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Exxon blocks proposal to settle $5B Kashagan dispute - Bloomberg
Seeking Alpha ·
Seeking Alpha reports: ExxonMobil blocked a proposal for partners in the Kashagan oil field in Kazakhstan to make a settlement with the country's government over a disputed $5B billion environmental fine, Bloomberg reported Friday. The status of the penalty has become a central issue in Exxon's negotiations with the government over a proposal to expand production at Kashagan, and the company indicated that a potential $80B new investment in the field would be contingent on settling the…