Dubinin changes strategy: buys Akhmetov's agribusiness instead of expanding gas station network

Change of course: from ambitious plans to the agricultural sector

In early 2026, Oleksandr Dubinin, owner of the "Parallel" gas station network, publicly announced a large-scale expansion. His plans involved increasing the number of facilities fourfold — to 350 gas stations — as well as opening a chain of 80 neighbourhood shops. However, events unfolded quite differently: instead of growing, the company reduced its network and is now investing in the agricultural sector.

Serhiy Kuyun, director of the "Consulting Group A-95", drew attention to this shift in priorities. According to his observations, even at the stage of announcing the expansion, Dubinin's plans appeared unrealistic. At that time, "Parallel" was not demonstrating particular success, and the management of existing assets was accompanied by difficulties. Some market players then assumed that the loud statements could have been a tool to reassure creditors and attract new investments.

Network reduction and financial issues

Subsequent dynamics confirmed the expert's sceptical forecasts. Instead of expanding, the number of gas stations in the network decreased from 107 in February to 99 as of 30 October 2026. According to Kuyun's assessment, sales figures remain among the lowest in the industry. Two owners of competing gas station networks told the expert that negotiations regarding the sale of stations with Dubinin did not result in a deal due to the buyer's lack of necessary funds.

It is worth noting that since the publication of the interview, none of the announced neighbourhood shops have been opened. Instead, the company now states that it does not seek to increase the number of facilities for the sake of quantity alone.

Acquisition of HarvEast and asset valuation

A new turn in the business story occurred after Rinat Akhmetov's SCM announced the sale of the HarvEast agroholding to the "Parallel" company. Serhiy Kuyun noted the sharp contrast between previous promises to expand the gas station network and the current decision to enter the agribusiness.

According to Forbes data, the value of HarvEast's assets is estimated in the range of $35 million to $55 million. The expert questioned the sources of financing for such a deal, considering the known financial difficulties of Dubinin's fuel business.

Connection with PUMB and expert irony

Kuyun recalled that in 2021, Dubinin also acquired "Parallel" from Akhmetov's structures. At that time, SCM explained the sale as getting rid of non-core assets, while Dubinin said he had dreamed of owning this network since childhood. A key aspect of that deal was financing through PUMB — a bank owned by Akhmetov.

Today, SCM again cites the need to get rid of non-core assets, and in the "Parallel" press release, Dubinin presents the purchase of HarvEast as an entry into a new market segment. Kuyun assumes that PUMB may be involved in financing the deal this time as well.

Separately, the expert ironically noted that current conditions for agribusiness are supposedly ideal: ports and railway crossings are functioning, export faces no obstacles, and a grain deficit is observed in the domestic market.

«Схоже, хтось знайшов класне місце для складування непрофільних активів» ("It seems someone found a great place for storing non-core assets"), Serhiy Kuyun concluded.