news roundup
News Roundup - November 15, 2007
World Politics Review: Kazakhstan’s multi-vector energy policy leaves much unresolved
At the end of October, President Nursultan Nazarbayev of Kazakhstan signed several controversial amendments to the country’s Law on Subsoil Use. The new legislation permits the government to unilaterally change contracts for companies involved in extracting the country’s mineral resources if Kazakh officials deem such alterations necessary to uphold their nation’s economic and security interests…
CNN Money: Kazakh oil min hopes for Kashagan deal by Nov 30
Kazakhstan seeks to have greater benefits from the ongoing talks with the consortium developing the Kashagan field and can extend the Nov. 30 deadline for these to continue, Energy Minister Sauat Mynbayev said Wednesday…
Reuters: Kazakhstan may extend deadline in Kashagan talks
Talks to settle a dispute between Kazakhstan and the operators of its giant Kashagan oil field may extend beyond the formal deadline of Nov. 30 but a deal could still be reached by the end of this year, Kazakhstan’s Energy Minister said on Wednesday…
Azerbaijan has proposed that Kazakhstan accelerate the work schedule for construction on the Caspian segment of the Trans-Asia-Europe (TAE) fibre optic cable network, via the Siyazan (Azerbaijan) – Aktau (Kazakhstan) route…
Interfax: UniCredit plans to raise ATF Bank capital
European banking group UniCredit plans to raise the capital of Kazakh commercial bank ATF Bank. “This will be around $100 million in December 2007. Next year we will see how much is really necessary, () but the plan is from $200 million to $300 million.” …
Reuters: Kazakh banks stable despite withdrawals - central bank
Kazakhstan’s central bank said on Wednesday customer deposits at the country’s banks fell by 3 percent in October, but that posed no threat to the stability of the financial sector…
CACI Analyst: Branding the new nations of Central Asia and South Caucasus
As the states of Central Asia and the South Caucasus celebrate the sixteenth anniversary of independence this year, they are gradually moving toward appreciating their international images ahead of promoting national ideologies domestically. To date, Armenia, Georgia, and Kazakhstan have made the first conscious steps in promoting their national peculiarities in the international arena by designing recognizable images and slogans…
Commodity Online: Kazakhstan copper, lead export up
Kazakhstan exported 303,300 metric tons of refined copper and copper alloys in January-September, some 13.5% more than in the corresponding period in 2006, the national statistics authority reported Wednesday…
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One comment for “News Roundup - November 15, 2007”
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Regarding the ongoing Kashagan talks, it’s interesting that Mynbayev seems to be almost entirely taking the heat off. He says he’s willing to extend the deadline through the end of the month — or if that’s not enough, let’s talk more.
Are the Kazakhs willing to be open-ended? Have the oil companies dug in their heels on how far they are willing to go in terms of meeting the demand for a greater Kazakh share of the field? This dispute could go into next year, it seems.
Steve LeVine, author
The Oil and the Glory (Random House)
http://www.oilandglory.com