Tymoshenko cancels Vanco energy licence

The Ukrainian Prime Minister, Yulia Tymoshenko, cast a shadow over a strategically important hydrocarbon exploration project, 12 May 2008, openly accusing a US energy company leading the venture of holding backroom talks with Russia's Gazprom. Announcing her government had repealed an exploration licence off Ukraine's Black Sea coast for Houston-based Vanco Energy, the Prime Minister also raised the stakes in a longstanding rivalry with Viktor Yushchenko, Kiev's president.

Vanco Energy: Press Release, 19.10.07: Vanco Signs Ukraine’s First Deepwater Black Sea Agreement http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20071019005148&newsLang=en

Website: Vanco Energy Company http://www.vancoenergy.com/

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