Reuters: Ukraine queries shale deals as Yanukovich era under scrutiny

Commercial deals concluded by Ukraine during the presidency of ousted Viktor Yanukovich are coming under scrutiny, with lucrative gas projects involving Western companies among the first, Reuters reports.

Some Ukrainian lawmakers have called for the new government to examine how, without significant financial outlay, a small Kiev-based consultancy founded by three former employees of state energy company Naftogaz received interests in shale gas projects led by Shell (RDS.A, RDS.B) and Chevron (CVX) worth hundreds of millions of dollars.

Shell and Chevron came in to the ventures in 2013, promising to spend hundreds of millions of dollars on exploration in return for their stakes.

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Comments (2)
  • cymbalta
    , contributor
    Comments (314) | Send Message
    Oops. RDS and CVX might look a little shady right now.
    4 Mar 2014, 01:55 PM Reply Like
  • User 353732
    , contributor
    Comments (5168) | Send Message
    Ukraine needs Big Oil far more than the former needs the latter.
    Shale oil and gas can make a very big difference to Ukraine but the prospects for commercial development are now remote.
    4 Mar 2014, 02:57 PM Reply Like
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