Ukraine has a long history in the oil and gas business and has been producing oil and gas since the 1880s. Despite being a net importer of oil and gas, Ukraine is a significant gas producer. According to The World Fact Book, estimated oil production in 2012 was 80,400 barrels per day, ranking Ukraine the 52nd in the world in oil production. With a population of about 44.3 million, GDP per capita was estimated at US$7,400 in 2012. The Ukrainian oil and gas industry is dominated by state-owned companies. Private and foreign investors are increasingly seeking opportunities in the country and are being actively encouraged to do so by the Ukrainian government as a result of its energy strategy aimed at substantially increasing domestic production. Naftogas is the largest of the Ukrainian state-owned companies and it dominates exploration and production, as well as main oil and gas pipelines, gas processing, the import and transit of gas, and gas distribution in Ukraine. Naftogas has entered into agreements with many foreign companies to enable an acceleration of hydrocarbon development in Ukraine.
- Natural Gas reserves: about 617.3 billion cubic meters
- Gas production: 18.6 billion cubic meters
Source: BP Statistical Review of World Energy 2015 - data for 2014