Halychyna oil refining complex declared bankrupt, liquidation proceedings opened
The Commercial Court of Lviv region declared PJSC Halychyna oil refining complex (Drohobych oil refining complex) bankrupt with total creditor claims exceeding UAH 18 billion and initiated liquidation proceedings, according to a court ruling dated June 25, 2026, published in the Unified State Register of Court Decisions.
"PJSC Halychyna oil refining complex is hereby declared bankrupt, and liquidation proceedings are hereby initiated. The term for conducting the liquidation proceedings is set at twelve months," the court said.
A court hearing is scheduled for September 22, 2026, and will take place at the Commercial Court of Lviv region.
According to the court's ruling, control over Halychyna oil refining complex, whose total debt exceeds 18 billion hryvnias, is transferred to a creditors' committee, which includes the state-owned companies JSC Ukrnafta and PJSC UkrTatNafta.
The court concluded that the complex's financial and asset situation is critical, as its operations have been deeply unprofitable in recent years. Specifically, the company's losses amounted to nearly UAH 7 billion in 2024 and over UAH 3.46 billion in 2025, while the shortfall in assets needed to cover its debt exceeds UAH 15.2 billion.
The Drohobych-based oil refining complex "Halychyna" is considered an asset of Ihor Kolomoysky and his business partners and has been under seizure since 2023.