Chevron-Led Oil Venture Fined $609M

Law360, New York (October 3, 2007, 12:00 AM EDT) -- The Kazakhstan government has reportedly hit a Chevron Corp.-led oil venture with a $609 million fine for illegally stockpiling sulfur at the Tengiz oilfield in the western part of the country.

Kazakhstan's Ecology Minister Nurlan Iskakov said Wednesday that the fine was imposed for various violations, including that Chevron was too slow to clean up vast sulfur stocks, Reuters reported.

“Any company that does not fulfill ecological requirements will be dealt with in the harshest way,” Iskakov said, according to Reuters.

“In the past the violations...
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