Russia and Ukraine moved closer to a preliminary gas agreement—valid for this winter only—as the EU brokers a truce in a dispute that was set to disrupt flows during the coming months.
With a new 30-year contract worth US$400 Billion, Russian energy company Gazprom landed one of the biggest gas deals in history with China.
A recent report from GlobalData forecasted that the Former Soviet Union (FSU) will spend about $9.8 billion on new refining capacity between 2014 and 2020 to add more than 400,000 barrels per day.