Oleg Chykyda calls the southern supply route unprofitable for ZPEK

The diversification of supply sources remains a key factor in the resilience of Ukraine's fuel market, yet not every import route is equally profitable for operators. Oleg Chykyda, CEO and co-owner of the ZPEK group of companies, set out his position on the southern route at the Petroleum Ukraine Warsaw'26 conference.

According to him, the negative profitability of sales makes this route of no interest to the company.

"The south is a completely different market compared to the west. My calculations show losses on this route. The company has the financial resources to enter the south, but sees no point in it," Oleg Chykyda noted.

Participants in the discussion panel "A Hellish Year: How to Operate Amid a Permanent Crisis?" agreed that it was precisely the extensive import system that allowed Ukraine to avoid a fuel shortage — both after the full-scale invasion of 2022 and during the escalation in the Middle East in May 2026. The western route also retains an important role because Arctic diesel is available only in northern Europe.

According to the A-95 Consulting Group, last year the ratio of routes for diesel-fuel supply stood at 52% to 48% in favour of the west. Over the first five months of 2026, the western border provided 62% of imports (1.61 million tonnes), while the south accounted for 38% (971 thousand tonnes).

Oleg Chykyda heads the ZPEK group of companies, which entered the fuel-import market in 2023 and, by the end of 2025, had joined the top ten largest importers of diesel fuel and taken fifth place among suppliers by rail.