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.
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