June 15, 2017 / 8:03 AM / a month ago

Kazakh Tengizchevroil reduces dividend to finance expansion

1 Min Read

ASTANA, June 15 (Reuters) - Tengizchevroil, Kazakhstan's biggest oil producer, has reduced dividend payouts to its shareholders Chevron, ExxonMobil, LUKOIL , and KazMunayGaz, KazMunayGaz chief executive Sauat Mynbayev said on Thursday.

Mynbayev told reporters Tengizchevroil would also borrow about $20 billion to help finance the $37 billion expansion.

Kazakhstan and foreign partners also continue talks on another oil project, Karachaganak, over a financial dispute, he said. (Reporting by Mariya Gordeyeva; Writing by Olzhas Auyezov; Editing by Andrey Ostroukh)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below