Ukrnafta substantially increased fuel sales in the first quarter
The largest oil producing company in Ukraine, PJSC “Ukrnafta”, has summarized its performance for the first quarter of 2026. Despite continuous shelling of energy infrastructure, equipment damage, and power outages, the company maintained stability and demonstrated significant growth in the retail segment.
This information is reported by Delo.ua, referencing the company’s Supervisory Board report.
Specifically, in the first quarter, sales of light petroleum products through the company’s gas station network increased by 49% compared to the same period last year. Gasoline sales grew by 31%, and diesel fuel sales by 75%.
Hydrocarbon production and new technologies
According to the Chairman of the Board of “Ukrnafta”, Bohdan Kukura, Russian attacks on the energy system caused regular issues with the operation of the mechanized well fund. Nevertheless, the company managed to maintain overall oil and gas production volumes at the previous year’s level.
Key production results:
- Additional volumes: thanks to capital repairs, hydraulic fracturing, and well stimulation, the company obtained an additional 22 thousand tons of oil and 8.2 million cubic meters of gas.
- Modern equipment: the introduction of the latest pumping systems from global brands Baker Hughes, Oil Dynamics, and Alkhorayef helped enhance operational reliability and extend the time between maintenance.
- Carpathian assets: members of the Supervisory Board visited a high-mountain deposit in the Carpathians (at an altitude of over 1000 meters). With new compressors, oil production there increased by 185%, and gas production by 147%. Out of the 19 active wells at this site, five were drilled after 2024.
- 3D modeling: the company’s own research and development center created 9 new and updated 8 existing 3D digital models of fields, while laboratories expanded the analysis of reservoir fluids from 7 to 20 parameters.
The Chairman of the Supervisory Board, Timothy Dodson, positively assessed the team’s adaptation to extremely challenging wartime conditions. Concurrently, independent auditors from KPMG confirmed the financial results for 2025. Ukrnafta’s revenue amounted to 99.6 billion UAH, 28.8 billion UAH in taxes were paid to the state budget, and the state received 5 billion UAH in dividends.
Recall that “Ukrnafta” is updating its production technologies to improve efficiency. The company has completely abandoned the use of air during specific technical operations at wells and switched to using nitrogen, which has significantly reduced the load on expensive equipment, cut operational costs, and enhanced workplace safety for personnel.