OREANDA-NEWS. July 05, 2010. The Ukrainian court has allowed Regal Petroleum, a large crude oil producer operating in Ukraine, to continue its oil development in Ukraine as usual, despite the ongoing dispute between the company and the Ukrainian government, Regal announced July 2.
Millennium Capital: the news is positive for Regal. The previous consent of the government to allow Regal to operate in Ukraine as usual is now supported by the court ruling. Meanwhile, the company got a good chance to settle the dispute with the government quickly with the appointment of a new Minister of Environmental Protection Mykola Zlochevskyi, who has an interests in the oil refining and retail business in Ukraine.