29 Mar 2024 10:20

Blacksteel Energy exec named chairman of Ukrnafta board

MOSCOW. March 29 (Interfax) - The supervisory board of Ukrnafta, Ukraine's largest oil producer, elected independent director Duncan Nightingale as chairman on March 27, Ukrainian media reported, citing the National Securities and Stock Market Commission.

Ukrnafta shareholders confirmed a new supervisory board on March 6 that includes three elected independent directors - Tim Dodson, Ireneusz Fafara and Duncan Nightingale - and two shareholder representatives appointed by Naftogaz and the Defense Ministry - Roza Tapanova and Lyudmila Daragan, respectively.

Nightingale has over 30 years of experience in the oil and gas industry, and is an international expert in exploration for oil and gas reserves in Latin America, Europe, Africa, and the Middle East, Naftogaz said. He is currently CEO and board member of Blacksteel Energy.

Ukrnafta has a national chain of 537 filling stations, 456 of which are operating.

Naftogaz is Ukrnafta's largest shareholder with a stake of 50% plus one share. In November 2022, the Ukrainian authorities decided to transfer Ukrnafta shares other than those held by Naftogaz to the state for the duration of martial law. Prior to the seizure, companies controlled by Igor Kolomoisky and Gennady Bogolyubov owned about 42% of Ukrnafta.