Business News

Pinchuk buys shares of an oil and gas company Regal Petroleum, the mining the gas in Ukraine

The oligarch is interested in two major fields in Poltava and Kharkiv regions


In early March, 2019, it became known that the Ukrainian billionaire Victor Pinchuk buying shares of the British oil and gas company Regal Petroleum with assets in Ukraine, writes the Daily Mail. However, to get full control over it, the oligarchs should first negotiate with Vadim Novinsky and Andrey Klyamko. They currently own 52% of the shares of the British company.

As reported in the Daily Mail, Pinchuk was trying to make a deal even back in 2011. Then the media found out that the oligarch is the ultimate beneficiary of the company Kelda Limited, which acquired a 24% stake in Regal of the company Mikhail Fridman of Alfa Group. At the end of last February Kelda increased its share to 29%, but after the publication in the media has reduced its participation to 6%.

Regal Petroleum was founded in 1996 and is now a controlled member of the group “Smart-holding” Vadim Novinsky’s Smart Energy. It develops Sviridov and mekhedovsko-golotovschinskoye gas fields in the Kharkiv and Poltava regions, and its shares are listed on the stock exchange’s “Alternative investment market” (AIM) at the London stock exchange.

According to estimates Smart Energy, announced in August last year, the gas reserves in these two fields are estimated at 6.2 billion cubic meters the Volume of prospective resources amounts to 3 billion cubic meters of natural gas.

About the author


Leave a Comment