Naftogaz

Naftogaz of Ukraine
Native name
Нафтогаз України
Company typeNational joint-stock company
IndustryOil and gas
Founded1991; 33 years ago (1991) (Founded, as Ukrgasprom)
1998; 26 years ago (1998) (Current form)[1]
FounderMinistry of Energy
Headquarters,
Key people
Oleksiy Chernyshov, Head of the Board
ProductsNatural gas, crude oil, condensate, petrol
ServicesPipeline transportation, oil production, gas production, municipal heating
RevenueIncrease 8.163 billion (2018)[2]
Decrease €368.41 million (2018)[2]
Total assetsDecrease €19.228 billion (2018)[2]
Total equityDecrease €13.181 billion (2018)[2]
OwnerGovernment of Ukraine
Number of employees
68,386 (2018)[2]
ParentMinistry of Energy and Coal Mining
DivisionsMining and refinery, transportation, distribution
SubsidiariesUkrGasVydobuvannya, Zakordonnaftogaz, Ukrnafta, Petrosannan Company, Carpatygaz, Chornomornaftogaz, Ukrtransgaz, Ukrtransnafta, Ukrspetstransgaz, Gaz of Ukraine, Naftogaz Trading Europe, Kirovohradgaz, Ukravtogaz, Vuhlesyntezgaz Ukraiiny, Naftogaz-Energoservice
Websitenaftogaz.com, naftogaz-europe.com

Naftogaz of Ukraine (Ukrainian: НАК "Нафтогаз України", Naftogaz Ukrainy; literally "Naphtha-Gas of Ukraine") is the largest national oil and gas company of Ukraine. It is a state-owned company[3] subordinated to the Government of Ukraine.[4] The vertical-integrated company carries out a complete cycle of exploration operations and development of deposits, operating and exploratory drilling, extraction, transportation, and refinement of natural gas and crude oil, supply of natural and liquefied gas to consumers.[5]

Ukraine's system of trunk natural gas pipelines and underground natural gas depots is operated by Ukrtransgaz, a subsidiary of Naftogaz.[6] As of 2009, the company had 38,200 km of high pressure gas transit pipelines and more than 30 billion cubic meters of gas storage capacity. This major gas infrastructure located between Russia and the European Union has led the company to feature prominently in regional politics. Another subsidiary of Naftogaz, Gas of Ukraine, is responsible for domestic gas distribution to the local district heating companies.[7]

Naftogaz is a major Ukrainian employer with 68,386 employees (as of 2018). The former PwC management consultant Andriy Kobolyev took over as CEO after the 2014 Ukrainian revolution tasked with reducing the country's dependence on Russian gas and reforming the company's business practices.

The group is the largest taxpayer in Ukraine. In 2018, revenues of the group consisted of 137 billion of taxes and dividends, which is about 15% of total revenues of the state budget.[8]

  1. ^ "Перевірка". Retrieved 2 May 2016.
  2. ^ a b c d e "ANNUAL REPORT 2018" (PDF). naftogaz.com. Retrieved 13 October 2019.
  3. ^ Ukraine sets gas offer but wants no middleman, Reuters (7-1-2009)
  4. ^ "Cabinet gains control over Naftogaz". www.unian.info.
  5. ^ Laws of Ukraine. Cabinet of Ministers order No. 747: On foundation of National joint-stock company "Naftogas of Ukraine". Adopted on 1998-05-29. (Ukrainian)
  6. ^ "Natural gas transit through Ukraine down 24.8% year on year". Kyiv Post. November 16, 2009.
  7. ^ "Gaz Ukrainy demands urgent payment of debts of heat supply companies". Kyiv Post. October 14, 2009.
  8. ^ "Приніс бюджету 137 млрд: названий найбільший платник податків України" [He brought 137 billion to the budget: named the largest taxpayer in Ukraine]. Obozrevatel News (in Ukrainian). 2019-01-09. Retrieved 2021-04-20.