Kazakhstan - 02

Kazakhstan: Prospects for KMG’s Restructuring

KMG recently denied that would participate in the privatization of a 19.5% stake in Rosneft along with other oil majors, as claimed by the Russian government. Instead, after KMG’s unsuccessful attempt to gain full control over its key subsidiary, KazMunayGas Exploration and Production (KMG EP), in August, KMG management has hinted over the last few weeks that the company is slated to undergo major personnel cuts and a restructuring of its holdings.


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