For nearly three decades, we have been the go-to source for independent news and analysis of the major oil and gas projects shaping the industry and the people behind them. In recent years, we also have chronicled the industry’s efforts to transition to cleaner energy sources.

Ukraine also stands to lose around $800 million a year if it doesn't renew a gas pipeline deal with Russia, Bloomberg reported.

A Ukrainian news outlet backed away from its report on Thursday that Ukraine had agreed to transit Azerbaijani gas to Europe as a temporary measure after it ends a transit deal with Russia. Two Azerbaijani energy sources also said the report was incorrect.

Ukraine is in talks about supplying Azeri gas to Europe through its network of gas pipelines but hasn’t yet reached an agreement.