Chevron is about to leave Ukraine


Chevron Corp. may pull out of a shale-gas project in western Ukraine…

“There is information that they plan to exit” the Oleska production-sharing agreement, leaving Ukraine without any shale-gas projects, Valeriy Chaly, deputy chief of President Petro Poroshenko’s administration, told reporters today in Kiev.

The second-largest U.S. energy producer terminated the agreement because Ukraine failed to simplify taxation rules by a Nov. 18 deadline, the Kiev Post reported, citing Chevron country manager, Peter Clark. Chevron’s press service declined to comment further.

Also, Royal Dutch Shell Plc halted operations and withdrew all personnel from the Yuzivska exploration project field in eastern Ukraine in June, as fighting with pro-Russian separatists intensified.


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