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    Home > Finance > Ukraine's Ukrnafta increased oil output by 0.6% in 2024, says CEO
    Finance

    Ukraine's Ukrnafta increased oil output by 0.6% in 2024, says CEO

    Published by Global Banking & Finance Review®

    Posted on January 23, 2025

    1 min read

    Last updated: January 27, 2026

    This image represents Ukrnafta's announcement of a 0.6% increase in oil production for 2024, highlighting the company's resilience in the face of challenges like power outages. It underscores their role in Ukraine's energy sector.
    Ukrnafta's oil production growth by 0.6% in 2024 - Global Banking & Finance Review
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    Quick Summary

    Ukrnafta boosted oil output by 0.6% in 2024, overcoming power outages. Gas production also rose by 6.5%, with Naftogaz reporting increased gas output.

    Ukrnafta Increases Oil Production by 0.6% in 2024 Despite Challenges

    KYIV (Reuters) - Ukraine's largest oil company, Ukrnafta, increased oil output by 0.6% to 1.418 million metric tons last year, CEO Serhiy Koretsky said on Thursday.

    The company also increased gas output by 6.5% to 1.17 billion cubic metres (bcm).

    "Despite prolonged power outages that limited oil production, the company managed not only to compensate for the natural decline, but also to increase oil and gas output," he said on Facebook.

    Ukraine's state-run Naftogaz oil and gas company said last week that it had increased natural gas production to 13.9 bcm in 2024, up from 13.2 bcm in 2023.

    Naftogaz owns 50% plus one share of Ukrnafta.

    (Reporting by Pavel Polityuk; Editing by David Goodman)

    Key Takeaways

    • •Ukrnafta increased oil output by 0.6% in 2024.
    • •Gas output rose by 6.5% to 1.17 bcm.
    • •CEO credits overcoming power outages for the increase.
    • •Naftogaz also reported a rise in gas production.
    • •Naftogaz owns a majority stake in Ukrnafta.

    Frequently Asked Questions about Ukraine's Ukrnafta increased oil output by 0.6% in 2024, says CEO

    1What is the main topic?

    The article discusses Ukrnafta's increase in oil and gas output in 2024 despite challenges like power outages.

    2How much did Ukrnafta increase its oil output?

    Ukrnafta increased its oil output by 0.6% to 1.418 million metric tons in 2024.

    3What challenges did Ukrnafta face?

    Ukrnafta faced prolonged power outages that limited oil production.

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