Oil, Gas and Petrol

A new report from the European Bank of Reconstruction and Development looks at Kazakhstan, reliant on oil exports for about half of its revenues, and concludes that things aren't looking good for the country’s finances in the light of a of a global shift away from fossil fuels.

The changing dynamics in global energy markets are likely to put pressure on fossil fuel exporters such as Kazakhstan, the EBRD says.

The city of New York has issued civil proceedings against five of the largest oil companies alleging that they are responsible for climate change and passing the resulting costs onto local governments. Others are joining in with California being the latest to sign up.