PJSC Ukrnafta is working on energy generation projects using its own gas, with a total planned capacity of up to 370 MW.

According to a company press release, this announcement was made by Duncan Nightingale, Chairman of Ukrnafta's Supervisory Board, during the World Economic Forum in Davos.

He expressed gratitude to the governments of Sweden, Norway, the Netherlands, and the United States, as well as the European Bank for Reconstruction and Development (EBRD), for their support in achieving sustainable development goals. He also invited new partners to participate in the implementation of ambitious and promising projects.

"We need to invest in Ukraine now. If you wait for the war to end, you may miss out on the most profitable projects," Nightingale said.

In turn, EBRD Vice President Matteo Patrone praised the company's positive financial performance and improvements in management systems.

"They (Ukrnafta) have demonstrated not only excellent financial results but also genuine corporate governance. This is an achievement by Serhiy [Koretsky] and the Supervisory Board. If you'd asked me two years ago whether we would support Ukrnafta, I would have said 'no.' But what has happened over the past 18 months is truly remarkable," he said.

Ukrnafta is Ukraine's largest oil extraction company and operates a national network of filling stations. In March 2024, the company took over the management of Glusco assets, and now operates 545 filling stations – 460 of its own and 85 under management.

The company is implementing a comprehensive program to renew operations and modernize the format of its filling stations. Since February 2023, Ukrnafta has been offering its own fuel vouchers and NAFTA Cards, which are sold to both legal entities and individuals through Ukrnafta-Postach LLC.

The largest shareholder in Ukrnafta is Naftogaz Ukrainy, which holds a 50% plus one share.

In November 2022, the General Staff of the Armed Forces of Ukraine decided to transfer the corporate rights of the company, previously owned by private shareholders, to the state. The Ministry of Defense now oversees these shares.