Arab Energy Alliance is on the verge of releasing a public statement that Ukraine has lost its image as a country attractive for foreign investors.

Poltava oblast' council has denied to issue Arab Energy Alliance a license for commercial development of a field, in which the company has invested $25 million.

CEO Sergiy Burov has stated that if the decision is not made by the end of November and if the draft law #3038 is not supported in the Parliament, the company will be forced to suspend the well and send the staff to the streets.

To remind, in the current year, oblast' councils have disapproved 70% of the applications from the companies for allocation of plots for search and development of oil and gas. In particular, Poltava oblast' council has been issuing only denials (42 applications disapproved).

For more details about the path of foreign investments to Ukraine on the example of Arab Energy Alliance UA, see the source (ru):