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Tuesday, 8 August 2017

Kazakhstan: US sanctions will not affect oil projects

Kazakhstan: US sanctions will not affect oil projects:

"New US sanctions against Russia will not affect multi-billion dollar oil projects in Kazakhstan backed by Chevron, ExxonMobil and other western energy majors, the country’s economy minister has said. Fresh sanctions against Moscow signed into law by President Donald Trump this week directly target Russian energy export pipelines, raising fears that oil from Kazakhstan, which is exported along the Caspian Pipeline Consortium (CPC) pipeline that runs through Russia to the Black Sea, could be affected. “The pipeline, which links our oil to the seas, in particular, to Novorossiysk, is not covered by the sanctions. American companies, such as Chevron, who are also shareholders of the CPC, have themselves obtained from their parliament that such transit pipelines be excluded from sanctions,” minister of national economy Timur Suleimenov told reporters. “Therefore, in this case, the delivery of our oil to foreign markets will not be affected.”"



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