{"id":3060,"date":"2014-12-15T21:23:54","date_gmt":"2014-12-16T02:23:54","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3060"},"modified":"2014-12-15T21:23:54","modified_gmt":"2014-12-16T02:23:54","slug":"chevron-pulls-out-of-10-billion-gas-deal-with-ukraine","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3060","title":{"rendered":"Chevron Pulls Out Of $10 Billion Gas Deal With Ukraine"},"content":{"rendered":"

Chevron Pulls Out Of $10 Billion Gas Deal With Ukraine<\/a>.<\/p>\n

Ukraine\u2019s bid to rid itself of its dependence on Russian energy just took a huge hit.<\/p>\n

Chevron\u00a0announced<\/a>\u00a0that it was pulling out of a deal that it made with the Ukrainian government to develop shale gas in western Ukraine. The $10 billion deal was signed before the ouster of former Ukrainian President Viktor Yanukovych.<\/p>\n

Chevron indicated that it was unsatisfied with the tax regime in Ukraine, after the post-Yanukovych government raised energy taxes. \u201cWe have just terminated that PSA (product sharing agreement),\u201d said Peter Clark, Chevron\u2019s country manager in Ukraine, according to\u00a0Kyiv Post<\/a>. \u201cWhen it was signed, things had to be done, but not all of them got done.\u201d<\/p>\n

The deal with Chevron was signed in November 2013, and called for Chevron to\u00a0invest $350 million<\/a>\u00a0over the first two to three years to develop Ukraine\u2019s Olesska field in the western part of the country. The agreement kept open the possibility of ramping up investments to $10 billion over the course of Chevron\u2019s 50-year lease. The Olesska field was\u00a0expected to produce<\/a>\u00a010 billion cubic meters of gas each year when it was up and running.<\/p>\n

Related:\u00a0Ukraine Sends Russia Huge Advance Payment For Gas<\/span><\/strong><\/a><\/p>\n

But Chevron insisted that it would only move forward if the Ukrainian government simplified a series of tax laws. With no action from Kyiv, Chevron has decided it cannot move forward, and informed the Ukrainian government\u00a0on December 15<\/a>\u00a0of its intention to pull out of the deal.<\/p>\n

<\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Chevron Pulls Out Of $10 Billion Gas Deal With Ukraine. Ukraine\u2019s bid to rid itself of its dependence on Russian energy just took a huge hit. Chevron\u00a0announced\u00a0that it was pulling out of a deal that it made with the Ukrainian government to develop shale gas in western Ukraine. The $10 billion deal was signed before […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,5],"tags":[129,694,723,821],"class_list":["post-3060","post","type-post","status-publish","format-standard","hentry","category-energy-2","category-geopolitics","tag-chevron","tag-russia","tag-shale-oil","tag-ukraine"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3060"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3060\/revisions"}],"predecessor-version":[{"id":3061,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3060\/revisions\/3061"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}