Oil Majors Restart Talks With Kazakh Government on $5 Billion Kashagan Sulfur Fine
- Companies propose new settlement to long-running dispute
- State is seeking $5 billion penalty from Kashagan partners
The proposal comes as Kazakhstan’s Supreme Court may issue a preliminary ruling rule on the dispute this week.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Partners in the giant Kashagan oil field have restarted talks with the Kazakh authorities aimed at settling a potential $5 billion environmental fine, according to people familiar with the matter.
Oil majors including Eni SpA, Shell Plc, Exxon Mobil Corp. and TotalEnergies SE have drafted proposals related to allegations they stored too much sulfur at the field, the people said, asking not to be named because the talks are private. The proposal comes as Kazakhstan’s Supreme Court may issue a preliminary ruling rule on the dispute this week, the people said.