Unrest Escalates To A Worrying Level For Foreign Operators

BMI View: Protests sparked by oil workers grievances in the streets of the Kazakh city of Aktau have escalated in recent days, significantly raising the risks to the industry. Foreign companies and higher-paid expatriates have so far been left unaffected, but could soon be dragged into the centre of this conflict. We see downside risks to both our upstream and downstream risk/reward ratings for Kazakhstan; especially following the downward revision of BMI's short term political risk score for the country prompted by the violent escalation of the strikes.

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