news roundup
News Roundup - November 26, 2007
New Europe: ExxonMobil wants to become Kashagan field operator
US energy giant ExxonMobil is seeking to become the operator of the project to develop Kazakhstan’s Kashagan offshore Caspian oil field, whose oil reserves are put at a minimum of seven billion barrels and its total oil reserves at 38 billion barrels…
The Oil and the Glory: Exxon’s sharp elbows
New Europe has an interesting story on the prospect of ExxonMobil assuming control of developing Kazakhstan’s supergiant Kashagan oilfield. The issue is important, since amid tight oil supplies for the next few years we’re talking about the eventual export of some 1.5 million barrels of oil a day from the field…
Forbes: Kazakhstan’s TuranAlem and Kazkommertsbank IDR’s affirmed at ‘BB+’ - Fitch
Fitch Ratings affirmed Kazakhstan’s largest commercial banks — Bank TuranAlem (BTA) and Kazkommertsbank’s (KKB) — long-term foreign currency issuer default ratings at ‘BB+’ and short-term foreign currency IDR at ‘B’…
Forbes: Kazakhstan’s Temirbank rating affirmed at ‘BB-’ with stable outlook - Fitch
Fitch Ratings said it affirmed the ratings on Temirbank reflecting the Kazakh bank’s high credit risks due to rapid expansion of its retail loan portfolio against slowing growth rates in the third quarter…
BusinessWeek: Turkmen gas pipeline work to begin soon
Construction of a new pipeline to carry natural gas from Turkmenistan to Europe via Russia could begin ahead of schedule in the first half of 2008, the resource-rich nation’s president said Friday…
Financial Times: Kazakhstan sets up $4bn fund
Kazakhstan has put together a $4bn (€2.7bn, £1.9bn) stabilisation fund to help its economy weather the credit squeeze stemming from the US subprime mortgage crisis, the Kazakh central bank governor has told the Financial Times…
Neweurasia.net: Where are the strong families in Kazakhstan?
This is the question that I have been interested in since morning. So, I studied the statistical data and took the most recent published figures (which are for January-March 2007) and divided the number of divorces on the number of marriages…
Banking Business Review: Bank Hapoalim acquires Kazakhstan Bank
Bank Hapoalim has completed the acquisition of Demir Kazakhstan Bank, which is claimed to be the first bank in Kazakhstan and in all of Central Asia to be purchased by an Israeli bank…
World Nuclear News: Nuclear power plans for Kazakhstan firm up
Two small nuclear power reactors will operate in Kazakhstan from 2015, according to a government decision. The first-of-a-kind VBER-300 units will likely be sited at Aktau on the Caspian Sea…
Global Voices: Kazakhstan: Economic crisis aftermaths
In the aftermath of slight economic and financial crisis, which the government prefers to call a “correction of the market”, the bloggers keep on discussing its consequences…
RIA Novosti: Kazakhstan reports outbreak of drug-resistant tuberculosis
Kazakhstan’s health ministry said Wednesday that the number of people, infected by drug-resistant tuberculosis is on the rise in almost all of the country’s regions…
United Press International: Analysis: KazMunayGaz’s prosperity rises
s much of the world faces an economic slowdown because of record-high energy prices, oil exporters are enjoying windfall profits, with Kazakhstan’s KazMunayGaz wallowing in record profits…
Interfax: KPO consortium begins building Karachaganak-Uralsk pipeline
The Karachaganak Petroleum Operation (KPO), an international consortium that is developing the Karachaganak gas condensate field in western Kazakhstan, has began building a Karachaganak-Uralsk pipeline on Friday…
Relatives and acquaintances have expressed concern over the fate of a self-described philosopher and political analyst in Kazakhstan who was forcibly admitted to a psychiatric facility…
Guardian Unlimited: Total wants quick deal on Kashagan, return to Iran
France’s Total hopes for a swift end to the dispute between Kazakhstan and operators of its giant Kashagan oil field, but a formal deadline of Nov. 30 will be hard to meet, the head of Total said…
Guardian Unlimited: Raiffeisen CEO says in talks on Kazakh acquisition
Austria’s Raiffeisen International is in ongoing acquisition talks with several Kazakh banks Chief Executive Herbert Stepic told Reuters in an interview. “We are in discussions with several banks, not just with one,” said Stepic, whose bank is flush with fresh cash after a 1.2 billion-euro ($1.8 billion) rights issue this year…
Eurasia Daily Monitor: Nazarbayev orders defense and security reforms
Last week, Kazakhstan’s President Nursultan Nazarbayev again called for the reform of the country’s defense and security structures. On November 15, he ordered the various heads of the defense and security bodies to prepare detailed proposals for restructuring their agencies, as part of the ongoing administrative reforms in the country…
Radio Free Europe / Radio Liberty: Kazakh journalists see tighter internet control ahead
Independent journalists in Kazakhstan say authorities have signaled their desire to place domestic Internet content under stricter government regulation…
Neweurasia.net: Winds of change
Kazakhstan’s financial markets were hit hard by the US subprime crisis. That’s not surprising when one looks at the national banks’ exposure to international credit markets…
Neweurasia.net: A warm-up in relations between Ashgabat and Baku
On 19 November, the Azerbaijani governmental delegation headed by the Deputy Foreign Minister Halaf Halafov came to Ashgabat to participate in the subsequent round of Turkmen-Azerbaijani talks on cooperation in the field of oil and gas industry…
Xinhua: Romania, Kazakhstan to co-op in transporting oil
Romania and Kazakhstan will cooperate in transporting Caspian oil to European consumer markets, the Romanian and Kazakh presidents stressed in a joint press statement on Thursday…
The president of Kazakhstan’s state-run nuclear power company Kazatomprom has revealed that the company intends to swap some of its shares in a uranium mine in exchange for stakes in Chinese nuclear power projects, domestic media reported today…
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