Ukrnafta transfers UAH 5 bln in dividends to state budget for 2024

PJSC Ukrnafta has transferred UAH 5 billion in dividends to the state budget based on its performance in 2024, the company reported on Wednesday.

According to the company, it fully and timely met its dividend obligations for 2024 to both NJSC Naftogaz Ukrainy and Ukraine's Ministry of Defense.

"The company continues to grow rapidly, increasing oil and gas production as well as petroleum product sales for the second consecutive year, while also expanding its market share in the filling station segment," said Serhiy Koretsky, CEO of Naftogaz Ukrainy.

As reported, Ukrnafta posted a net profit of UAH 16.38 billion in 2024.

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 544 filling stations – 461 of its own and 83 under management.

Ukrnafta holds 92 licenses for industrial development of fields. It has 1,832 oil and 154 gas production wells on its balance.

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.