Tengizchevroil to pay $6 million fine for environmental pollution

According to the ecology department of the Atyrau region, Tengizchevroil received a $6 million fine for pollution.

What happened? The Specialized Environmental Prosecutor’s Office of the Atyrau region reported that Tengizchevroil was exceeding emission standards, which caused pollution of the environment.

What measures have authorities undertaken? The ecology department filed a report on administrative violations of Kazakhstan’s Code on Administrative Offences, articles 328 and 337. As a result, the Zhylyoi district court ordered Tengizchevroil to pay a $6 million fine.​

In the Q4 of 2022, Chevron Corp. reported $6.353 billion of net profit, which is a 25.7% increase over the same period of 2021. The growth of the company’s annual income was even more dramatic. This figure grew from $15.6 billion in 2021 to $35.5 billion in 2022.

Tengizchevroil was established in 1993 on a parity basis by the government of Kazakhstan and Chevron Corporation. However, Kazakhstan later sold part of its share to other foreign investors. Currently, Chevron controls 50% of the joint venture shares, 25% of ExxonMobil, 20% of KazMunayGas and 5% of Lukoil.