Ukraine local council rejects Chevron shale gas deal draft

|About: Chevron Corporation (CVX)|By:, SA News Editor

A Ukraine shale gas deal hits a setback as a local council rejects the government's draft production-sharing agreement with Chevron (CVX +0.4%) amid warnings of environmental damage.

CVX wants to tie up a deal to explore the Olesska shale field in western Ukraine; Shell (RDS.A, RDS.B) has already signed a $10B deal for shale exploration and extraction at the Yuzivska field in the eastern part of the country.