4 October 2007
The Kazakh government fined an oil consortium led by Chevron for over half a billion dollars earlier this month in a move that some view as the government's attempt to pressure international oil companies to provide it with greater oil revenues.
The Kazakh government fined an oil consortium led by Chevron for over half a billion dollars earlier this month for ecological violations at the Tengiz oilfield. This is a second consecutive fine for foreign oil companies in Kazakhstan, following the fine and termination of work at the Kashagan oilfield by the Eni-led consortium. This action comes ahead of a visit by Italian Prime Minister, Romano Prodi, to Astana, to try to resolve the dispute between Eni-led consortium and the Kazakhstan government. Some view the environmental violations as an attempt to pressure international oil companies to provide greater oil revenues to the Kazakh government.
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