Kazakh courts have upheld the Finance Ministry's claims against PetroKazakhstan for 56.3 billion tenge ($466 million) in back taxes on excess profits, a spokeswoman for the Tax Committee said Friday.
She said the joint-venture of China National Petroleum Corp. with 67% in the oil and producer and Kazakh state oil and gas company KazMunaiGas with 33% could appeal the tax claim with the Supreme Court.
London-listed oil and gas producer KazMunaiGas Exploration Production (RDGZ.KZ) is seeking to complete the acquisition of the 33% stake in PetroKazakhstan from its parent company in the second half of this year.