Shell withdraws from Ukraine deal near Crimea

|By:, SA News Editor

Royal Dutch Shell (RDS.A -0.5%) says it pulled out of negotiations over an offshore exploration agreement in the Black Sea west of Crimea in January.

The Ukrainian government announced the deal in 2012, but a Shell spokesman says the company still hadn't signed the agreement at the time it pulled out in January, while adding that Shell is still pursuing other Ukraine projects.

Shell was part of a group of companies including Exxon Mobil (XOM) that struck a deal with the Ukrainian government to develop the Skifska oil and gas field.