ExxonMobil (XOM) Wins Dismissal Of Kazakhstan’s $12 Billion Kashagan Claim

ExxonMobil Holdings (NYSE:XOM) and partners won a tribunal ruling dismissing Kazakhstan's roughly $12b arbitration claim over the Kashagan oil project. The long running dispute centered on alleged delays and cost overruns at the giant Kashagan field, one of Kazakhstan's key offshore developments. The decision removes the immediate threat of a large financial award against ExxonMobil and other Western oil majors involved in the venture. The dismissal of Kazakhstan's $12b Kashagan arbitration...