Ukrnafta, a state-owned oil and gas extraction company that is a subsidiary of Naftogaz, has bought a 51% stake in Shell’s gas station network in Ukraine, the press service of Naftogaz reported on Nov. 19.
Ukrnafta will now hold a majority stake in a network of 118 operational gas stations.
Shell, one of Ukraine’s top 10 fuel networks, ranks number 9 in fuel sales and number 7 in station numbers, with most stations located in high-traffic areas.
All 1,550 employees will keep their jobs, and rebranding is set to be completed within a year.
According to Oleksiy Chernyshov, CEO of Naftogaz Group, the profits from this business will be directed to the national budget as dividends.
Natural gas production in Ukraine in October increased to the highest level since the beginning of the full-scale invasion in February 2022, exploration and production consulting company EXPRO reported on its website on Nov. 6.
According to EXPRO’s calculations, gross natural gas production rose by 2.3% in October 2024 compared to the same month last year, reaching 1.663 billion cubic meters, the highest level since January 2022.
Ukraine’s gas production also grew by 2% this year, while daily production rates rose by 1.3%.
Kateryna Hodunova