Amid rising global prices for oil and petroleum products, fuel companies need ever more working capital. It is precisely access to financial resources that Oleg Chykyda, CEO and co-owner of the ZPEK group of companies, calls one of the critical factors for operating in the market. This was reported by Dengi.ua .
"For the fuel market today, what matters is not only contracts and logistics, but also access to sufficient financial resources. Amid rising global prices for oil and petroleum products, the need for working capital increases significantly. A reliable financial backing from a state-owned bank allows us to import fuel steadily, meet our obligations to partners, and invest in the development of logistics infrastructure," Oleg Chykyda noted.
ZPEK secured these resources by increasing its limit on letter-of-credit operations at Ukrgasbank (UGB) from USD 10 million to USD 17 million. As the company's press service reported, the funds will go toward replenishing working capital, supporting the import of petroleum products, developing rail logistics, and ensuring uninterrupted operations with clients in the Ukrainian market.
A separate area of cooperation with the bank is the formation of its own fleet of railway tank cars. According to Oleg Chykyda, the company has already implemented the relevant project.
"Building our own rolling stock is an important part of strengthening the company's logistical independence. We are not waiting for the war to end — we are already investing today in the development of infrastructure that ensures the stability of fuel supplies and increases the resilience of the country's energy system," Oleg Chykyda added.
The increase in the credit limit was the latest stage in the developing partnership between ZPEK and Ukrgasbank: just this March, the parties signed a memorandum of cooperation.
