Sergii Koretskyi

Sergii Fedorovych Koretskyi (born March 14, 1978, in Lutsk) is a Ukrainian entrepreneur and top manager with experience in the petroleum industry, particularly in the oil production, wholesale and retail trade of petroleum products, and food and retail industries. He was involved in major investment projects and M&A deals. Since November 2022, he has served as the Director of PJSC Ukrnafta and JSC Ukrtatnafta. CEO of Naftogaz of Ukraine (since May 14, 2025).^[1]

Sergii Koretskyi
Born	(1978-03-14) March 14, 1978 (age 47) Lutsk, Ukraine
Alma mater	Lutsk State Technical University, Kyiv-Mohyla Business School
Occupation(s)	Businessman, top manager
Known for	CEO of Naftogaz of Ukraine

Education

In 2001, Sergii Koretskyi graduated from the Mechanical Engineering Faculty at Lutsk State Technical University, and in 2005, from the Business Faculty at the same University. In 2019, he participated in the Executive MBA Program at the Kyiv-Mohyla Business School.

Career

1997–2018: Continuum Group

From 1997-2018, Koretskyi worked at Continuum Group (Lutsk), rising from an analyst to the CEO. In 2002, he became the head of the Western Oil Group Joint Venture, and from 2007, served as the CEO of Continuum's managing company. . In 2013, Sergii became the CEO of WOG, where he developed and implemented business strategies, secured financing, led investor negotiations, and handled M&A transactions. Under his leadership, WOG expanded its activities, including the launch of standalone cafés outside of gas stations.^[2][3]

In 2018, Koretskyi left WOG to focus on developing his enterprise.^[4]

2019–2022: Private entrepreneurship

In April 2019, Sergii founded IDEALIST Coffee Co., a full-cycle coffee company with a coffee shop chain. As of 2024, 10 locations operate in Kyiv.^[5][6]

IDEALIST Coffee Co. owns its coffee roasting facilities and stands as Ukraine's largest producer of drip coffee.

The company had plans to build the country's largest coffee roasting plant in Hostomel, Kyiv region. However, during the occupation of this area, the facilities and part of the equipment were tragically destroyed.

In 2022, IDEALIST Coffee Co. became the coffee supplier for Ukrainian Railways trains.^[7] By the end of 2021, Koretskyi stepped down from his position as a beneficiary of the coffee companies, leaving management to professionals. From August 2019 to November 2022, he co-founded and chaired Centurion Group SA, an energy trader based in Switzerland.^[8]

Since 2022: Director of PJSC Ukrnafta

On November 9, 2022, the General Shareholders' Meeting appointed Koretskyi as the Director of PJSC Ukrnafta and PJSC Ukrtatnafta.^[9][10]

In an interview with NV Business, Koretskyi elaborated on the shareholders' priorities: supporting the Ukrainian Armed Forces, ensuring energy security, and fulfilling social responsibilities.^[11] In 2023, Ukrnafta increased oil and condensate production by 3%, reaching 1.4 million tons, and gas production by 6%, totaling 1.1 billion cubic meters.^[12]

For the first time in the Company’s history, Ukrnafta prepared its financial plan according to the requirements of the Law of Ukraine "On the Management of State-Owned Assets". In 2023, Ukrnafta ranked first in Opendatabot's index of the best extractive enterprises, with a turnover of UAH 95.17 billion.^[13] The Company also reported a net profit of UAH23.6 billion, confirmed by an independent audit conducted by Grant Thornton.^[14]

In 2023, Ukrnafta fully repaid its tax debt of UAH6.9 billion.^[15]

Under Koretskyi's leadership, the company optimisіed costs, modernisіed production,^[16] and launched an investment program to increase oil and gas recovery.^[17][18]

Ukrnafta also expanded its partnerships with international companies to replace obsolete Soviet, Russian, and Belarusian equipment. The сompany started cooperation with the American Petroleum Institute (API) for standardisation and certification.^[19] Moreover, Ukrnafta upgraded its equipment with modern technology, such as electric submersible pumps from Oil Dynamics^[20] and Baker Hughes^[21] and purchased specialised buses^[22] and telescopic loaders.^[23]

In 2023, Ukrnafta had significant growth in its non-fuel segment,^[24] with a 53% increase in non-fuel transactions, reaching 4.6 million, and a 74% increase in revenues.^[25]

Koretskyi prioritized social responsibility, with Ukrnafta providing 1.25 billion UAH in charitable donations in 2023.^[26][27] The company also contributed 100 million UAH toward purchasing 50 armored personnel carriers (APCs)^[28] for the "Steel Border" unit and funded several batches of pickups for the Armed Forces of Ukraine.^[29]

In early 2024, Ukrnafta donated over UAH50 million to purchase 1,000 FPV drones and other military equipment.^[30][31][32] The Ministry of Defence of Ukraine also confirmed in May 2023 that Ukrnafta was meeting all its fuel supply obligations to the military.^[33]

Koretskyi is a consistent supporter of the Ukrainian Armed Forces. For instance, in 2024, on his birthday, he personally donated UAH1 million to the military.^[34]

In October 2024, Duncan Nightingale, Chair of the Supervisory Board of PJSC Ukrnafta, praised the Company's new management team and the implementation of corporate governance principles compliant with OECD standards.^[35][36]

In November 2024, Koretskyi summarised two years of state management at Ukrnafta and Ukrtatnafta. Under his leadership, the company reported approximately UAH 40 billion in profits, contributed nearly UAH 80 billion in taxes to the state budget, and distributed over UAH10 billion in dividends. Key milestones included the adoption of OECD standards, the establishment of an independent Supervisory Board, and advancements in production, such as the drilling of new wells and the first 3D seismic acquisition in a decade.^[37]

Since 2025: CEO of Naftogaz

From May 14, 2025, he took up the position of Chairman of the Board of Naftogaz of Ukraine and began performing the duties of the head of Naftogaz Group.^[38]