Companies

Europe-bound Kirkuk crude was lowered by 50 cents b to a discount of $3.90 b to Dated Brent.

The launching ceremony of the first stage of the Southern Gas Corridor project was held in Baku on May 29.

Ukraine and the European Union have already agreed to begin tripartite negotiations on the transit of gas to European consumers from Russia.

The delivery method entails specialized equipment and training and higher costs for ship owners and customers.

Earlier Deputy Chairman of Gazprom Alexander Medvedev said he did not understand with whom from the Ukrainian side it is necessary to negotiate on this issue.

Russia has for years been trying to build new gas pipelines that bypass Ukraine such as Nord Stream.

Oil is the financial lifeline for the embattled socialist government of President Nicolas Maduro.

The United States has threatened to impose secondary sanctions on European companies doing business with Iran.

The Russian oil company discusses entering into a new project with KazMunayGas.

The two companies will establish a consortium after completing procedures needed for the agreement to enter force.