KIEV, Nov. 26 - Shell has decided not to proceed with a recently signed Memorandum of Understanding for exclusive negotiations with Regal Petroleum plc and potential $410-million deal regarding Ukraine assets, Shell said in a statement.

"Shell recently signed a memorandum of understanding (MOU) for exclusive negotiations with Regal Petroleum plc regarding Ukraine assets and we see from the new management's comments that they may have changed their thinking on this transaction,” the statement said.