Transit via Ukraine to Austria may be halted in the near future, according to OMV’s Alfred Stern There is a significant risk of Russian gas transits through Ukraine being terminated, the head of energy giant OMV, Alfred Stern, has said.

Maksim Reshetnikov noted the large disparity in the two countries’ growth rates  Russia may overtake Japan as the world’s fourth largest economy in the coming years, Economy Minister Maksim Reshetnikov stated on Wednesday.

An Arctic storm has reportedly affected the operations of multiple refineries from North Dakota to Texas A severe winter storm shut a US Gulf Coast refinery in Texas on Tuesday, caused a glitch at some other petroleum plants, and halved North Dakota oil production, Reuters reported on Wednesday.