Chevron moves closer to Ukraine gas deal

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

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.