News Roundup

News Roundup - September 22, 2007

By SRI ⋅ September 22, 2007 ⋅

International Herald Tribune: Kazakh President Backs Chevron Oil Venture
Chevron secured crucial backing Friday from the Kazakh president for its huge Tengiz oil project, allaying concern that the government might try to shut down the project following accusations of environment violations…
CNN Money: Kazakh PM Praises Chevron’s Work In Kazakhstan
Kazakh Prime Minister Karim Masimov Friday praised Chevron Corp.’s (CVX) work in Kazakhstan following a call Thursday by a Kazakh lawmaker to shut down the Chevron-led Tengizchevroil, the country’s largest oil producer, for alleged environmental violations…
AGI News: Scaroni, No Reason to Be Pessimistic on Kashagan
‘There is no reason to be pessimistic regarding negotiations on Kashagan,’ said ENI managing director Paolo Scaroni, who is today in Mantua for the inauguration of a petrol station with a hydrogen pump. Scaroni has not provided any forecast concerning the negotiation: ‘In a negotiation involving so many players it is not easy to make predictions,’ he said…
Forbes: Chevron: Trouble At Tengiz?
When Kazakh Prime Minister Karim Masimov came to power in January he promised to put the country’s foreign oil partners under the microscope and lay down the law…
Telegraph: Kazakhstan: Make Benefit Funky Cities
New direct flights and a stylish guide book are set to heighten interest in Kazakhstan, reports Adrian Bridge. When it comes to hedonistic hotspots, the central Asian cities of Astana and Almaty do not readily come to mind…
Freedom House: Groups Strongly Urge U.S. to Remain Opposed to Kazakhstan’s Leadership of OSCE
Freedom House, together with six of the U.S.’s most prominent human rights organizations, issued a letter today to Secretary of State Condoleezza Rice, urging her to strongly oppose a bid by Kazakhstan to chair the Organization for Security and Cooperation in Europe (OSCE) in 2009…
Oil and Gas Eurasia: KazMunaiGas Puts a New Priority on Offshore Projects in Kazakhstan
Among Caspian offshore sectors, the one belonging to Kazakhstan has substantial oil and gas reserves. For national company KazMunaiGaz, offshore fields development is one of the main tasks. In the following interview to Oil&Gas Eurasia the company’s president Uzakbai Karabalin talks about strategy and new offshore development opportunities of KazMunaiGas…
Oil and Gas Eurasia: Kazakhstan Adds Value by Developing Its Petrochemical Industry
Current forecasts of power resources consumption worldwide are indicative of further rapid growth in oil refining and chemical industries. Kazakhstan strives to keep pace with the times by active development of petrochemical projects. This activity is spurned by a number of factors, primarily by significant hydrocarbon reserves in the Caspian region and growth of consumption in both the internal and export markets…
BBC: Counting the Cost of Wheat Price Hike
World wheat prices have risen to a 10-year high following a dramatic fall in harvests sparked by a severe drought in Australia and crop diseases across parts of Europe and the Americas…
Reuters: Azeri Baku-Ceyhan Pipeline to Pump More Oil in 2008
Azerbaijan will pump 20 percent more oil through the BP-led Baku-Tbilisi-Ceyhan (BTC) pipeline in 2008 than this year, a BTC source told Reuters on Friday…
Gazeta.KZ: Chevron Intends to Finish Production Facilities Enlargement Project on Tengiz by 2008
Chevron intends to finish completely by 2008 production facilities enlargement project on Tengiz, said today on the briefing after the meeting with the president of Kazakhstan Nursultan Nazarbayev the chairman of the directors’ board and the main executive director of the corporation David O’Reilly…
Gazeta.KZ: Western CPC Shareholders Agreed to Lower Interest Rates Given on Credit to the Consortium
Western shareholders of the Caspian Pipeline Consortium (CPC) agreed on the meeting held in Almaty from October 1, 2007, lower interest rates on credits given to the consortium and increase tariff for oil swap via pipeline up to USD 38 per ton, reports the agency with reference to “Kommerstant” newspaper…