Energy

Friday, February 23

Last year, Ukraine’s energy sector delivered ₴115B to the budget.

Last year, Ukraine’s energy sector delivered ₴115B to the budget. This total refers to contributions from the payment of excise duty and rent of energy sector enterprises, which are 17% more than in 2022, reported DiXi Group. It is noted that the taxpayers remitted ...

Thursday, February 22

Western oil and gas companies generated record profits due to the Russian war in Ukraine.

Western oil and gas companies generated record profits due to the Russian war in Ukraine. The five largest Western oil and gas companies, including Shell, BP, Chevron, ExxonMobil, and TotalEnergies, have made more than $281B in profits since the beginning of Russia’s full-scale invasion of...

Wednesday, February 21

Oil refining in the Russian Federation has fallen to an almost six-month low, but sanctions are not the reason.

Oil refining in the Russian Federation has fallen to an almost six-month low, but sanctions are not the reason. Oil refining in the Russian Federation has continued to fall over the past week as the aggressor country’s refineries grapple with the aftermath of Ukrainian drone attacks. Refinery production f...

Monday, February 19

Ukrainian gas storage facilities have allowed EU companies to save more than $300M.

Ukrainian gas storage facilities have allowed EU companies to save more than $300M. European traders earned about $320M thanks to underground gas storage in Ukraine. In response to overflowing gas storage capacities elsewhere, European traders directed three billion cubic meters of g...

Friday, February 16

The EU will not extend the contract to transit Russian natural gas through Ukraine.

The EU will not extend the contract to transit Russian natural gas through Ukraine. As European Commissioner for Energy Kadri Simson stated: “We are not interested in extending the tripartite gas transit agreement, which expires at the end of this year.” According to her,...

Thursday, February 15

Due to an unresolved export issue, Ukrainian biomethane producers are shutting down their production.

Due to an unresolved export issue, Ukrainian biomethane producers are shutting down their production. According to the top manager at Gals Agro, the cost of biomethane production in Ukraine is over €600 per 1,000 cubic meters, often in the range of €800–€900. In comparison, natural gas costs approxima...

Wednesday, February 14

Ukraine will develop a market for energy conservation systems with investments totaling more than $500M.

Ukraine will develop a market for energy conservation systems with investments totaling more than $500M. In 2023, transmission system operator Ukrenergo issued a record 11 sets of technical requirements for the construction of industrial energy conservation systems. In particular, the largest fuel compan...

Monday, February 12

Fossil fuel remains the leader in Ukrainian energy consumption.

Fossil fuel remains the leader in Ukrainian energy consumption. Gas remains the leader in Ukrainian energy consumption, with 30% of the balance of consumption of Ukrainian energy enterprises. In second place is nuclear energy, which produces 24% of the country’s e...

Friday, February 9

Ukrainian authorities are preparing to launch the export of biogas to Europe through gas pipelines.

Ukrainian authorities are preparing to launch the export of biogas to Europe through gas pipelines. The Ukrainian Parliament adopted a procedural draft law on customs clearance of biomethane. The document, adopted in the first reading, proposes the regulations for customs control and customs clearan...

Monday, February 5

A Ukrainian fuel trader will build a wind farm with a capacity of 150 MW.

A Ukrainian fuel trader will build a wind farm with a capacity of 150 MW. The Antimonopoly Committee of Ukraine has allowed the Cypriot company, GNG Retail Limited, which owns the OKKO Group holding, to acquire Wind Power GSI Volyn and Wind Power GSI Volyn 3. These companie...

Thursday, February 1

Sanctions are not an obstacle: Russia exports oil products to the EU through Turkey.

Sanctions are not an obstacle: Russia exports oil products to the EU through Turkey. Before the full-scale war in Ukraine started, the Turkish Dörtyol oil terminal received Iraqi oil and transferred it to tankers. However, since the first sanctions against Russia began to affect the e...

Monday, January 29

Sanctions and drones have finally reached the Kremlin’s oil and gas revenues.

Sanctions and drones have finally reached the Kremlin’s oil and gas revenues. The Rosneft Tuapse Oil Refinery stopped processing oil and as well as the production of petroleum products following an attack by Ukrainian drones. This is Russia’s only oil refinery on the Black Sea ...

The EU plans to abandon the transit of Russian gas through Ukraine after the end of the current contract.

The EU plans to abandon the transit of Russian gas through Ukraine after the end of the current contract. EU executives argue that even the countries that are most dependent on Russian supplies, including Austria and Slovakia, can find alternative sources in the event of a supply cut. Covering the deficit...

Ukraine launched over 660 MW of new RES capacity in two years.

Ukraine launched over 660 MW of new RES capacity in two years. According to Minister of Energy Herman Halushchenko, Ukrainian energy companies built about 312 MW of new RES capacity in 2022 and almost 350 MW in 2023. These figures include solar, wind, biogas, and...

Friday, January 26

Fico wants Russian gas to flow through Ukraine after 2024, but Ukraine dashed these hopes.

Fico wants Russian gas to flow through Ukraine after 2024, but Ukraine dashed these hopes. Slovakia is discussing with Ukraine the continuation of Russian gas transit after the end of the current contract, which expires at the end of 2024, the country’s Prime Minister Robert Fico said...

A relocated company is launching a wind farm in Transcarpathia.

A relocated company is launching a wind farm in Transcarpathia. As Olha Poshtak, the top manager of the Friendly Wind Technology company reported: “The installation of the first wind turbine of the Ostrovsky wind farm, located in the Nizhnyovoritsk community...

Thursday, January 25

The British Stock Exchange and a lobby group will help Ukraine attract investment.

The British Stock Exchange and a lobby group will help Ukraine attract investment. On January 23, the Ministry of Economy of Ukraine signed a memorandum of understanding with the London Stock Exchange (LSE) and TheCityUK, the most influential lobbying group in the UK’s financi...

Wednesday, January 24

Ukraine plans to develop a transparent biofuel market.

Ukraine plans to develop a transparent biofuel market. According to the head of the State Energy Efficiency Agency, Hanna Zamazeyeva, creating a biofuel trade exchange with the Ukrainian Energy Exchange will be essential for developing the industry and en...

Monday, January 22

Ukraine joins the European “Vertical Gas Corridor” and is ready to store 10 billion cubic meters of EU gas.

Ukraine joins the European “Vertical Gas Corridor” and is ready to store 10 billion cubic meters of EU gas. Operators of the gas transportation systems of Ukraine, Bulgaria, Greece, Romania, Hungary, Slovakia, and Moldova signed a memorandum on the creation of the South-North corridor (Vertical Corridor) du...

Wednesday, January 17

The Russian Federation’s monopoly in gas export has rolled back 40 years.

The Russian Federation’s monopoly in gas export has rolled back 40 years. The export of Russian natural gas is decreasing, and the total volume of supplies to foreign markets in 2023 amounted to 69 billion cubic meters. “If Russia could adapt to Western sanctions with oil e...

Friday, January 12

Global green energy capacity has increased by 50%, which will allow climate goals to be achieved by the end of the decade.

Global green energy capacity has increased by 50%, which will allow climate goals to be achieved by the end of the decade. A report from the International Energy Agency notes that the world’s renewable energy production increased by 50% last year to 510 GW. The RES capacity increase set a 22-year record. Such growth...

Ukraine must build over 10 GW of new production capacity in 10 years.

Ukraine must build over 10 GW of new production capacity in 10 years. According to Ukrenergo Chairman of the Board Volodymyr Kudrytskyi, Ukraine can build new power plants and join the European electricity market in less than 10 years. This requires appropriate market a...

Wednesday, January 10

For the first time in 20 years, Ukraine extracted more than one billion cubic meters of gas from new wells in 2023.

For the first time in 20 years, Ukraine extracted more than one billion cubic meters of gas from new wells in 2023. State gas mining company UkrGasVydobuvannya produced more than a billion cubic meters of gas from new wells that were put into operation in 2023. This is the best annual production from new wells sinc...

Thursday, January 4

Analysts predict oversaturation of the oil market in 2024 and a drop in oil prices.

Analysts predict oversaturation of the oil market in 2024 and a drop in oil prices. The increase in oil production in countries that are not part of OPEC+, including the US, may oversaturate global demand, which is growing slowly, and will lead to lower prices. Although the OPEC+ oil...

Wednesday, January 3

Ukrainian underground gas storage has allowed Europe to avoid an energy crisis.

Ukrainian underground gas storage has allowed Europe to avoid an energy crisis. European companies have accelerated the withdrawal of natural gas from Ukrainian storage facilities as the demand for heating increases during the winter. As the FT writes, using Ukrainian storage red...

Friday, December 29

How are industries and businesses in Ukraine implementing the transition to green energy?

How are industries and businesses in Ukraine implementing the transition to green energy? The top manager of SOLAGRO, Serhii Shcherban, said that the transition to alternative fuel sources for grain elevators will continue regardless of price fluctuations for natural gas. According to him,...

Wednesday, December 27

IMF: Resources for clean energy will become more expensive.

IMF: Resources for clean energy will become more expensive. In addition to the influence of geopolitical factors, such as the pandemic or the Russian war in Ukraine, which have already pushed prices up on global markets, additional price increases are expected...

A fuel trader and an agricultural giant plan to invest in green energy generation in Ukraine.

A fuel trader and an agricultural giant plan to invest in green energy generation in Ukraine. By 2025, Ukraine’s largest fuel company, OKKO, plans to build a 150 MW wind farm in the Volyn region. The head of OKKO, Vasyl Danylyak, said that the company purchased an energy storage project ...

Tuesday, December 26

Resources from the Russian Federation account for only 6.5% of energy purchases by the EU.

Resources from the Russian Federation account for only 6.5% of energy purchases by the EU. According to Eurostat, in the third quarter of 2022, Russia accounted for 14.5% of all energy imports to the EU, and in the third quarter of 2023, this figure decreased to 6.5%. In the third quarter, ...

Wednesday, December 20

Russian gas exporters’ profit decreased by three times, while Turkey saved $2B thanks to Russian oil.

Russian gas exporters’ profit decreased by three times, while Turkey saved $2B thanks to Russian oil. According to the results from January – November, Russian gas export turnover fell by three times, the Federal Customs Service of Russia reported. Gas supplies decreased in value by 69%, and in ...

Wednesday, December 13

During the war, three wind power plants with a total capacity of over 200 MW have been built in Ukraine.

During the war, three wind power plants with a total capacity of over 200 MW have been built in Ukraine. Chairman of the Board of the Ukrainian Wind Energy Association (UWEA) Andriy Konechenkov clarified: these are the Tyligul wind farm of DTEK (114 MW, Mykolaiv region), the 60 MW second stage of Element...

Tuesday, December 12

How are restrictions against Russian oil working one year after implementation?

How are restrictions against Russian oil working one year after implementation? After Russia’s full-scale invasion, the gray fleet has accounted for more than half of Russia’s oil exports for the first time. The gray fleet helped Moscow survive the shock of Western sanction...

Thursday, December 7

Receiving €50B in aid from the EU will entail an increase in energy tariffs.

Receiving €50B in aid from the EU will entail an increase in energy tariffs. As the EP writes, Ukraine, within the framework of the Ukraine Facility program, must gradually transition to economically justified energy tariffs by the fourth quarter of 2025. “It is necessar...

Wednesday, December 6

Three EU countries provide €21M for energy-efficient restoration projects, and with the G7+ countries, Ukraine has launched a partnership in clean energy.

Three EU countries provide €21M for energy-efficient restoration projects, and with the G7+ countries, Ukraine has launched a partnership in clean energy. Sweden, Norway, and Finland have announced the allocation of €21.5M in contributions to the Eastern Europe Energy Efficiency and Environment Partnership (E5P) fund, which will support critical municip...

The investment potential of Ukraine’s energy efficiency sector exceeds $27B.

The investment potential of Ukraine’s energy efficiency sector exceeds $27B. This is currently the largest project in Europe for the qualitative reconstruction of communities and the economy based on modern world trends and technologies, explained the head of the State Energy ...

Tuesday, December 5

A Ukrainian private energy company is investing €450M to make its wind farm the largest in Eastern Europe.

A Ukrainian private energy company is investing €450M to make its wind farm the largest in Eastern Europe. The DTEK Group plans to construct the Tyligulska Wind Power Plant in 2025. DTEK and the Danish company Vestas signed a memorandum on the completion of the construction of the largest wind power plant ...

Monday, December 4

Allies are working to increase the protection of the Ukrainian energy system, while Germany is promoting investment in Ukrainian energy.

Allies are working to increase the protection of the Ukrainian energy system, while Germany is promoting investment in Ukrainian energy. NSC representative John Kirby said that the US and its allies are working in three directions to help Ukraine protect its energy infrastructure from Russian attacks. First, the US is strengthening Ukr...

Over 100 countries will triple their use of green energy by 2030, and Ukraine has been advised to develop RES as a profit source after joining the EU.

Over 100 countries will triple their use of green energy by 2030, and Ukraine has been advised to develop RES as a profit source after joining the EU. At the UN climate summit (COP28), the governments of 117 countries pledged to triple the use of renewable energy sources (RES) by 2030 to reduce the share of fossil fuels in global energy production. ...

Ukraine is increasing imports and reducing exports of electricity: November’s results.

Ukraine is increasing imports and reducing exports of electricity: November’s results. According to energy map data, the export of electricity in November amounted to 40,900 MWh, which is 41% less than in October. Last month’s largest volumes were supplied to Slovakia with 43% of ...

The EU approves the hydrogen corridor project from Ukraine to EU countries.

The EU approves the hydrogen corridor project from Ukraine to EU countries. The EC included the hydrogen corridor from Ukraine in the list of joint and mutual interest projects for the European energy system. The European Parliament and the Council of the EU must consider the...

Thursday, November 30

Ukraine has fully synchronized its energy system with the European Union.

Ukraine has fully synchronized its energy system with the European Union. The process of synchronizing the energy systems of Ukraine and the EU has been fully completed, and the capacity for importing electricity from Europe has been increased to 1,700 MW, reported the head...

Wednesday, November 29

Ukraine’s allies provide more support for energy infrastructure and agriculture.

Ukraine’s allies provide more support for energy infrastructure and agriculture. USAID and the Energy Community Secretariat signed an agreement on the US’ €23M grant contribution to the Energy Support Fund of Ukraine. Germany also plans to provide €300M to help Ukraine’s energy se...

Tuesday, November 28

Which enterprises have become the Ukrainian wholesale trade market’s leaders during the war?

Which enterprises have become the Ukrainian wholesale trade market’s leaders during the war? Almost half of the 10 most successful Ukrainian wholesalers are businesses that trade solid, liquid, and gaseous fuels alongside similar products, reported Opendatabot. In particular, Okko, WOG, West ...

Saturday, November 25

War & Business: The Ukraine Business Network has been launched.

War & Business: The Ukraine Business Network has been launched. Tucked away amid the sloping hills of Kyiv, a select group of business investors, representatives, and entrepreneurs gathered at the Parkoviy Congress Center to gain insight into investment prospects ...

Thursday, November 23

The G7+ countries have promised their support for the Ukrainian energy sector and praised the sector’s reforms, which will allow the attraction of private investment.

The G7+ countries have promised their support for the Ukrainian energy sector and praised the sector’s reforms, which will allow the attraction of private investment. US Secretary of State Antony Blinken and the head of Japanese diplomacy, Iwao Horii, held the fourth ministerial meeting in the G7+ format to confirm collective support for restoring and protecting Uk...

Monday, November 20

War has changed the energy landscape: Global trade in liquefied natural gas will grow by another 25% in five years.

War has changed the energy landscape: Global trade in liquefied natural gas will grow by another 25% in five years. LNG trade has already set a record in 2022 but is expected to grow by another 25% in five years to 500 million tons annually, according to the International Energy Forum (IEF). China has overtaken Jap...

Ukraine needs $15B for large-scale energy infrastructure modernization.

Ukraine needs $15B for large-scale energy infrastructure modernization. To increase the capacity and flexibility of the energy system, Ukraine needs about $15B in investment, of which $5.4B would be invested in wind power plants, $2.5B in solar power plants, $2.3B in ther...

Thursday, November 16

Energy for the Recovery of Ukraine conference results: European ministers assure Ukraine of their support, Hyundai will develop power grids, and Denmark provides €7M.

Energy for the Recovery of Ukraine conference results: European ministers assure Ukraine of their support, Hyundai will develop power grids, and Denmark provides €7M. At the conference in Warsaw, the energy ministers of several European countries assured Ukraine they will help in the face of Russian aggression, and the businesses of these countries are interested i...

Madoqua Renewables, a Dutch-Portuguese green chemical company, is investing €900M in the construction of a waste processing plant in Ternopil.

Madoqua Renewables, a Dutch-Portuguese green chemical company, is investing €900M in the construction of a waste processing plant in Ternopil. The plant will produce ecologically friendly green fuel (methanol) from sugar production waste using wastewater. According to the head of the state agency UkraineInvest, Sergiy Tsivkach, the project w...

Wednesday, November 15

Ukrnafta, under state management, has doubled its financial performance.

Ukrnafta, under state management, has doubled its financial performance. Ukrnafta, a state natural gas extracting company, generated ₴95B ($2.6B) in revenue during the first year of operation under state control. This is more than twice the average rate from the last ten y...

Follow us