Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

TNK-BP Lobbies Pipeline Reversal

KIEV -- Russian-British oil giant TNK-BP offered Thursday to supply oil for a Ukrainian pipeline that has been largely idle for two years in a move to persuade the government to reverse the planned direction of the flow, the company said.

TNK-BP is proposing to provide some 450,000 tons of oil to Ukrtransneft, Ukraine's state pipeline company, to speed the government's decision as to which direction to operate the Odessa-Brody pipeline, a TNK-BP spokeswoman said.

The proposed volume is the minimum needed for the pipeline to operate and would open the door to some 9 million metric tons of oil from Russian companies if Ukraine agrees to pump it from Brody to Odessa on the Black Sea, spokeswoman Yulia Semenko said.

Ukraine built the 667-kilometer pipeline stretching from Odessa, in southern Ukraine, to Brody in western Ukraine in 2001, but it has remained largely idle amid bickering over whether to accept Russian oil or Central Asian oil, which would flow from Odessa to Brody.