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Tymoshenko government pulls out of production agreement with Vanco
Journal Staff Report

KIEV, May 21 – Prime Minister Yulia Tymoshenko’s government in a unilateral move on Wednesday, pulled out of the Production-Sharing Agreement with U.S. oil company Vanco Energy, further undermining an important offshore oil project.

The move goes beyond the government’s controversial decision to cancel the company’s oil exploration license, a decision recently suspended by the top prosecutor.




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