Kazakh Producer Resumes Flow

摘要

Arawak Energy said Thursday that it is resuming oil production and exports from four fields it operates in Kazakhstan, which it had curtailed last year because profitability had been eaten away by high taxes and falling prices.Toronto-listed Arawak, which also has interests in Russia, also said this week that it has advised its shareholders to accept an improved takeover offer from Rosco, a subsidiary of international trading group Vitol. In a deal that values Arawak at a total C$182.6 million (US$145 million), Rosco upped its offer from C$0.90 to C$1/share for the 59% of Arawak the Vitol group doesn't already own.