Kashagan oil operator says arbitration blocks Kazakhstan from enforcing fine
XLE•Arbitration restrains enforcement of fine
ALMATY, July 16 (Reuters) - The operator of Kazakhstan's Kashagan oilfield said on Thursday that an international arbitration has issued a restraining order prohibiting Kazakhstan from measures to enforce an environmental fine.
Kazakhstan had set July 20 deadline for payment
Kazakhstan's Justice Ministry said on Tuesday that the operator of the Kashagan oilfield must pay the fine of 2.3 trillion tenge ($4.90 billion) by July 20.
Kashagan's operator, the North Caspian Operating Company (NCOC), is a joint venture of Shell, TotalEnergies, ExxonMobil and China's CNPC, among others.
