Energy company puts shale gas ambitions in Ukraine on hold because of a tough investment climate. UPI/Gary C. Caskey LONDON, Jan. 7 (UPI) — The economic climate in Ukraine is no longer conducive to continue investing in shale natural gas opportunities, producer JKX Oil & Gas said Wednesday. “The board of JKX has decided that the combination of Ukrainian Government-imposed restrictions on selling its gas to industrial clients and the punitive rate of gas production tax requires the company to suspend its planned 2015 capital investment program in Ukraine until the economic parameters for investment improve,” it said in a statement. The company in August said new budget measures passed by the Ukrainian government means higher taxes for the oil and gas industry in the country. The most significant, it said, was a move to nearly double the tax on gas production to close to 55 percent. In its […]