Chairman of the independent Supervisory Board of PJSC "Ukrnafta" Duncan Nightingale participated in the panel discussion of the World Economic Forum in Davos on the topic "Leadership, Competitiveness, Sustainability: Success Stories of Ukraine's Top Investors and Enterprises." Together with representatives of the leading Ukrainian and international companies, he shared examples of successful management and investment in Ukraine.
The main takeaway from Duncan Nightingale's speech:
- Energy independence and financial stability: "Ukrnafta" is one of the leading suppliers of energy resources for Ukraine, even in difficult war conditions. The Company is one of the largest tax, and dividends payers that support the economy and defence.
- Company generation projects: the Company is actively working on projects of power generation with its own gas. It expects to create new, up to 370 MW, capacities.
- International cooperation: Duncan Nightingale thanked the governments of Sweden, Norway, The Netherlands, the United States, and the European Bank for Reconstruction and Development (EBRD) for their support on the path to sustainable development. "Ukrnafta" invites new partners to participate in the ambitious projects, one of the most promising on the market.
"We must invest in Ukraine now. If you wait for the war to end, you may lose the most profitable projects," Duncan Nightingale said.
"Ukrnafta" has significantly strengthened its management system, formed an independent Supervisory Board, and introduced the best international business standards. EBRD's Vice President, Matteo Patrone, noted the transformation results:
"We were able to support Ukrnafta as it demonstrated not only outstanding financial results but real corporate governance. This is Sergii's (Koretsky) achievement and the achievement of the Supervisory Board. If they asked me two years ago if we would support "Ukrnafta", I would have said "No." However, what happened in the last 18 months is simply extraordinary."
"Ukrnafta" will continue to execute sustainable development projects, upgrade equipment, and contribute to strengthening Ukraine's energy independence.
