Galnaftogaz to Increase Retail Stations to 330

March 8, 2010

The Ukrainian concern Galnaftohaz plans to increase its chain of retail filling stations by 30 units in 2010, the company’s vice president Yuriy Kuchabskiy said on 4 March.

 

“We will invest in developing our filling stations and plan to build over 30 more in 2010”, he said noting that funds for the expansion would come from credits previously obtained including from the European Bank for Reconstruction and Development.

 

Galnaftogaz will concentrate its efforts in regional centres and large cities.

Kuchabskiy said 2009 had been a difficult year for development as retail sales fell and because of price dumping on the market, which he alleged was spearheaded by stations affiliated with the Pryvat group which controls about 1,550 stations in Ukraine.

Now, he says, Galnaftogaz has the chance to acquire stations with specs that satisfy the company in terms of quality, while during the crisis small oil product traders only sold chains whole parcel, including unprofitable units.

Galnaftogaz is part of the Universal Investment Group and is one of the largest retail filling stations owners in Ukraine. As of 1 March 2009, Galnaftogaz owned 301 units, 278 of which operate under the OKK brand.

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