stake.
In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state the share of corporate rights in the company that belonged to private owners, which is now managed by the Ministry of Defense.
JSC Ukrnafta and the Finnish company Wärtsilä signed a framework agreement on the supply of complete equipment for gas piston power plants during a meeting between Finnish Prime Minister Petteri Orpo and the Ukrainian side, announced First Deputy Prime Minister and Minister of Energy of Ukraine Denys Shmyhal.
“Together with the Finnish-Ukrainian Investment Facility (FUIF) and JSC Ukrnafta, we are implementing a phased program to deploy distributed gas piston power generation,” he wrote on Telegram.
According to Shmyhal, as part of the first phase, an EUR 80 million loan from the EBRD has already been secured, a loan agreement has been signed, a state guarantee has been confirmed, and procurement is underway in accordance with EBRD procedures.
For the subsequent phases, Ukraine plans to use FUIF funding to scale up the program, specifically by installing gas piston power plants based on Wärtsilä equipment.
The First Deputy Prime Minister added that all relevant projects are aimed at promptly strengthening the energy security of the regions, balancing Ukraine’s integrated power grid, and securing critical infrastructure.
On May 4, PJSC Ukrnafta announced a tender for liability insurance for members of the supervisory board and executive body, as reported in the Prozorro system. The estimated cost of the services is UAH 6.880 million.
Documents will be accepted until May 15, 2026.
As previously reported, the winner of a similar tender in October of last year was IC “Universalna.”
JSC “Ukrnafta” is Ukraine’s largest oil producer and operates the country’s largest national network of gas stations—UKRNAFTA. In 2024, the company entered into an asset management agreement with Glusco. In 2025, it finalized a deal with Shell Overseas Investments BV to purchase the Shell network in Ukraine. In total, it operates nearly 700 gas stations.
The company is implementing a comprehensive program to resume operations and modernize the format of gas stations in its network. Since February 2023, it has been issuing its own fuel vouchers and “NAFTACard” cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
The largest shareholder of Ukrnafta is Naftogaz of Ukraine, holding a 50%+1 share stake.
In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state the share of corporate rights in the company that belonged to private owners, which is now managed by the Ministry of Defense.
“Ukrnafta” paid 8.86 billion UAH in taxes, fees, and customs duties to the state budget in the first quarter of 2026.
“In total, since the company came under state management, the amount of taxes, fees, and customs duties paid for 2023–2026 has exceeded UAH 106 billion,” noted Bohdan Kukura, Chairman of the Board of JSC Ukrnafta. “This is the company’s systematic contribution to supporting the economy and financing the state’s needs, particularly those of the Armed Forces. I thank the team for their consistent work and results.”
As of the end of 2025, Ukrnafta, as part of the Naftogaz Group, paid 28.8 billion UAH in taxes and fees to the state budget.
JSC “Ukrnafta” is Ukraine’s largest oil producer and operates the country’s largest national network of gas stations—UKRNAFTA. In 2024, the company entered into an asset management agreement with Glusco. In 2025, it finalized a deal with Shell Overseas Investments BV to purchase the Shell network in Ukraine. In total, it operates nearly 700 gas stations.
The company is implementing a comprehensive program to resume operations and modernize the format of gas stations in its network. Since February 2023, it has been issuing its own fuel vouchers and “NAFTACard” cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
The largest shareholder of Ukrnafta is Naftogaz of Ukraine with a stake of 50% plus one share.
In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state the share of corporate rights in the company that belonged to private owners, which is now managed by the Ministry of Defense.
