Ukraine has stripped U.S.-based Trident Acquisitions of the right to explore and develop oil and gas in the Black Sea, prompting Trident to say Ukraine has lost out on $1 billion in new investment. In July, Trident beat two other companies in a tender to develop the Dolphin Block, in the northwest Black Sea. Critics say the two-month tender preparation period was too short and major multinationals were not sufficiently encouraged to participate. However, in July, reports circulated in Bucharest that ExxonMobil plans to pull out of its Romanian offshore project, near the Dolphin Block. In 2014-15, Shell and ExxonMobil pulled out of Ukraine.
Ukraine has stripped U.S.-based Trident Acquisitions of the right to explore and develop oil and gas in the Black Sea, prompting Trident to say Ukraine has lost out on $1 billion in new investment.
