Lates News

The CEO of Shell stated that the company will temporarily suspend its investments in Kazakhstan due to potential lawsuits involving oil giants in the country, with compensation amounts that could amount to billions of dollars. It is reported that Kazakhstan is seeking compensation from several Western oil companies through the country's courts and international arbitration institutions for multiple cases. The disclosed lawsuit involving Shell and its partners could result in compensation of up to $4 billion. In addition, lawsuits regarding excessive sulfur emissions and project costs are still ongoing. The CEO of Shell said, "This does indeed affect our willingness to further invest in Kazakhstan." Despite believing in the existence of numerous investment opportunities in the future, the company will wait for a clearer judgment before making a decision.