Kazakhstan’s big Tristan test

Kazakhstan is risking the ire of international lenders and emerging market investors if its dispute with Tristan Oil gives way to a default by the company on its Eurobond. Penalising bondholders will be a huge blow to all the efforts the government has made in the last three years to regain the trust of foreign investors.

  • 27 Jul 2010
In the latest chapter in the long running dispute between Kazakhstan’s Tristan Oil and the government over tax claims, Kazakhstan’s ministry of oil and gas last week submitted formal notifications to Tristan Oil’s two operating companies, Kazpolmunay (KPM) and Tolkynneftegaz (TNG), that it had cancelled their subsoil use ...

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