Gerus: hydrocarbon production in Ukraine is a "closed club", it slows down the sector

Chairman of the Energy Committee of the Verkhovna Rada Andriy Gerus believes that Ukraine's gas and oil production industry is harmed by its secrecy. He said this on Wednesday at the United by Mining 2025 forum.

"If you look at our gas production and oil production, it is a kind of closed club with a limited number of Ukrainian businessmen. And unfortunately, we do not have international strategic serious investors who can bring capital, technology and achieve some breakthrough results. And this is not good because it hinders competition," Gerus said.

He added that this situation arose "because of certain regulation and certain access to such resources," and the state needs the clearest and most transparent rules of the game.

Gerus emphasized that mining remains one of the key sources of Ukraine's GDP, so the problems of this industry are of strategic importance for the country's economy. Creating favorable conditions for investors is the number one priority for the state.

In addition, gas is becoming increasingly important for the power system, as more and more electricity is generated from it, while coal production is declining.

• In 2024, Ukraine produced approximately 19.12 billion cubic meters, which is 2.2% more than in 2023 (18.7 billion cubic meters). In particular, the state-owned Ukrgazvydobuvannya increased commercial gas production by 5% to 13.9 bcm.
• Ukrnafta, the country's largest oil producer, is also controlled by the state.