Vietnam's state-owned PetroVietnam (PVN) today agreed an initial financing deal with the Korea Trade Insurance Corporation, also known as Mubo, to strengthen and streamline South Korean companies' participation in natural gas projects with PVN and its subsidiaries.

Russia's oil and gas revenue in June is set to rise by more than 50% year on year to $9.4 billion, Reuters calculations showed, after a decrease in subsidies to refineries and reflecting the Russian economy's ability to limit the impact of sanctions.

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A rise in European wholesale gas prices over the past several months could encourage more utilities to switch to coal for electricity generation this coming winter, even as countries try to push the carbon-intense fuel out of the power mix.