World's Energy

16 May 2008 - Upstream OnLine - The government of Kazakhstan unveiled a preliminary list of companies subject to a new oil export duty today which, as expected, does not include any Western majors. Kazakhstan will introduce the duty, set at $109.91 per tonne at the current global price level, from May 18, wrote Reuters. The government has said Western oil companies operating under production sharing agreements would be exempt from the new levy. London-listed KazMunaiGas Exploration & Production tops the list of 38 companies published on the Finance Ministry website. The list also includes Kazakhturkmunai and Kazakhoil Aktobe, two companies in which KazMunaiGas was seeking to buy stakes, and London-listed Zhaikmunai. PetroKazakhstan, controlled by China's China National Petroleum Corporation, is on the list as well, but with exemptions for two contracts.