business ๐ฐ Kazakhstan accuses Big Oil of massive corruption in oil project
Kazakhstan has alleged in a confidential arbitration case that major international oil firms awarded contracts with unjustified cost increases or bribes. This claim involves the development of the Kashagan oilfield by the North Caspian Project consortium, which includes Eni, Shell, and ExxonMobil. The Kazakh government specifically alleges that about a dozen contracts from the 2000s were compromised by bribery or self-dealing. This allegation is part of a larger $160-billion claim against Big Oil over various damages. The tribunal at the Permanent Court of Arbitration in The Hague has not yet issued a decision on these serious claims. ๐ฐ