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Article: Ukraine: Tymoshenko cancels Vanco contract in fight with Yushchenko.

Article from:
TendersInfo
Article date:
May 23, 2008
Copyright

Byline: sander03

The Cabinet of Ministers led by Prime Minister Yulia Tymoshenko declared on May 21 it will terminate the Ukrainian government s production sharing agreement with Vanco Energy Co. to explore oil and natural gas in the Black Sea shelf and share the proceeds.The decision followed a May 20 order from Ukraine s prosecutor general to reinstate Vanco s license to extract oil and natural gas, escalating a conflict that has become a battleground between Tymoshenko and President Viktor Yushchenko in their ongoing war.

Tymoshenko has characterized the Vanco deal as a scheme, and was undaunted by possible penalties. Even if some kamikaze turns to ...

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