Gulf Oil and Gas accountACCOUNT

Administrative Fine of 327.9 billion Tenge Dismissed by Court

Source: www.gulfoilandgas.com 3/19/2014, Location: Asia

Share |
JSC KazMunaiGas Exploration Production (“the Company”) is pleased to announce that the Specialized Administrative Court in Aktau of Mangistau region (“the Court”) has ruled that the Act on inspection results of the Department of Ecology of Mangistau Region (“Department of Ecology”) and the claim for environmental damage in the amount of 327.9 billion Tenge (US$ 1.8bn), which has been brought against JSC “Ozenmunaigas” (“OMG”) and referred to in the Company’s press release dated 27 February 2014 have been declared as illegitimate and have been dismissed.

There remains the possibility that the Court's ruling may be appealed by the parties and the prosecutor’s office. However, given the positive outcome of previous appeals, the Company believes that OMG will successfully appeal this claim in following court proceedings.

Financials and Investment News in Kazakhstan >>

Bermuda >>  1/23/2017 - Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (TGP) announces that it intends to issue new senior unsecured bonds in the Norwegian bond mar...
Venezuela >>  1/22/2017 - The Minister of Popular Oil, Nelson Martinez, offered statements following his first meeting of the OPEC Joint Monitoring Ministerial Committee and no...

United States >>  1/20/2017 - Schlumberger NV said that it does not expect a "dramatic" short-term recovery in international markets, compared with North America where shale produc...
Brazil >>  1/19/2017 - Petrobras will receive approximately R $ 81 million from the British company Rolls-Royce, which entered into a leniency agreement with the Federal Pub...

Gabon >>  1/19/2017 - Pura Vida Energy has entered into a conditional term sheet with a rig contractor to fund the costs of a three well, back to back drilling program on t...
Saudi Arabia >>  1/19/2017 - Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups, reported that its quarterly profit rose from a year earlier for...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Kazakhstan Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 |

More News

 

Oil & Gas Companies in Kazakhstan >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.