Market Chatter: ExxonMobil Blocks Settlement Over $5.2 Billion Kazakhstan Fine

MT newswire2026/10/09 11:00

07:00 AM EDT, 10/09/2026 (MT Newswires) -- ExxonMobil (XOM) blocked a proposal by partners in Kazakhstan's Kashagan oil field to settle a disputed $5.2 billion environmental fine, Bloomberg reported, citing people familiar with the matter. ExxonMobil later persuaded TotalEnergies (TTE) to oppose the proposal, giving the two companies enough support to block the settlement, the report said. The fine, imposed in 2023 over sulfur storage at the field, was upheld by a Kazakh court in June, and the government has begun collection proceedings, according to Bloomberg. ExxonMobil did not immediately respond to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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