According to the company, the recent introduction of an oil export tax, currently equivalent to $28.31 per barrel, combined with falls in world oil prices and the collapse of the domestic market, have significantly impacted margins from its Kazakh operations.
Despite a Kazakh court ruling in late September exempting Arawak´s Akzhar field from the oil export tax, authorities again demanded that it pay the tariff in November, the company said.
Oil
