Canadian oil producer PetroKazakhstan has been fined for law infridgement
Canadian oil producer PetroKazakhstan has been fined on $55 million for breach of Kazakhstan's anti-monopoly laws.
The company said Thursday that a lower court ruling fined it for alleged activities committed by seven of its subsidiaries.
A company spokesman Ihor Wasylkiw said Thursday that PetroKazakhstan is working on a settlement that would involve both the fines and the charges against its executives.
If a settlement can't be reached, that would be the ''trigger point'' for an appeal to the central Asian country's supreme court, he said.