Oil majors that operate the Karachaganak field in Kazakhstan, including Eni (E) and Shell (SHEL) lost an international arbitration case, leaving them liable to pay as much as $4B in compensation to Kazakhstan’s government, Bloomberg’s Nariman Gizitdinov reports, citing people familiar with the matter. The court has yet to rule on the specific amount the field’s partners will be ordered to pay, and the Karachaganak venture could still appeal the decision, the author notes. Other partner companies involved in Karachaganak include Chevron (CVX), Lukoil (LUKOY), and KazMunaiGas.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on E:
- Nvidia Stock (NVDA) Slips despite Launching New AI Tools for Weather Forecasting
- Eni Buys Back €40 Million of Shares, Lifting Treasury Holdings to 6.2% of Capital
- Eni Details January 5–9, 2026 Tranche of Ongoing Share Buyback
- Eni: Solid Strategic Execution but Full Valuation Leaves Risk-Reward Balanced at Hold
- Eni price target raised to EUR 19.50 from EUR 18 at Jefferies