Kazakhstan cancels contract with Shell and Eni State takes charge of building processing facility at Karachaganak field.

State takes charge of building processing facility at Karachaganak field. Bne IntelliNews #Kazakhstan #Shell #Eni #Karachaganak #OilAndGas

Kazakhstan terminates current Karachaganak gas plant plans, seeks domestic partners Investing.com -- Kazakhstan’s energy ministry announced on Wednesday it has terminated plans for a gas processing plant at the Karachaganak field that would have involved the field’s current operators. The ministry stated it is now looking to engage domestic companies in the project instead, though no further details were provided about this new direction. The Karachaganak field is currently operated by the Karachaganak Petroleum Operating (KPO) consortium. This consortium includes several international energy companies with varying ownership stakes: Italy’s Eni and Shell each hold 29.25%, American oil giant Chevron (NYSE:CVX) owns 18%, Russian Lukoil has a 13.5% share, and Kazakhstan’s state-owned KazMunayGaz holds the remaining 10%. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. With CVX making headlines, savvy investors are asking: Is it truly valued fairly? In a market full of overpriced darlings, identifying true value can be challenging. InvestingPro's advanced AI algorithms have analyzed CVX alongside thousands of other stocks to uncover hidden gems. These undervalued stocks, potentially including CVX, could offer substantial returns as the market corrects. In 2024 alone, our AI identified several undervalued stocks that later surged by 30 or more. Is CVX poised for similar growth? Don't miss the opportunity to find out.

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Kazakhstan may build natural gas refinery at Karachaganak on its own, exclude Western co’s Investing.com -- Kazakhstan is reportedly contemplating the construction of a natural gas refinery at the Karachaganak oil field on its own, according to a Bloomberg report on Thursday. This decision comes after the estimated cost of the development proposed by international oil companies, led by Eni SpA and Shell Plc, surged to approximately $6 billion. The international oil companies have postponed the projected completion of the facility to 2030, two years later than the initial date set for 2028. The companies have also requested the Kazakh government’s assistance to fund around $1 billion of the project’s budget to ensure its commercial viability, the report added. In response to this, the Kazakh government is considering the option for its state-run KazMunayGas National Co. to undertake the construction of the refinery completely on its own, excluding the Western partners, according to Bloomberg sources familiar with the matter. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Should you invest $2,000 in ENI right now? With ENI making headlines, savvy investors are asking: Is it truly valued fairly? In a market full of overpriced darlings, identifying true value can be challenging. InvestingPro's advanced AI algorithms have analyzed ENI alongside thousands of other stocks to uncover hidden gems. These undervalued stocks, potentially including ENI, could offer substantial returns as the market corrects. In 2024 alone, our AI identified several undervalued stocks that later surged by 30 or more. Is ENI poised for similar growth? Don't miss the opportunity to find out.

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AFTERWORD by Nata Li is a captivating audio and photo exhibit at #LaGuardiaCollege in NewYork

The artist tells the story of Albina, a teenager from #Berezovka, Western #Kazakhstan, whose life and dreams got dramatically affected by oil development in #Karachaganak

We are among over a hundred organizations working to expose the #UncalculatedRisks of harmful development projects.

Check out this new report & recommendations for what development financiers can do to prevent another #berezovka tragedy.

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