History2009During 2009 new OKKO filling complexes were opened in Kyiv, Ivano-Frankivsk, Odesa, Zhytomyr, Vinnytsya, Tyach³v (Zakarpattya region), Korosten' (Zhytomyr region), Pyryatyn (Poltava region), Sarny (Rivne region), Pochayevychi (L'viv region), Inkerman (AR of Crimea), Haisyn (Vinnytsya region) as well as two mirrorlike filling complexes in Nerubayske (Odesa region) and Ostrytsya (Chernivtsi region). Altogether 16 new OKKO filling complexes were opened in 2009. The enterprise resources planning system (SAP ERP) was implemented at the Company. The loyalty program FISHKA was launched within OKKO filling complexes network. First convenient stores under the “Tobi” trade mark, which operate outside OKKO filling complexes, were opened in L'viv. EBRD and Concern Galnaftogaz signed an share purchase agreement in relation to Bank's equity infusion into the Company in the amount of USD 50 mln. Chairman of Supervisory Board of Concern Galnaftogaz Vitaliy Antonov was awarded with an Order of Merit of the ²²² degree by the decree of President of Ukraine ¹619/2009 from the 18th of August 2009. The Extraordinary Meeting of Shareholders of OJSC “Concern Galnaftogaz” changed Company's name to Public joint-stock company Concern Galnaftogaz (PJSC “Concern Galnaftogaz”). In September the Company, as a signatory of the United Nations Global Compact, published the report on progress which states that Concern Galnaftogaz supports all principles of the Global Compact. Hrebinky petroleum depot was put into operation in Hrebinky village, Vasyl'kiv district of Kyiv region and measuring out of oil products to filling complexes started by means of tank-truck loading. Prime Minister of Ukraine Yulia Tymoshenko included CEO of Concern Galnaftogaz - Vitaliy Antonov into the Council of Investors within the Cabinet of Ministers of Ukraine. Premium fuel type – “Pulls 95” ad went on the air at few national TV channels. The OKKO web-site became was awarded Grand Prix at “The Best Corporate Medium of Ukraine 2009” contest, in «corporate sites» category, while “The Territory of Universal Service” magazine took second place in «internal corporate edition» category. Sales of Euro Diesel started within OKKO network.
2008 As at the end of 2008, the network of Concern Galnaftogaz reached 288 filling stations, including 260 modern OKKO filling complexes. In particular the network included 2 river OKKO filling stations, which were launched in 2008, one OKKO CNG station, and 103 LPG modules. 15 restaurants of prompt service A la minute are operating at OKKO filling stations. After the expansion in 2008 into new region – Poltava region, Company's filling stations are located in 21 regions of Ukraine and in AR of Crimea. The reconstruction and modernization of Company's petroleum depots was conducted in L'viv, Vinnytsia, Brody, Halych and Hrebinka village in Kyiv region. The second mobile laboratory of oil products' quality control began its operations, therefore, at the end of the year, 7 accredited laboratories of oil products' quality control are operating within Concern Galnaftogaz. For the purpose of better management, Galnaftogaz together with Incom Company commenced the implementation of SAP ERP enterprise management system. In 2008 Concern Galnaftogaz in partnership with the International Organization for Migration (IOM) Mission in Ukraine and the UN country team agency launched the campaign for combating human trafficking in Ukraine. In the rating of socially responsible companies Concern Galnaftogaz took the highest level «À+». The company joined the informational and educational UN campaign in Ukraine Go Green! Also Concern Galnaftogaz is among the best employers in Ukraine in accordance with results of research, conducted by HR Center jointly with Hewitt Associates. The company joined the Pilot project of the information disclosure by the securities issuers in electronic format according to the international standards. OJSC Concern Galnaftogaz is among Central Europe Top 500 companies. 2007 Concern Galnaftogaz gained the lead in the rating of Ukrainian Corporate Governance drawn by Concorde Capital Investment Bank. In May, Concern Galnaftogaz and Raiffeisen Bank Aval signed the loan agreement to the amount of USD 50 mln. and completed the process of joining the Global Compact of UNO. In June, the first OKKO CNG station was opened in Burshtyn of Ivano-Frankivsk region. In July, the first fast-dining restaurant of French cuisine “A la minute” was opened in a network of OKKO filling stations (village of Kalynivka near Kyiv). In December, OJSC Concern Galnaftogaz signed the USD 200 mln loan agreement with EBRD and IFC. The implementation of project of Tobi convenience stores network on OKKO filling stations was launched. OKKO filling stations network introduced a new fuel type in the Ukrainian market – Pulls 95 brand fuel. In 2007 54 new and reconstructed OKKO filling stations were put into operation. Moreover, 30 LPG modules on OKKO filling stations were placed. At the end of 2007, approximately 65,000 OKKO smart cards were issued. Within 2007, the market share of the Company increased to 7.1% (according to this index we moved to the 3rd place from the 5th)
2006
International Auditing Company Ernst & Yîung for the third time carried out the audit of financial statements of the Concern. This year, together with Concern Khlibprom the Company launched a joint project to develop a chain of mini-cafe under the Namynaiko brand. In June, Concern Galnaftogaz signed cooperation agreement with Vasyl Virastiuk, Ukrainian Strongman. In June-August, the Company has fully paid out bonds of the first emission (A, B and C series) for the amount of UAH 30 mln. In July, the first mobile laboratory for fuel and oil products quality was put into operation. Late summer Dun & Brandstreet (D&B) raised the Company's rating to 5A2. In the autumn the Company opened 2 largest filling stations in Ukraine on Kyiv-Chop highway (Kalynivka nearby Kyiv and on the road to Chop customs). In November, the company repaid a loan from the European Bank for Reconstruction and Development, which was provided in 2001, for the expansion of the OKKO network in Kyiv. At the end of the year, the company started a procedure of joining the Global Compact, a UN initiative for human rights, labour conditions, environment protection and anti-corruption activities. In 2006, the network was extended by 42 new and reconstructed OKKO fuel filling complexes and additional 19 complexes were opened in early 2007. 30 new LPG modules were put into operation. By the end of 2006, the number of OKKO stations offering LPG reached 42 sites. In Burshtyn, Ivano-Frankivsk Region, the Company started the construction of its CNG station. By 2006, 43,000 OKKO fuel cards had been issued.
2005
It is the second time Ernst & Yîung International Auditing Company carries out the audit of financial and economic activity of Concern for the previous year. In March-May, Austrian Company CATRO International Management Consulting together with Lviv Consulting Group carried out the personnel auditing of Concern Galnaftogaz aimed at detection of management potential, their strenghts and opportunities for further development, as well as Company ability to successfully accomplish the strategic development program on the Ukrainian market in general, at the same time complying with European standards. In May, rating committee of Credit-Rating agency defined credit rating of OJSC Concern Galnaftogaz borrower/contractor at uaA level, as well as credit rating of instrument of indebtedness (issue of D, E, and F series bonds) at uaA level. In June-August Concern Galnaftogaz carries out second bond issue (D, E, and F series) to the amount of UAH 90 mln.; issue underwriter is ING Bank Ukraine, financial consultant is Universal Investment Group. In summer, shares of OJSC Concern Galnaftogaz gained the lead in shares selling on PFTS stock exchange. On July 22, Concern Galnaftogaz and International Financial Corporation (World Bank Group) signed loan agreement to the amount of USD 25 mln. for a seven-year period. On November 29, Concern Galnaftogaz signed similar loan agreement with European Bank for Reconstruction and Development to the amount of USD 25 mln. Credit funds were used for the development of OKKO network in Ukraine: construction and purchasing of new filling stations, reconstruction of operating filling stations with bringing them into compliance with OKKO standards, reconstruction of the Company’s petroleum storage depots. On December 6, Concern Galnaftogaz depositary receipts were listed on electronic trading system XETRA of Frankfurt Stock Exchange. As of December 31, 2005 the Company’s consolidated assets (national standards of financial reporting – USBO) made UAH 792.9 mln., consolidated net profit amounted to UAH 37.6 mnl. At the end of year 2005, OKKO filling stations network comprised 116 up-to-date complexes; general network of the Concern’s filling stations included 174 filling stations. Approximately 32,000 OKKO-card smart-cards have been issued.
2004
International auditing company Ernst & Young carries out unqualified audit of financial and economic activities of the Concern for the year 2003. All financial ratios of the Company are maintained in accordance with international and national standards. As of December 31, 2003, consolidated assets of the Company acknowledged by the audit (Ernst & Young) are worth UAH 336.1 mln., net profit for the year 2003 amounted to UAH 11.1 mln. In the same year, a project of Improvement of Corporate Governance Practices is implemented in conjunction with the International Financial Corporation. Owing to its successful completion, the Company was the first among Ukrainian enterprises to develop and implement a Code of Corporate Governance. The Strategic development plan of OJSC Concern Galnaftogaz for 2004–2008 was developed and approved by the Company's shareholders. During 2004, an additional issue of company shares was undertaken, resulting in an increase of the statutory fund by 23% — from UAH 130 mln. to UAH160 mln. During this year the Concern actively cooperates with creditors and involves new partners. Good cooperation on loans with EBRD is under way. In 2004, Raiffeisenbank-Ukraine opens another credit line for Galnaftogaz to the amount of USD 5 mln. for the period of 5 years. Black-Sea Trade and Development Bank signed a loan agreement to the amount of USD 23 mln. with the management of OJSC Concern Galnaftogaz. Maturity of the loan is 7 years. The Company plans to use part of these funds for extension of its own OKKO filling stations network, reconstruction of filling stations and petroleum storage depots of the Concern. In late 2004 the Concern spread to new regions after acquiring FS in Kirovograd, Kharkiv and Novovolynsk, and in Volyn region. Over 25,000 OKKO smart-cards were issued.
2003
OJSC Concern Galnaftogaz wins 5.4% of Ukraine's retail market of oil products. Corporate bonds to the amount of UAH 30 mln. were issued. Another EBRD loan in the amount of 1.3 million dollars is received through Small and Medium Business credit line. The Dun & Bradstreet company rates the Concern at D&B 4À-2. Raiffeisenank becomes the Company's financial partner. An invitation to bid for purchase of filling stations and land plots for filling stations throughout Ukraine is announced. The Company's statutory fund is increased to UAH 130 mln. The OKKO network includes 76 filling stations. A program for Improvement of Corporate Management Practices at OJSC Concern Galnaftogaz is launched in conjunction with the International Financial Corporation (IFC). Besides, the Company starts unification of accounting and management procedures in order to increase the effectiveness of the Company’s management. Over 20,000 OKKO smart-cards were issued already.
2002
The Concern increases its statutory fund to UAH 120 mln. The Concern involves new shareholders such as OJSC Lvivnaftoprodukt, OJSC Vinnytsianaftoprodukt, OJSC Rivnenaftobaza. The network includes 160 filling stations. By the end of 2002 OKKO FS network included 55 filling complexes. While the Company's own retail network was being created under the single trade mark OKKO, retail facilities of five former region oil product companies were integrated (in Lviv, Zakarpattya, Ivano-Frankivsk, Vinnytsia and Rivne regions). The network is further expanded by building new filling stations and reconstructing existing ones. Entry of OKKO trade mark to the capital became a milestone: on December, 20, 2002 there was an inauguration of the first filling station in Chokoliv Boulevard in Kyiv. To increase main business performance, the related enterprises were established to provide construction, transportation and security services for the main business.
2001
On October 30, the merger of OJSC Ivano-Frankivsknaftoprodukt, OJSC Zakarpatnaftoprodukt-Uzhhorod and OJSC Zakarpatnaftoprodukt-Khust resulted in the establishment of Open Joint-Stock Company Concern Galnaftogaz. It was one of the few cases when the structure, the market and integrated property complexes of former regional oil product companies were preserved. The company had a statutory fund of UAH 54 mln. The Concern launched one of its first successful projects — noncash payments for fuel and services via OKKO fuel smart-cards. As Concern Galnaftogaz has constantly increased the scope of its activities and invariably executed obligations it has assumed, this company has become one of the major operators on the oil product markets of Ukraine's Western and Central regions. To extend the network in other regions, separate enterprises were established: Resurs-2 in Kyiv, CJSC Terra-Petroleum in Ternopil region. First loan provided by EBRD (European Bank for Reconstruction and Development) in the amount of USD 1.2 mln. was received through Small and Medium Business credit line.
1998
Financial and Investment Energy Holding (F.I.E.H.) (the Concern's major shareholder) becomes the owner of the control stock of these companies.
1995–1998
Similar enterprises are established in Zakarpattya region. Enterprises in Ivano-Frankivsk and Zakarpattya regions are reorganized into Open Joint-Stock Companies.
1993
History of OJSC Concern Galnaftogaz started August 31 when regional production and commercial company Ivano-Frankivsknaftoprodukt was registered in Ivano-Frankivsk. Though, structurally this enterprise includes units, which have been operating in the market far longer. In particular, a petroleum storage depot in Dolyna, Ivano-Frankivsk region, has been in operation since 1936. In 1994 regional production and commercial company Ivano-Frankivsknaftoprodukt was reorganized into CJSC Ivano-Frankivsknaftoprodukt.
| 
