Kazakhstan invests in massive oil project

Oil
By The Associated Press on June 28, 2012

Kazakhstan has acquired a 10 percent stake in one of the largest oil and gas projects in the world following two years of negotiations with the international consortium developing the field in the Central Asian nation.

BG Group, which remains one of Karachaganak project's main shareholders with a 29.25 percent stake, said Thursday that Kazakhstan paid $2 billion in cash. Kazakhstan is liable for a further $1 billion non-cash consideration.

EnergyGuardian is a subscription energy news service. Sign up below to apply for a free 14-day trial. If approved, you will receive an email from us to activate your account and enable access to this Web site and delivery of our enhanced morning, afternoon and breaking news alert emails.

If you have questions, please email sales@packardmedia.com.

To start your free 14-day trial, fill in the form below.

News from Around the World

Policy

CBO: Carbon tax would cut emissions, slow economy

Source: 
The Hill

A new report from the Congressional Budget Office said a carbon tax could bring in significant revenues and help reverse climate change at the cost of higher prices and lower incomes, The Hill reports.

Link
Policy

Moniz: Time to end debate on climate science

Source: 
The Hill
Energy Secretary Ernest Moniz said he won't debate the validity of climate change science during a meeting with department employees, The Hill reports.
Link
Oil

Kaine, Warner introduce offshore development bill

Source: 
Virginia Business
Sens. Mark Warner and Tim Kaine, both Virginia Democrats, introduced a bill that would expand offshore energy development and offer a revenue sharing plan, Virginia Business reports.
Link
Oil

Subcommittee weighs repeal bill for Obama NPR-A plan

Source: 
FuelFix
A House Natural Resources subcommittee held a hearing on a bill that would overturn the Obama administrations reserve management plan for the National Petroleum Reserve-Alaska, FuelFix reports.
Link
Oil

Coffeyville refinery to pay $300K EPA settlement

Source: 
Wichita Eagle
Coffeyville Resources Refining and Marketing agreed to pay a $300,000 settlement with the EPA over allegations that its Coffeyville refinery violated the Clean Air Act, the Wichita Eagle reports.
Link
Policy

Committee proposes 18-percent cut for Interior, EPA accounts

Source: 
E&E News
The House Appropriations Committee proposed giving $24.3 billion to the subcommittee that finances the Interior Department, EPA and similar agencies, an 18-percent cut from fiscal 2013 levels, E&E News reports.
Link
Environment

Wyden, Murkowski press Forest Service to pay rural communities

Source: 
Senate Energy and Natural Resources Committee
Senate Energy and Natural Resources Chairman Ron Wyden, D-Ore., and Ranking Member Lisa Murkowski, R-Alaska, called on the Forest Service to drop its plans to withhold funds from rural timber communities.
Link
Nuclear

NRC admits to leasing too much space for headquarters

Source: 
The Washington Post
The Nuclear Regulatory Commission admitted to leasing more space than necessary for its Rockville headquarters at a hearing before a House subcommittee, The Washington Post reports.
Link
Policy

Biden says climate change, oil traffice pose challenges for Coast Guard

Source: 
The Hill
Speaking at the U.S. Coast Guard Academy commencement, Vice President Joe Biden said the branch will face future challenges from climate change and oil transportation risks, The Hill reports.
Link
Environment

Standardized greenhouse measure for airlines may be delayed

Source: 
Bloomberg
The International Civil Aviation Organization said the development of a standard measure of greenhouse gas emissions for aircrafts may be delayed for more research, Bloomberg reports.
Link
  • © 2013 Packard Media Group LLC
  • All Rights Reserved