Tokayev, the Speaker of the Senate and respected diplomat, has the reigns as president until the country’s June 9 snap presidential elections. Overall, however, the situation bodes well for oil majors like Exxon, Chevron, and Royal Dutch shell which all maintain multi-billion-dollar interests in Kazakhstan’s prolific oil and gas fields. Chevron is Kazakhstan’s largest private oil producer, holding important stakes in two of the nation’s biggest oil-producing fields – Tengiz and Karachaganak. Exxon and Chevron have been involved in Kazakhstan’s oil and gas development for over 25 years. Experts attribute this growth to greater energy sector output, of which oil and gas are its proverbial bread and butter.

Source: Forbes May 03, 2019 14:03 UTC