Oil giants face scrutiny for deals enriching Putin's allies via the Caspian Pipeline Consortium.

Western oil giants like Chevron and Shell are under scrutiny for deals made with Putin's allies and Kazakh elites, enriching them through inflated budgets and rigged bids. The Caspian Pipeline Consortium (CPC), a major crude oil pipeline, paid $816 million to Russian shareholders and $321 million in taxes to Russia since 2022. The investigation reveals safety cuts and underreporting of a 2021 oil spill, leading to a $98.7 million fine. Despite the pipeline's importance, it has faced disruptions due to the Russia-Ukraine war.

November 22, 2024
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