The Polish oil and gas company Orlen is looking to expand its footprint in Ukraine and is considering acquiring a stake in the state-owned enterprise Ukrnafta.
Discussions regarding potential involvement in Ukrnafta have commenced, with Orlen positioning itself as a partner in these negotiations. The specifics of any commitments will depend on ongoing talks with Ukrainian officials, according to company representatives.
Ukrainian markets hold strategic significance for Orlen, particularly for its refinery in Możejki, Lithuania, which exports approximately 18% of its products to Ukraine. The company remains optimistic about Ukraine’s future, expressing a desire to increase its market presence. Orlen has been a key supplier of fuel to Ukraine and aims to strengthen its role in this sector.
It is worth noting that in the fall of 2022, the Ukrainian government regained control of Ukrnafta, which had been under the management of oligarch Ihor Kolomoyskyi for nearly 19 years.
In April 2023, Ukrnafta’s network of gas stations achieved a significant milestone by becoming the leading fuel retailer in Ukraine, surpassing competitors OKKO and WOG.
Orlen is exploring a stake in Ukrnafta to enhance its presence in the Ukrainian market, which is vital for its operations. The company aims to solidify its role as a major fuel supplier amid ongoing negotiations with Ukrainian authorities.