Sergii Koretskyi may become Ukraine’s new Prime Minister

Naftogaz of Ukraine NJSC CEO Sergii Koretskyi is being considered as one of the main candidates for the position of Prime Minister of Ukraine after the announced government reshuffle. This was reported by MPs and a number of media outlets, citing their own sources.

President Volodymyr Zelenskiy met with Koretskyi on July 12 shortly after announcing the need to renew the Cabinet of Ministers. The President thanked Koretskyi for his work at the head of Ukrnafta and Naftogaz, and also discussed steps to strengthen Ukraine’s resilience and implement an updated political strategy.

“This is an extremely complex area with a major intersection of interests, and it is important that Sergii ensured the protection of Ukraine’s national interests in the activities of these companies,” Zelenskiy said.

The President has not officially announced Koretskyi as a candidate for Prime Minister. No final decision has been made yet. Possible contenders also include Energy Minister Denys Shmyhal, who previously served as Prime Minister, Defense Minister Mykhailo Fedorov and Kharkiv Mayor Ihor Terekhov. At the same time, a number of MPs call Koretskyi the favorite.

What about Svyrydenko?

Current Prime Minister Yuliia Svyrydenko confirmed that she is leaving office. Zelenskyy offered her to lead a new area of work in relations with one of Ukraine’s key international partners. It is reported that Svyrydenko may replace Olha Stefanishyna as Ukraine’s Ambassador to the US.

The resignation of the Prime Minister must be supported by the Verkhovna Rada, after which the entire government resigns. Until the new Cabinet starts working, the current government continues to exercise its powers.

Who is Sergii Koretskyi?

Sergii Koretskyi was born on March 14, 1978 in Lutsk. He studied Mechanical Engineering and Business Economics at Lutsk State Technical University, as well as Oil and Gas Production at Ivano-Frankivsk National Technical University of Oil and Gas.

Koretskyi has more than 20 years of experience in the fuel and energy sector. He headed Western Oil Group JV, served as head of the management company of Continuum Group and CEO of the WOG filling station network.

After leaving the group, he founded Idealist Coffee Co., and in 2019-2022 was co-founder and CEO of energy trader Centurion Group SA.

In November 2022, Koretskyi headed Ukrnafta and Ukrtatnafta after the forced alienation of their shares into state ownership under martial law. In 2023, Ukrnafta received UAH 23.6 billion in net profit, and in 2024, UAH 16.38 billion.

The Naftogaz Supervisory Board elected Koretskyi as CEO on April 29, 2025, and he took office on May 14. In 2025, Naftogaz Group’s revenue increased by 5.7%, to UAH 270.92 billion, while net profit decreased from UAH 37.91 billion to UAH 5.83 billion.

Among Koretskyi’s key challenges as Naftogaz CEO was preparation for the 2025-2026 heating season, including raising funds for gas imports. As a reminder, in 2025 Ukraine imported almost 6.5 bcm of natural gas, the highest volume in 5 years. In addition, Koretskyi’s tasks included restoring production after Russian attacks on gas production infrastructure.