Kazakhstan Accuses Big Oil of $10.7B Corruption in Kashagan Project

Kazakhstan has launched a confidential arbitration case, accusing leading international oil companies involved in the Kashagan oilfield of $10.7 billion in unjustified cost increases and bribes. The allegations, reported by ICIJ, center on contracts awarded during the development of the giant Kashagan field by a consortium including international majors and KazMunayGas. While this is a significant legal development for the oil sector, its immediate impact on global crude prices, and consequently gold or PKR rates, is expected to be limited.

بحوالہ / Source: oilprice.com