RealNews

Ukraine cancels contract awarded to Texas company for Black Sea drilling

Despite seeking to reduce its dependence on Russia for energy, Ukraine has torn up a contract awarded to a Texas company to drill in the Black Sea, citing national security and suspicions of murky dealings by the previous government. But the contract holder, Vanco International of Houston, says it is an innocent victim of political infighting and the personal vendettas that have plagued Ukraine since the heady days of the pro-western Orange Revolution in December 2004. Full Story

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