Photo: Serhiy Koretsky / Facebook

Sergiy Koretsky has officially completed his tenure as CEO of Ukrnafta and Ukrtatnafta. He announced the move on his Facebook page on Tuesday, May 13.

Effective May 14, 2025, Koretsky will take over as Chairman of the Executive Board of Naftogaz of Ukraine.

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"I have completed my work at Ukrnafta and Ukrtatnafta. These were extremely challenging years, but we delivered record-breaking results: over UAH 40 billion in net profit, more than UAH 70 billion in total taxes and fees paid, record dividends, and two consecutive years of growth in oil and gas production. We drilled nearly 60,000 meters of new wells and performed hundreds of stimulations, workovers, and hydraulic fracturing operations," he wrote, reflecting on his achievements.

Koretsky had led Ukrnafta, Ukraine’s largest oil company, and Ukrtatnafta, which operates the Kremenchuk Oil Refinery, since November 2022, following the companies' transfer under the control of the Ministry of Defense along with three other strategic enterprises.

Previously, since 2007, he had served as CEO of the Continium Group's management company and, from 2013, was actively involved in developing its retail fuel chain, WOG.

During his time at WOG, the company launched WOG CAFE on Ukraine’s Intercity trains. Koretsky left WOG in October 2018, stating his intention to pursue a personal business project. By September 2019, it became public that he and business partner Ostap Nehoda had founded Centurion Group SA, a trading company based in Switzerland.

He also launched a chain of coffee shops under the Idealist Coffee brand.

  • On December 3, 2024, the Verkhovna Rada appointed former Naftogaz CEO Oleksiy Chernyshov as Deputy Prime Minister – Minister of National Unity. Chernyshov had been serving as Chairman of Naftogaz since November 4, 2022.
  • Roman Chumak, previously Chief Financial Officer of Naftogaz Group, was appointed Acting Chairman of the Board.