Kazakhstan takes global majors to court over oilfield revenues

- Business - April 11, 2023
Hafsa Mustafa from GCU Lahore.

Kazakhstan on Tuesday said it had begun international arbitration court proceedings against energy majors including ExxonMobil and Shell over $16.5 billion (15.2 billion euros) in costs deducted from the revenues from two oilfields. 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.