Chevron Enterprise Faces $300M Fine

Law360, New York (April 18, 2008, 12:00 AM EDT) -- A Chevron Corp.-led oil venture reportedly faces a fine of $307 million by Kazakhstan regulators for allegedly violating environmental laws at an oil production site off the Caspian Sea.

Tengizchevroil, a venture that is half-owned by Chevron and is the largest producer in Kazakhstan, said in a statement that it will challenge the decision, Reuters News reported Friday. The fine is related to storage of open-air sulfur at the Tengiz oil field, reports said.

The conglomerate denied any wrongdoing, Reuters said. The fine would be the...
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