Financial Times FT.com

Oil

Exxon attacks Kazakh oilfield delays

By Carola Hoyos in Madrid

Published: July 1 2008 17:22 | Last updated: July 1 2008 17:22

ExxonMobil, the world’s biggest listed integrated energy group, on Tuesday blamed the government of Kazakhstan for delaying the development of the world’s biggest new oilfield, significantly raising the level of acrimony surrounding the troubled project.

Rex Tillerson, Exxon’s chief executive, barely contained his anger as he warned the Kazakh government to stop delaying the development of the field, into which he said a consortium of the world’s biggest energy companies had already invested $17bn (€10.8bn, £8.5bn) but which has yet to produce a barrel of oil or a dollar of revenue.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this