Kazakhstan on April 11 said it had begun international arbitration court proceedings against energy majors including ExxonMobil and Shell over $16.5 billion in costs deducted from the revenues from two oil fields. The government "has begun international arbitration against the Karachaganak and Kashagan [operating] companies," Energy Minister Almasadam Satkaliev was quoted by the official news agency Kazinform as saying, adding that "the sums are $3.5 billion and $13 billion." To read the original story by AFP, click here.
Kazakhstan Takes Global Majors To Court Over Oil Field Revenues
A Kazakh oil refinery owned by the international joint venture company Karachaganak Petroleum Operating (file photo)