Ukrnafta CEO Bogdan Kukura: "We have to be ambitious, particularly in such a competitive market"

In a recent exclusive interview with Interfax-Ukraine, Bogdan Kukura, CEO of JSC Ukrnafta, discussed the company's strategy during the recent Middle East crisis and its impact on fuel prices. Kukura acknowledged that the company played a crucial role in containing fuel prices during the February–June crisis, which disrupted the Strait of Hormuz.

Kukura emphasized that despite the challenges, Ukrnafta managed to maintain lower fuel prices while ensuring the availability of high-quality fuel in frontline regions. This strategy helped expand the company's customer base and increase brand awareness. However, the CEO noted that the financial impact of this decision was difficult to calculate due to the constantly fluctuating international fuel quotes and the company's wholesale sales under formula-based contracts.

Looking ahead, Kukura stated that Ukrnafta remains committed to keeping prices at the lower end of the market, even if subsequent fuel price hikes are expected. The state-owned company aims to generate returns for its shareholder, the State, through higher sales volumes and tighter margins. Kukura highlighted that Ukrnafta is currently performing well, with the UKRNAFTA network holding a leading position in fuel sales according to independent market analysts.

The company has also integrated former Shell stations into its network, which has exceeded expectations. Kukura revealed that the production segment is focusing on increasing output by approximately 40%, and the company is actively seeking investors to help fund these expansion plans. Kukura expressed openness to potential partnerships, including an acquisition by Poland's PKN Orlen, while acknowledging that the company is open to cooperation with other potential investors as well.