Kazakh producer Max faces insolvency

摘要

London-Cash-strapped Kazakh producer Max Petroleum said Monday it faced insolvency due to weak oil prices as talks on a debt restructuring deal with Russia’s Sberbank have so far failed. The company, which has all its opera- tions onshore in western Kazakhstan, said in November is was due to pay Sberbank $3.2 million in December and faced further pay- ments totaling $26.6 million over the course of this year.