Kiev and Privat struggle for Ukrnafta
Ukraine's biggest crude and second biggest gas producer is in popular demand from the government and financial company Privat Group
Kiev’s fight for control of Ukraine’s biggest crude and second biggest gas producer Ukrnafta has attracted media attention this summer. The state-run enterprise Naftogaz Ukrainy owns 50% + one share of Ukrnafta, but the company was until recently controlled by Ukraine’s most powerful financial and industrial company, Privat Group, led by the colourful oligarch Igor Kolomoisky, which owned 42%. Ukrnafta’s success has relied on Privat’s other assets and interests. Ukrnafta’s shareholders met on 22 July to appoint a new chairman of the board, the former BG executive Mark Rollins. He replaces the Belgian Peter Vanhecke, formerly a corporate lawyer, who was appointed in February 2011 but whose co
Also in this section
16 April 2026
Demand for oil is falling because supply cannot meet it, not because it is no longer required
16 April 2026
The continent has an immediate opportunity to make the most of its energy resources by capturing gas that is currently slipping away
15 April 2026
The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order
15 April 2026
The Middle East energy crisis may turn out to be pivotal to the industry’s long-term expansion, but significant challenges still stand in its way
