In January-September 2024, PJSC Ukrnafta produced 1.05 million tons of oil and condensate, while JSC Ukrgasvydobuvannya produced almost 0.37 million tons, according to the consolidated financial statements of the group published on the website of Naftogaz,
According to the document, the country’s private companies produced about 0.19 million tons of oil and condensate during the reporting period.
At the same time, the volume of diesel fuel imports to Ukraine in the first nine months of this year increased by 7.3% compared to January-September 2023, and its total value amounted to $4.36 billion.
The report also confirms the Group’s previously announced production volume of 11 bcm of gas for the first nine months of 2024 and the production forecast for the current year of about 14.7 bcm of commercial gas.
As reported, in 2022 Ukrnafta produced 1.37 mln tons of oil and condensate (-9% compared to 2021), in 2023 – 1.41 mln tons (+3% compared to 2022).
PJSC “Ukrnafta” on December 25 announced a tender for services of compulsory insurance of civil liability of owners of motor vehicles (MTPL).
As reported in the electronic public procurement system “Prozorro”, the expected cost of the purchase of services is UAH 2.722 million. Documents are accepted until January 6.
As reported, the winner of a similar tender a year earlier was IC “Arsenal Insurance”, whose offer amounted to UAH 1.907 million at an expected cost of UAH 2.750 million.
On Wednesday, the Board of Directors of the European Bank for Reconstruction and Development (EBRD) approved a loan of up to EUR80 million to Ukrnafta under state guarantees for the construction of about 100 MW of small gas-fired distributed power plants and cogeneration facilities. According to the bank’s website, the loan will help solve the problem of electricity shortages and ensure uninterrupted power supply to households and businesses.
The total cost of the project will be EUR103.8 million, and it will also be financed by a grant of up to EUR22 million expected to be provided by the Netherlands, the United States and other donors through the EBRD’s Special Crisis Response Fund, as well as a technical support grant of EUR1.8 million from other donors.
“Ukrnafta is Ukraine’s largest oil producer and operator of the national network of filling stations. In March 2024, the company took over the management of Glusco’s assets and operates 547 filling stations – 462 owned and 85 managed.
The company is implementing a comprehensive program to restore operations and update the format of its filling stations. Since February 2023, the company has been issuing its own fuel coupons and NAFTAKarta cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
“Ukrnafta holds 92 special permits for commercial development of fields. It has 1832 oil and 154 gas production wells on its balance sheet.
Ukrnafta’s largest shareholder 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 to the state a share of corporate rights of the company owned by private owners, which is now managed by the Ministry of Defense.
On November 19, PJSC Ukrnafta and TAS Insurance Group signed a contract for voluntary medical insurance (VMI) for employees, according to the Prozorro electronic public procurement system.
It is also noted that the place of performance of works or services: Ukraine, and the deadline: September 10, 2025. The contract is worth UAH 9.261 million.
As reported, at the end of August 2024, Ukrnafta announced its intention to enter into a voluntary health insurance agreement with TAS Insurance Group. The company’s price offer amounted to UAH 18.521 million, with the expected cost of the services procurement at UAH 18.709 million. The service delivery date is July 4, 2025.
TAS Insurance Group was registered in 1998. It is a universal company that offers its customers more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network: 28 regional directorates and branches and 450 sales offices throughout Ukraine.
PJSC Ukrnafta has signed an agreement with Shell to buy 51% of Alliance Holding LLC, the operator of the Shell filling station network in Ukraine, the company’s website reported on Tuesday.
“In the coming days, Ukrnafta, which has been determined as the winner of the competitive process, together with Shell will apply to the Antimonopoly Committee for a merger clearance, which is a prerequisite for completing the deal,” the press release says.
Once the merger clearance is granted, Ukrnafta will be able to fully close the deal and acquire all rights and obligations of the shareholder.
The transaction and assets were valued by investment banking advisor Rothschild & Co, the legal side of the matter was handled by Sayenko Kharenko, and the auditor was KPMG.
The value of the deal was not disclosed in the press release.
“Naftogaz Group has not only adapted to the war conditions, but is also getting stronger. We remain flexible and are not afraid to make decisions that allow the state to earn money. The profits earned by Alliance Holding will go to the state budget in the form of dividends,” said Oleksiy Chernyshov, CEO of Naftogaz.
According to Ukrnafta, all Shell filling stations will be rebranded within a year. The terms of the existing B2B contracts will be fulfilled in full. The company’s staff will also be retained – 1,550 employees working at the filling stations and head office.
“Ukrnafta’s Supervisory Board approved the decision because the acquisition of the business, which has been led by a reputable international group for 15 years, will provide the company with an expansion of its filling station network and market share, which is in line with the company’s development strategy,” said Serhiy Koretsky, CEO of Ukrnafta.
According to the press release, Shell is among the top 10 networks in terms of sales in Ukraine, with 118 operating filling stations. The network is No. 9 in terms of fuel sales in the first nine months of 2024 and No. 7 in terms of the number of filling stations located mainly in favorable areas with heavy traffic.
As reported, a joint venture between Shell and Mussa Bazhaev’s Russian Alliance Group to manage a network of filling stations in Ukraine was launched in August 2007. Shell held a 51% stake in the joint venture, while Alliance held 49%. Alliance transferred about 150 filling stations to the joint venture, while Shell contributed cash, licenses and a brand.
In 2014, it became known that a sanctioned Russian businessman, Eduard Khudainatov, had bought out Bazhaev’s oil assets. In June 2022, he was sanctioned by the European Union, and in October 2022, he was sanctioned by Ukraine.
In October 2023, the Ministry of Justice of Ukraine filed a lawsuit with the High Anti-Corruption Court of Ukraine to recover Khudainatov’s assets for the state.
As a result of the proceedings, 49% of Alliance Holding was recovered by the state. In April 2024, this share was transferred to the State Property Fund (SPF) of Ukraine.
In November 2024, Overseas Investments, a member of the Shell group of energy and petrochemical companies, registered 51% in the authorized capital of Alliance Holding pursuant to the decision of the HACC Appeals Chamber.
“Ukrnafta is Ukraine’s largest oil producer and operator of a national network of gas stations. In March 2024, the company took over the management of Glusco’s assets and operates a total of 545 filling stations – 460 owned and 85 managed.
The company is implementing a comprehensive program to restore operations and update the format of its filling stations. Since February 2023, the company has been issuing its own fuel coupons and NAFTAKarta cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
Ukrnafta’s largest shareholder 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 to the state a share of corporate rights of the company owned by private owners, which is currently managed by the Ministry of Defense.
In January-October 2024, Ukrgasvydobuvannya JSC and Ukrnafta PJSC increased commercial gas production by 6% compared to the same period last year, up to 12.3 bcm, according to the website of Naftogaz of Ukraine.
“Despite the hostilities, our specialists continue to drill new wells and steadily increase gas production. We are doing everything possible to ensure that Ukrainians can continue to use their own fuel during the heating season,” said Naftogaz CEO Oleksiy Chernyshov.
As reported, the consolidated quarterly report of Naftogaz forecasts that the group’s commercial gas production in 2024 will amount to 14.6 billion cubic meters. In February, Chernyshov noted that the group’s goal for this year is to get closer to 15 bcm of production.
