Kremenchug, Ukraine News

The National joint-stock company Naftogaz Ukrainy is having talks with Azerbaijan on oil supplies for processing at the Kremenchuk oil refinery, Naftogaz deputy board chairman Vadym Chuprun was quoted as saying by Ukrinform.

Naftogaz Ukraine National JSC and SOCAR conduct talks to supply two more million tons of oil to Ukraine per year, Ukrinform reported on Tuesday referring to the chief executive officer of SOCAR's trade mission - SOCAR Trading, Valeria Golovushkin.

A'First meeting of working group on energy projects created under the decision of Ukrainian and Azerbaijani PresidentA's Council will be held in BakuA', said the diplomat.

Russian state-run gas company Gazprom has agreed to cut gas prices for Ukraine, ending the deadlock between the two countries.

According to Azerbaijani State Statistics Committee, in January 2010, trade turnover between the countries amounted to about $72 million.