Ukraine’s Ukrnafta increased its oil production by 0.6% in 2024, according to its CEO -January 23, 2025 at 12:22

Ukraine’s largest oil company Ukrnafta increased its oil production by 0.6% to 1.418 million metric tons last year, CEO Serhiy Koretsky said Thursday.

The company also increased its gas production by 6.5% to 1.17 billion cubic meters (bcm).

“Despite prolonged power outages that limited oil production, the company managed to not only offset the natural decline, but also increase oil and gas production,” he said on Facebook.

Ukraine’s state-owned oil and gas company Naftogaz said last week it had increased its natural gas production to 13.9 billion cubic meters in 2024, from 13.2 billion cubic meters in 2023.

Naftogaz owns 50% plus one share of Ukrnafta.