Ukraine economy hangs on investments from Chevron, Exxon, Shell


Western oil majors including Chevron (CVX), Exxon Mobil (XOM) and Royal Dutch Shell (RDS.A, RDS.B) likely will reassess deals to drill in Ukraine, where the political crisis threatens a promising source of new profits and the country’s drive for energy independence.

Chevron and Shell signed deals last year to drill unexplored shale formations in Ukraine, and Exxon was close to signing a pact to explore the Black Sea before the crisis erupted last year.

While the oil companies can always spend their money elsewhere, the potential $10B in investment is vital to Ukraine’s quest to pull away from Russian control and revive an economy on the verge of collapse.

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Comments (3)
  • Oldrook
    , contributor
    Comments (29) | Send Message
     
    It would be nice if they could stay with Ukraine and put some much needed hard currency into the country.
    25 Feb 2014, 12:42 PM Reply Like
  • Oldrook
    , contributor
    Comments (29) | Send Message
     
    Would be nice if they could stay with Ukraine and put some hard currency into the economy.
    25 Feb 2014, 12:44 PM Reply Like
  • DonSimon
    , contributor
    Comments (123) | Send Message
     
    Could become an unstable investment swamp when Putin invades and installs a puppet regime. The Ukraine us too important for Putin to allow it to break away from its influence.
    26 Feb 2014, 09:57 AM Reply Like
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