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Chevron moves closer to Ukraine gas deal

  • Ukraine's government moves closer to a new shale gas deal, as a regional council approves its draft for a production-sharing agreement with Chevron (CVX -0.3%).
  • One locality had sent the draft back to the government last month, but today it voted 62-1 for passage after receiving a commitment to allocate 10% of any gas produced for local consumption.
  • The approval of a second council in a neighboring region is needed before an agreement can be finalized.
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