Kremenchuk CHPP to be managed by Ukrnafta

The Ukrainian Cabinet of Ministers has recommended reviewing the transfer of corporate rights of Kremenchuk CHPP LLC to be managed by PJSC Ukrnafta during martial law.

The National Securities and Stock Market Commission was advised to study this by October 26, according to directive No. 1033-r dated October 22, 2024, published on the government portal.

The Ministry of Defense owns 100% of the CHPP's shares.

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 545 filling stations – 460 of its own and 85 under management.

The company is implementing a comprehensive program to renew operations and modernize the format of its filling stations. Since February 2023, Ukrnafta has been offering its own fuel vouchers and NAFTA Cards, which are sold to both legal entities and individuals through Ukrnafta-Postach LLC.

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.