Lates News

The CEO of Royal Dutch Shell (SHEL.N) company stated that due to lawsuits filed by Kazakhstan against oil giants, involving potential amounts of tens of billions of dollars, the company will suspend its investments in Kazakhstan. It is reported that Kazakhstan is seeking compensation from several Western oil companies through its national courts and international arbitration institutions for multiple cases. The disclosed lawsuit this month involving Shell and its partners could lead to a compensation amount of up to $4 billion. In addition, lawsuits regarding excessive sulfur emissions and project costs are still ongoing. The CEO of Shell stated, "This indeed affects our willingness to further invest in Kazakhstan." Although the company believes there are plenty of investment opportunities in the future, "we will wait to make a decision until there is a clearer judgment."