Middle East Economic Survey
Kazakh Authorities Say KPO Overstated Costs
Karachaganak Petroleum Operating (KPO) has been accused by Kazakhstans financial police of overstating its costs by $1.25bn for the years 2002-07, Reuters reported on 29 April. A new criminal case has been launched against the management of KPO BV over the theft of KZT187bn ($1.25bn) by overstating its oil production costs by this figure in 2002-07, a spokesman for the authorities said. This...