VOL. XLVI

No 46

17-November-2003

CASPIAN

Kazakh Government Plans New Oil Export Tax, Royalty System

A spokesman for Kazakhstans Majlis, the lower house of parliament, said on 10 November that the government had proposed introducing a new tax on crude oil exports and a new system of calculating royalty payments. The new measures will not affect existing oil contracts, but will apply to all new agreements. Kazakhstan plans to open as many as 70 blocks in its offshore Caspian sector to international...